diff --git a/src/App.tsx b/src/App.tsx
index a587432..86965da 100644
--- a/src/App.tsx
+++ b/src/App.tsx
@@ -23,7 +23,6 @@ import AddSession from './screens/AddSession';
 import WalletConnect from './screens/WalletConnect';
 import ApproveTransaction from './screens/ApproveTransaction';
 import { StackParamsList } from './types';
-import { web3wallet } from './utils/wallet-connect/WalletConnectUtils';
 import { EIP155_SIGNING_METHODS } from './utils/wallet-connect/EIP155Data';
 import { getSignParamsMessage } from './utils/wallet-connect/helpers';
 import ApproveTransfer from './screens/ApproveTransfer';
@@ -40,7 +39,7 @@ const App = (): React.JSX.Element => {
   const navigation =
     useNavigation<StackNavigationProp<StackParamsList>>();
 
-  const { setActiveSessions } = useWalletConnect();
+  const { web3wallet, setActiveSessions } = useWalletConnect();
   const { accounts, setCurrentIndex } = useAccounts();
   const { networksData, selectedNetwork, setSelectedNetwork } = useNetworks();
   const [modalVisible, setModalVisible] = useState(false);
@@ -62,7 +61,7 @@ const App = (): React.JSX.Element => {
       setModalVisible(true);
       setCurrentProposal(proposal);
     },
-    [accounts],
+    [accounts, web3wallet],
   );
 
   const onSessionRequest = useCallback(
@@ -196,13 +195,14 @@ const App = (): React.JSX.Element => {
       setSelectedNetwork,
       setCurrentIndex,
       selectedNetwork,
+      web3wallet
     ],
   );
 
   const onSessionDelete = useCallback(() => {
     const sessions = web3wallet!.getActiveSessions();
     setActiveSessions(sessions);
-  }, [setActiveSessions]);
+  }, [setActiveSessions, web3wallet]);
 
   useEffect(() => {
     web3wallet?.on('session_proposal', onSessionProposal);
diff --git a/src/components/Accounts.tsx b/src/components/Accounts.tsx
index fd7770a..29de844 100644
--- a/src/components/Accounts.tsx
+++ b/src/components/Accounts.tsx
@@ -11,7 +11,7 @@ import styles from '../styles/stylesheet';
 import HDPathDialog from './HDPathDialog';
 import AccountDetails from './AccountDetails';
 import { useAccounts } from '../context/AccountsContext';
-import { web3wallet } from '../utils/wallet-connect/WalletConnectUtils';
+import { useWalletConnect } from '../context/WalletConnectContext';
 import { useNetworks } from '../context/NetworksContext';
 import ConfirmDialog from './ConfirmDialog';
 import { getNamespaces } from '../utils/wallet-connect/helpers';
@@ -26,6 +26,8 @@ const Accounts = () => {
     useAccounts();
   const { networksData, selectedNetwork, setNetworksData, setSelectedNetwork } =
     useNetworks();
+
+  const {web3wallet} = useWalletConnect();
   const [expanded, setExpanded] = useState(false);
   const [isAccountCreating, setIsAccountCreating] = useState(false);
   const [hdDialog, setHdDialog] = useState(false);
@@ -74,7 +76,7 @@ const Accounts = () => {
     // Call the updateSessions function when the 'accounts' dependency changes
     updateSessions();
     // eslint-disable-next-line react-hooks/exhaustive-deps
-  }, [accounts]);
+  }, [accounts, web3wallet]);
 
   const addAccountHandler = async () => {
     setIsAccountCreating(true);
diff --git a/src/components/PairingModal.tsx b/src/components/PairingModal.tsx
index 39ba1df..ec08b81 100644
--- a/src/components/PairingModal.tsx
+++ b/src/components/PairingModal.tsx
@@ -7,7 +7,6 @@ import { buildApprovedNamespaces, getSdkError } from '@walletconnect/utils';
 
 import { PairingModalProps } from '../types';
 import styles from '../styles/stylesheet';
-import { web3wallet } from '../utils/wallet-connect/WalletConnectUtils';
 import { useAccounts } from '../context/AccountsContext';
 import { useWalletConnect } from '../context/WalletConnectContext';
 import { useNetworks } from '../context/NetworksContext';
@@ -86,7 +85,7 @@ const PairingModal = ({
     });
   }, [currentProposal]);
 
-  const { setActiveSessions } = useWalletConnect();
+  const { setActiveSessions, web3wallet } = useWalletConnect();
 
   useEffect(() => {
     const getSupportedNamespaces = async () => {
@@ -131,6 +130,7 @@ const PairingModal = ({
     currentIndex,
     setCurrentProposal,
     setModalVisible,
+    web3wallet
   ]);
 
   const namespaces = useMemo(() => {
diff --git a/src/context/WalletConnectContext.tsx b/src/context/WalletConnectContext.tsx
index 903319d..34b6d5f 100644
--- a/src/context/WalletConnectContext.tsx
+++ b/src/context/WalletConnectContext.tsx
@@ -1,14 +1,16 @@
 import React, { createContext, useContext, useEffect, useState } from 'react';
 
 import { SessionTypes } from '@walletconnect/types';
+import { IWeb3Wallet } from '@walletconnect/web3wallet';
 
 import { WalletConnectContextProps } from '../types';
-import { web3wallet } from '../utils/wallet-connect/WalletConnectUtils';
 import useInitialization from '../hooks/useInitialization';
 
 const WalletConnectContext = createContext<WalletConnectContextProps>({
   activeSessions: {},
   setActiveSessions: () => {},
+  web3wallet: {} as IWeb3Wallet,
+  setWeb3wallet: () => {},
 });
 
 const useWalletConnect = () => {
@@ -17,12 +19,14 @@ const useWalletConnect = () => {
 };
 
 const WalletConnectProvider = ({ children }: { children: React.ReactNode }) => {
-  useInitialization();
+  const [web3wallet, setWeb3wallet] = useState<IWeb3Wallet | undefined>();
+
+  useInitialization(setWeb3wallet);
 
   useEffect(() => {
     const sessions = (web3wallet && web3wallet.getActiveSessions()) || {};
     setActiveSessions(sessions);
-  }, []);
+  }, [web3wallet]);
 
   const [activeSessions, setActiveSessions] = useState<
     Record<string, SessionTypes.Struct>
@@ -33,6 +37,8 @@ const WalletConnectProvider = ({ children }: { children: React.ReactNode }) => {
       value={{
         activeSessions,
         setActiveSessions,
+        web3wallet,
+        setWeb3wallet,
       }}>
       {children}
     </WalletConnectContext.Provider>
diff --git a/src/hooks/useInitialization.ts b/src/hooks/useInitialization.ts
index 3759e5c..1cd5908 100644
--- a/src/hooks/useInitialization.ts
+++ b/src/hooks/useInitialization.ts
@@ -1,17 +1,23 @@
 import { useCallback, useEffect, useState } from 'react';
+
+import { IWeb3Wallet } from '@walletconnect/web3wallet';
+
 import { createWeb3Wallet } from '../utils/wallet-connect/WalletConnectUtils';
 
-export default function useInitialization() {
+export default function useInitialization(
+  setWeb3wallet: React.Dispatch<React.SetStateAction<IWeb3Wallet | undefined>>,
+) {
   const [initialized, setInitialized] = useState(false);
 
   const onInitialize = useCallback(async () => {
     try {
-      await createWeb3Wallet();
+      const web3walletInstance = await createWeb3Wallet();
+      setWeb3wallet(web3walletInstance);
       setInitialized(true);
     } catch (err: unknown) {
       console.error('Error for initializing', err);
     }
-  }, []);
+  }, [setWeb3wallet]);
 
   useEffect(() => {
     if (!initialized) {
diff --git a/src/screens/AddSession.tsx b/src/screens/AddSession.tsx
index 72a2d60..55fa2b3 100644
--- a/src/screens/AddSession.tsx
+++ b/src/screens/AddSession.tsx
@@ -1,4 +1,4 @@
-import React, { useState } from 'react';
+import React, { useCallback, useState } from 'react';
 import { View } from 'react-native';
 import { Button, Text, TextInput } from 'react-native-paper';
 
@@ -8,6 +8,7 @@ import { NativeStackNavigationProp } from '@react-navigation/native-stack';
 import { web3WalletPair } from '../utils/wallet-connect/WalletConnectUtils';
 import styles from '../styles/stylesheet';
 import { StackParamsList } from '../types';
+import { useWalletConnect } from '../context/WalletConnectContext';
 
 const AddSession = () => {
   const navigation =
@@ -15,11 +16,17 @@ const AddSession = () => {
 
   const [currentWCURI, setCurrentWCURI] = useState<string>('');
 
-  const pair = async () => {
-    const pairing = await web3WalletPair({ uri: currentWCURI });
+  const {web3wallet} = useWalletConnect();
+
+  const pair = useCallback(async () => {
+    if (!web3wallet) {
+      return;
+    }
+
+    const pairing = await web3WalletPair(web3wallet, { uri: currentWCURI });
     navigation.navigate('WalletConnect');
     return pairing;
-  };
+  }, [currentWCURI, navigation, web3wallet]);
 
   return (
     <View style={styles.appContainer}>
diff --git a/src/screens/ApproveTransaction.tsx b/src/screens/ApproveTransaction.tsx
index 97f4c1a..cfc6ea1 100644
--- a/src/screens/ApproveTransaction.tsx
+++ b/src/screens/ApproveTransaction.tsx
@@ -23,7 +23,7 @@ import {
   approveWalletConnectRequest,
   rejectWalletConnectRequest,
 } from '../utils/wallet-connect/wallet-connect-requests';
-import { web3wallet } from '../utils/wallet-connect/WalletConnectUtils';
+import { useWalletConnect } from '../context/WalletConnectContext';
 import { MEMO } from './ApproveTransfer';
 import TxErrorDialog from '../components/TxErrorDialog';
 import AccountDetails from '../components/AccountDetails';
@@ -65,6 +65,8 @@ const ApproveTransaction = ({ route }: ApproveTransactionProps) => {
   );
   const namespace = requestedNetwork!.namespace;
 
+  const { web3wallet } = useWalletConnect();
+
   useEffect(() => {
     if (namespace !== COSMOS) {
       return;
@@ -106,7 +108,7 @@ const ApproveTransaction = ({ route }: ApproveTransactionProps) => {
     };
 
     setClient();
-  }, [account, requestedNetwork, chainId, namespace, requestEventId, topic]);
+  }, [account, requestedNetwork, chainId, namespace, requestEventId, topic, web3wallet]);
 
   const retrieveData = useCallback(
     async (requestAddress: string) => {
@@ -158,7 +160,7 @@ const ApproveTransaction = ({ route }: ApproveTransactionProps) => {
       }
     };
     getCosmosGas();
-  }, [cosmosStargateClient, transactionMessage, requestEventId, topic]);
+  }, [cosmosStargateClient, transactionMessage, requestEventId, topic, web3wallet]);
 
   useEffect(() => {
     const gasPrice = GasPrice.fromString(
diff --git a/src/screens/ApproveTransfer.tsx b/src/screens/ApproveTransfer.tsx
index 9ca98eb..71ee07d 100644
--- a/src/screens/ApproveTransfer.tsx
+++ b/src/screens/ApproveTransfer.tsx
@@ -33,7 +33,7 @@ import {
   rejectWalletConnectRequest,
   WalletConnectRequests,
 } from '../utils/wallet-connect/wallet-connect-requests';
-import { web3wallet } from '../utils/wallet-connect/WalletConnectUtils';
+import { useWalletConnect } from '../context/WalletConnectContext';
 import DataBox from '../components/DataBox';
 import { getPathKey } from '../utils/misc';
 import { useNetworks } from '../context/NetworksContext';
@@ -53,6 +53,7 @@ type SignRequestProps = NativeStackScreenProps<
 
 const ApproveTransfer = ({ route }: SignRequestProps) => {
   const { networksData } = useNetworks();
+  const { web3wallet } = useWalletConnect();
 
   const requestSession = route.params.requestSessionData;
   const requestName = requestSession.peer.metadata.name;
diff --git a/src/screens/HomeScreen.tsx b/src/screens/HomeScreen.tsx
index 259f3ce..db7ee75 100644
--- a/src/screens/HomeScreen.tsx
+++ b/src/screens/HomeScreen.tsx
@@ -16,7 +16,6 @@ import styles from '../styles/stylesheet';
 import { useAccounts } from '../context/AccountsContext';
 import { useWalletConnect } from '../context/WalletConnectContext';
 import { NetworksDataState, StackParamsList } from '../types';
-import { web3wallet } from '../utils/wallet-connect/WalletConnectUtils';
 import { useNetworks } from '../context/NetworksContext';
 
 const WCLogo = () => {
@@ -33,7 +32,7 @@ const HomeScreen = () => {
 
   const { networksData, selectedNetwork, setSelectedNetwork, setNetworksData } =
     useNetworks();
-  const { setActiveSessions } = useWalletConnect();
+  const { setActiveSessions, web3wallet } = useWalletConnect();
 
   const navigation =
     useNavigation<NativeStackNavigationProp<StackParamsList>>();
@@ -115,6 +114,7 @@ const HomeScreen = () => {
     setCurrentIndex,
     setNetworksData,
     setSelectedNetwork,
+    web3wallet
   ]);
 
   const updateNetwork = (networkData: NetworksDataState) => {
diff --git a/src/screens/SignRequest.tsx b/src/screens/SignRequest.tsx
index b768d17..472c0e6 100644
--- a/src/screens/SignRequest.tsx
+++ b/src/screens/SignRequest.tsx
@@ -19,7 +19,7 @@ import {
   rejectWalletConnectRequest,
   WalletConnectRequests,
 } from '../utils/wallet-connect/wallet-connect-requests';
-import { web3wallet } from '../utils/wallet-connect/WalletConnectUtils';
+import { useWalletConnect } from '../context/WalletConnectContext';
 import { EIP155_SIGNING_METHODS } from '../utils/wallet-connect/EIP155Data';
 import { useNetworks } from '../context/NetworksContext';
 import { COSMOS_METHODS } from '../utils/wallet-connect/COSMOSData';
@@ -28,6 +28,7 @@ type SignRequestProps = NativeStackScreenProps<StackParamsList, 'SignRequest'>;
 
 const SignRequest = ({ route }: SignRequestProps) => {
   const { networksData } = useNetworks();
+  const {web3wallet} = useWalletConnect();
 
   const requestSession = route.params.requestSessionData;
   const requestName = requestSession?.peer?.metadata?.name;
diff --git a/src/screens/WalletConnect.tsx b/src/screens/WalletConnect.tsx
index c0e80d9..f581930 100644
--- a/src/screens/WalletConnect.tsx
+++ b/src/screens/WalletConnect.tsx
@@ -5,11 +5,10 @@ import { List, Text } from 'react-native-paper';
 import { getSdkError } from '@walletconnect/utils';
 
 import { useWalletConnect } from '../context/WalletConnectContext';
-import { web3wallet } from '../utils/wallet-connect/WalletConnectUtils';
 import styles from '../styles/stylesheet';
 
 export default function WalletConnect() {
-  const { activeSessions, setActiveSessions } = useWalletConnect();
+  const { web3wallet, activeSessions, setActiveSessions } = useWalletConnect();
 
   const disconnect = async (sessionId: string) => {
     await web3wallet!.disconnectSession({
@@ -24,7 +23,7 @@ export default function WalletConnect() {
   useEffect(() => {
     const sessions = web3wallet?.getActiveSessions() || {};
     setActiveSessions(sessions);
-  }, [setActiveSessions]);
+  }, [web3wallet, setActiveSessions]);
 
   return (
     <View>
diff --git a/src/types.ts b/src/types.ts
index 45bdfe3..4f87bb4 100644
--- a/src/types.ts
+++ b/src/types.ts
@@ -1,7 +1,7 @@
 import { PopulatedTransaction } from 'ethers';
 
 import { SignClientTypes, SessionTypes } from '@walletconnect/types';
-import { Web3WalletTypes } from '@walletconnect/web3wallet';
+import { IWeb3Wallet, Web3WalletTypes } from '@walletconnect/web3wallet';
 import { EncodeObject } from '@cosmjs/proto-signing';
 
 export type StackParamsList = {
@@ -129,4 +129,6 @@ export interface WalletConnectContextProps {
   setActiveSessions: (
     activeSessions: Record<string, SessionTypes.Struct>,
   ) => void;
+  web3wallet: IWeb3Wallet | undefined;
+  setWeb3wallet: React.Dispatch<React.SetStateAction<IWeb3Wallet | undefined>>;
 }
diff --git a/src/utils/wallet-connect/WalletConnectUtils.tsx b/src/utils/wallet-connect/WalletConnectUtils.tsx
index 22da64e..362bca0 100644
--- a/src/utils/wallet-connect/WalletConnectUtils.tsx
+++ b/src/utils/wallet-connect/WalletConnectUtils.tsx
@@ -14,7 +14,7 @@ export async function createWeb3Wallet() {
     projectId: process.env.REACT_APP_WALLET_CONNECT_PROJECT_ID,
   });
 
-  web3wallet = await Web3Wallet.init({
+  const web3wallet = await Web3Wallet.init({
     core,
     metadata: {
       name: 'Laconic Wallet',
@@ -23,9 +23,14 @@ export async function createWeb3Wallet() {
       icons: ['https://avatars.githubusercontent.com/u/92608123'],
     },
   });
+
+  return web3wallet;
 }
 
-export async function web3WalletPair(params: { uri: string }) {
+export async function web3WalletPair(
+  web3wallet: IWeb3Wallet,
+  params: { uri: string },
+) {
   if (web3wallet) {
     return await web3wallet.core.pairing.pair({ uri: params.uri });
   }