SafePal Launches Crypto Wallet for Telegram and Updates Device Security
Date: 2025-04-08 Author: Henry Casey Categories: BUSINESS
SafePal has strengthened the security of its devices, upgrading from EAL 5+ to EAL 6+. This is a new security standard that exceeds the security level of most bank cards. SafePal hardware wallets now provide better protection against hacks, which meets the requirements of the financial industry.
Security assessment is carried out by independent auditors according to the international Common Criteria standard. In addition, the company has updated data analysis and transaction simulation functions to work with decentralized applications (dApps), including multi-signature wallets such as Safe (formerly Gnosis).
SafePal CEO Veronica Wong said the updates were a response to a series of major attacks in the industry, including the $1.4 billion loss on the Bybit exchange. According to her, security must evolve along with the user experience, and SafePal is committed to maintaining affordable prices while strengthening its defenses.
SafePal also launched SafePal Mini, a unique Telegram app for cryptocurrency that includes a banking gateway and digital Mastercard integration. After completing beta testing, Mini was made available to all Telegram users, of which there are about 950 million.
SafePal Mini features include:
- Send and receive cryptocurrency across 40+ networks, such as Ethereum, TON, BNB Chain, Arbitrum, and Base.
- Use a banking gateway that supports USD, EUR, CHF, and CNY currencies.
- Get a digital Mastercard compatible with PayPal, Apple Pay, Google Pay, and Samsung Pay.
- In the future, it is planned to add the cryptocurrency exchange function directly in Telegram.
Financial integration is implemented in cooperation with licensed Swiss banks regulated by FINMA. SafePal intends to expand the availability of the banking gateway in Europe and the Asia-Pacific region.
WalletConnect integration and SFP dynamics
In August 2024, SafePal introduced the SFPlus platform, a hub for staking the SFP token. The company recently added integration with WalletConnect, which allows users to interact with various blockchains and improves the tokenomics of SFP.
However, the price of the SFP token shows negative dynamics:
- A drop of 9.2% over the past 24 hours.
- A decrease of 38% over the year.
- A loss of 89% compared to the historical maximum of $ 4.19 recorded in February 2021.
Despite this, the token has shown a 68.5% increase from its June 2022 low.
SafePal is currently a non-cooperative wallet with over 20 million users worldwide, spanning 200 countries. The project’s investors include YZI Labs (formerly Binance Labs), Animoca Brands, and SuperScrypt.
SafePal also invested in Swiss bank Fiat24 in March 2024, expanding its users’ options in the legal banking sector.
