- With this partnership, SafePal users can directly send and store the $TON coins and also interact with TON dApps.
- Amid the recent collapse of crypto exchange FTX, SafePal saw a strong surge in the sale of its hardware wallets.
Wednesday, December 21, Singapore-based wallet provider SafePal announced its support for The Open Network (TON). Originally designed by Telegram, TON is now an independent and open-source community project.
Amid its recent partnership, SafePal will allow its hardware and software wallet users to store and send TON. Besides, this partnership would also allow SafePal users to directly interact with TON dApps. Within the extension wallet, SafePal also plans to add support for TON at a later stage. The partnership between the two players will also unlock the provision of a TON grant to support open-source development.
As a result, both parties will contribute to driving a “secure, open, transparent, and interoperable network” thereby steering the next level of blockchain adoption.
Founded in 2018, SafePal offers a complete suite of secure crypto management solutions accessible to all participants in crypto. The hardware wallet provider also has investments from giants like Binance. With its unique product line of hardware wallets, software wallets, and browser extension wallets, SafePal serves more than seven million users across the globe. Speaking on the development, Justin Hyun, Head of Incubation at TON Foundation, said:
We are happy to onboard SafePal as the first hardware solution on TON. Furthermore, we are excited about the prospects of SafePal and their journey to open-source, as this builds greater trust and resilience for the safekeeping of assets.
The Boost In SafePal Hardware Wallet Sales
The recent collapse of the crypto exchange FTX last month has benefitted hardware wallet makers to an extent. This is because a lot of investors have moved their coins off the centralized exchange and are opting for self-custody.
SafePal said that their hardware wallet sales have surged after the collapse of crypto exchange FTX. As said earlier, SafePal provides three decentralized wallet solutions. This allows crypto users to manage, swap, trade, and secure their digital currency holdings. SafePal says that it is possible to interconnect all three types of wallets offering users a new way to experience and explore Web3.
Besides, the SafePal team is also working on its open-source wallet program. This will “open the SafePal mobile app, browser extension, and communication protocol on the hardware wallet to third-party developers”.
The recent development of SafePal adding support for TON comes when there’s massive interest built around Toncoin (TON). Since the beginning of December 2022, the price of $TON has shot up by nearly 100%. furthermore, The Open Network launched its first decentralized exchange (DEX) STON.fi which is now being tracked by DeFli Llama.
