The X1 is the second addition to SafePal’s hardware wallet arsenal and introduces open-sourcing to the highly popular wallet suite.


Sept. 13, 2023SafePal, a comprehensive noncustodial crypto wallet suite backed by industry leaders Binance Labs and Animoca Brands with over 10 million users, has made its offerings open-source and launched the X1, a new bluetooth hardware wallet. The move comes strategically to better compete with other industry heavyweights, such as Ledger and Trezor.

The commercial launch of the X1 will be announced and unveiled at Token2049, held at Marina Bay Sands in Singapore, and will kick off with a campaign allowing the first 5,000 visitors to the SafePal booth to redeem a free unit of the new bluetooth wallet.

“Our continued efforts to give crypto users accessible and secure cold-storage solutions over the past five years have culminated in the creation of the X1, and we are excited to go open-source for our wallet suite,” said Veronica Wong, CEO and co-founder of SafePal.

Priced at $69.99, the X1 is the first bluetooth addition to its air-gapped counterparts (the S1 and S1 Pro), expanding the SafePal hardware wallet line from one to three models this year alone.

Nicola W., investment director at Binance Labs, said:

“As an early incubation project of Binance Labs, SafePal’s ongoing expansion of its wallet solution suite will continue to enable a diverse group of users to securely interact with decentralized applications.”

Security audits for the X1 were completed by Keylabs, with all significant findings carefully addressed before confirming release to maximize safety. Relevant parts of the major code for the X1 have also been made open-source in stages to further strengthen transparency and trust.

Yat Siu, co-founder and executive chairman of Animoca Brands, said:

“The evolution of SafePal toward open source is especially exciting for us to see, given that we are enthusiastic backers of both open source and SafePal. The added transparency paves the way for SafePal’s decentralized wallet offerings to serve as an even more appealing gateway to Web3 adoption.”

The code for the SafePal mobile software wallet used in conjunction with its entire hardware line for signatures and approval of smart contracts, private key generation and storage, and QR scanning mechanisms by the S1 line has also been made open-source. The transition to open source for other aspects, such as firmware for the S1 line and the SafePal browser extension, will continue and be a key focus for Q4 this year.

Jacob Ko, partner at Superscrypt, said:

“Using a hardware wallet to secure the most valuable parts of your digital asset portfolios is best practice for any individual. While this can be a daunting task, secure and user-friendly solutions like Safepal’s lightweight X1 are making this easy for everyone.”

Paying homage to the flagship S1, the X1 retains notable features, including an anti-tamper self-erasing mechanism, a CC EAL5+ secure element, improved portability, a larger 1.8’ screen with high-speed bluetooth connectivity, and an intuitive 12-button D-pad.

As part of efforts to globalize Web3 adoption for the wallet suite, SafePal unveiled a limited-edition phygital co-branded hardware wallet initiative with the Klaytn Foundation on Sept. 4 in Seoul, South Korea. The blockchain-agnostic wallet suite also recently added up-and-coming networks, such as Base, Mantle and Linea, to its existing 100+ supported blockchains.

About SafePal

Founded in 2018, SafePal is a comprehensive crypto wallet suite that provides hardware wallet, mobile app and browser extension wallet solutions. As a noncustodial wallet suite, SafePal aims to allow users to own their crypto adventure by empowering them to access opportunities securely in the decentralized world.

The SafePal platform is backed by industry leaders Binance Labs, Animoca Brands and Superscrypt, serving over 10 million users globally and supporting 15 languages, 100+ blockchains with their fungible and nonfungible tokens. It also encompasses crypto asset management solutions like cross-chain swapping, trading and yielding tools for users.

SFP is a decentralized BEP-20 and ERC-20 utility token serving as the growth engine of the SafePal ecosystem. It can be used to purchase SafePal products at a discount and is converted seamlessly to gas across chains in the app, in addition to rewarding token holders and education programs.

Stay informed about SafePal here.

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