Binance Gets its First Hardware Wallet Portfolio through SafePal Partnership

Paigambar Mohan Raj
Source: Binance

Binance Connect, the payment infrastructure of the world’s largest crypto exchange, has announced a new partnership with SafePal, a crypto wallet service provider. Through the partnership, SafePal has become the first hardware wallet portfolio of the exchange.

SafePal provides hardware wallets, software wallets, and extension wallet product lines. All their services can be connected and managed via SafePal App. The wallet provider will now serve six million users across the planet. With the help of Binance Connect, SafePal users can make direct purchases of more than 200 cryptocurrencies, and users can use their credit or debit cards for payments.

Binance on a roll?

Binance has announced one partnership after the other in the last couple of days. The world’s largest exchange announced a partnership with Virtuzone in the UAE (United Arab Emirates). Through the partnership, Virtuzone has become the first company in the UAE to accept cryptocurrencies for businesses. Furthermore, by assisting companies in accepting cryptocurrency payments, Virtuzone hopes to lower entrepreneurial barriers. They also want to make it easier for foreign firms to interact with the country’s thriving startup culture. The company also intends to advance and encourage the use of cryptocurrencies in the UAE.

The exchange also launched the much-awaited Cardano (ADA) staking feature on its platform.

On the other hand, Binance is awaiting a major upgrade on its BNB Chain. A hard fork in the BNB Beacon Chain is scheduled to occur at a block height of 264,000,000, on September 2, at 6:00 UTC.

Nonetheless, Binance has also come under the spotlight in the US. The CEO of the American branch of the crypto exchange received a letter from US Congressman Raja Krishnamoorthi asking the exchange to provide documents that prove its adherence to investor protection protocols. The letter came moments after the Australian branch released a blog outlining its measures to protect vulnerable investors. Apart from Binance, FTX, KuCoin, Kraken, and CoinBase have also received similar letters from the congressman.