SafePal (SFP) Outlines Expansion Plan at Hong Kong Web3 Festival

# SafePal CEO Highlights Seven-Year Impeccable Security Record and Ambitious Growth Strategy SafePal (SFP), a leading cryptocurrency wallet provider, has impressively maintained a zero-security incident record over seven years. During the Hong Kong Web3 Festival in April, Veronica Wong, SafePal’s Co-founder and CEO, identified this achievement as the company's crowning success. In a discussion with Zex PR Wire, Wong elaborated on SafePal’s robust security measures, device integration, strategic alliances, regulatory readiness, and long-term expansion plans. # Unblemished Seven-Year Security Record: A Comprehensive Three-Tiered Security Framework SafePal prides itself on an untarnished security track record since its launch. CEO Veronica Wong attributes this to a sophisticated three-tier security system that transcends basic product protection. “Our three-layer security framework includes product security, system security, and user behavior,” said Wong. The first layer ensures **product security**, with hardware and software wallets adhering to open-source protocols and undergoing external audits. The second layer enhances **system security** against social engineering, supply chain breaches, and phishing. Innovations like a “self-destruct mechanism,” which automatically deletes wallet data during forced access attempts, are pivotal. The third layer, **user behavior security**, is vital but often neglected. “Issues like CRS loss or accidental mis-transfers stem more from user unawareness than technical flaws,” Wong explained. SafePal counters these through detailed guidance on asset deposits, signing, and transactions, promoting user security. # Challenges in Hardware Wallet Adoption, Envisioning Growth Despite offering both hardware and software wallets, hardware wallet adoption remains slow. “Users often grasp security importance only after incurring asset losses,” Wong noted, emphasizing the need to overcome complacency. Improving UI and UX is crucial for SafePal. Early wallets utilized camera-scanning technology to replace USB connections, enhancing security against malware attacks. SafePal steadily boosts hardware wallet adoption in key regions like Brazil, India, Europe, and North America. # Strengthening Trust Through Strategic Partnerships with Binance, Toncoin, and Solana SafePal’s integrity as a secure wallet was established with Binance Labs’ 2018 support, being the sole wallet project selected for incubation. This partnership extended to collaboration with Binance’s trading, onboarding, and connect teams. “Binance’s initial investment was essential in building brand trust,” Wong remarked. SafePal also collaborates with blockchain ecosystems like Toncoin (TON) and Solana (SOL). Wong stressed SafePal’s blockchain-agnostic approach, saying, “We aim to integrate across various blockchain environments, not limit ourselves to specific ones.” # Navigating Regulatory Shifts and Broadening Services for Long-Term Success With increasing cryptocurrency regulations, especially in Europe, SafePal prioritizes compliance. Wong discussed aligning with frameworks such as the EU’s Markets in Crypto-Assets (MiCA) regulation. “We are committed to compliance, with a dedicated legal team ensuring we meet regulatory standards,” Wong said, highlighting a focus on longevity. Expanding services is key to SafePal’s future. The recent launch of its Telegram Mini Wallet boosts accessibility, allowing users to create wallets, manage assets, and sign transactions directly within Telegram without needing separate apps. Moreover, SafePal is developing PayFi, integrated with its native token SFP, aimed at facilitating payments and rewards, moving beyond asset storage. “We envision providing tangible rewards and real-world utility to users,” Wong explained. # Realizing a Vision Reflecting on SafePal’s journey, Wong shared personal insights: “Leaving a Fortune 500 company to start this venture has been the most rewarding decision,” she said. “SafePal’s accomplishments mirror the vision from seven years ago.” SafePal’s progress—from robust security principles to global partnerships and service innovations—illustrates its resilience and dedication to secure cryptocurrency asset storage. As the company marks its eighth year, Wong continues to steer a path of sustainability and trust in the evolving blockchain landscape.