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

# SafePal CEO Highlights Seven-Year Security Record and Expansive Growth Strategy SafePal(SFP), a leading cryptocurrency wallet provider, has celebrated a significant milestone—a flawless seven-year security record. Speaking at the Hong Kong Web3 Festival in April, SafePal Co-founder and CEO Veronica Wong emphasized this achievement as the company's greatest success. In an interview with Zex PR Wire, Wong delved into SafePal’s comprehensive security framework, device integration, impactful partnerships, regulatory compliance, and long-term growth strategy. # Seven Years Without Security Incidents: A Three-Tiered Security Design SafePal boasts an immaculate security track record since its inception. CEO Veronica Wong credits this to a three-tiered security system that surpasses standard product safeguards. “Our three-layer security framework covers product security, system security, and user behavior,” said Wong. The first tier ensures **product security**, where both hardware and software wallets use open-source protocols and undergo external audits. The second tier focuses on **system security**, employing measures against social engineering, supply chain breaches, and phishing attacks. Innovations like a “self-destruct mechanism” that erases wallet data upon forced access attempts are notable. The third tier emphasizes **user behavior security**, often overlooked in the industry. “Issues like CRS loss or mis-transfers are typically due to user awareness rather than technical flaws,” Wong explained. SafePal addresses this by guiding users through asset deposits, signing, and transactions to ensure secure behavior. # Hardware Wallet Adoption Faces Challenges, But Growth Is on the Horizon Despite offering both hardware and software wallets, SafePal sees modest adoption of hardware wallets. “Many users recognize the importance of security only after losing assets,” Wong remarked, noting the need to counter user complacency. Wong stressed the importance of enhancing user interface (UI) and user experience (UX). SafePal’s early wallets used camera-scanning instead of USB connections to minimize malware risks. The company is steadily increasing hardware wallet adoption in markets like Brazil, India, Europe, and North America. # Strategic Partnerships with Binance, Toncoin, and Solana Bolster Credibility SafePal's secure and reliable reputation was fortified by its partnership with Binance Labs in 2018, where it was the sole wallet project selected for incubation. This collaboration has grown through strategic alliances with Binance’s trading, onboarding, and connect teams. “Binance’s initial investment was pivotal in building brand trust,” Wong noted. SafePal continues to build alliances with blockchain ecosystems such as Toncoin(TON) and Solana(SOL). Wong stated, “Our goal is to integrate across various blockchain environments, remaining blockchain-agnostic.” # Adapting to Regulatory Changes and Expanding Services for the Long Term With stricter cryptocurrency regulations, especially in Europe, SafePal prioritizes compliance. Wong highlighted the company’s proactive stance in adhering to frameworks like the EU’s Markets in Crypto-Assets (MiCA) regulation. “We’re in it for the long haul with a dedicated legal team to ensure compliance,” Wong stated, focusing more on longevity than fleeting trends. Service expansion is a cornerstone of SafePal’s long-term strategy. The recent launch of its Telegram Mini Wallet enhances accessibility, allowing users to create wallets, manage assets, and sign transactions directly within the Telegram app, bypassing the need for separate applications. SafePal is also developing PayFi, an application integrating its native token SFP, aimed at introducing payment and reward mechanisms to offer tangible economic benefits beyond asset storage. “Our vision is to provide real-world utility and rewards, extending beyond asset custody,” Wong explained. # A Vision Turned Reality Reflecting on SafePal’s journey, Wong shared her entrepreneurial motivations. “Leaving a Fortune 500 company to start SafePal was the most rewarding decision of my life,” she said. “What we’ve achieved aligns perfectly with the vision we had seven years ago.” SafePal’s progress, from its pioneering security principles to global partnerships and service innovations, highlights its resilience and commitment to securing cryptocurrency asset storage. As it enters its eighth year, Wong’s leadership remains focused on long-term sustainability and trust within the evolving blockchain landscape.