Safle Unveils Strategic Investment from The Binary Holdings, Targeting an Unmatched 169 Million Wallets
In a daring move to reshape the landscape of digital finance, Safle is thrilled to announce a strategic investment from The Binary Holdings, heralding a significant turning point in its development. This acquisition places Safle among the leading entities in the non-custodial wallet sector within Web3, catering to over 169 million users. With The Binary Holdings' established collaborations with major enterprise clients, including telecom giants across Southeast Asia, Safle is now set as the primary wallet for millions of users within The Binary Network, The Web3 Distribution Layer. This integration empowers countless everyday users to seamlessly access and interact with decentralized applications (dApps), bypassing the usual hurdles and complexities associated with new web3 tools and technologies.
This acquisition signifies a formidable partnership between Safle and The Binary Holdings, a frontrunner in Web3 infrastructure solutions. By collaborating, the two companies are positioned to expedite their shared goal of ushering the next billion users into Web3. The Binary Holdings plans to utilize Safle's multichain non-custodial wallet to develop identity-linked wallets, allowing telecom users to earn $BNRY tokens and smoothly engage with decentralized applications (dApps) within The Binary Hub. Together, they aim to build a stronger ecosystem where users can manage their digital assets and interact with dApps effortlessly, avoiding the typical complexities of cryptocurrency.
"The investment from The Binary Holdings is a transformative event for Safle and our users," stated Apoorv Shankar, Technology and Product Lead at Safle. "With their expertise in Web3 infrastructure, we can scale more rapidly, improve our offerings, and pursue our mission to make decentralized finance accessible to all."
At its heart, Safle is committed to delivering the finest self-sovereign cross-chain identity solution to Web3, empowering users worldwide by providing a unified platform to manage both digital assets and identity. The wallet offers a comprehensive range of features, from storing and transacting multiple cryptocurrencies to accessing a variety of financial services— all through a single, user-friendly interface. This accomplishment not only broadens Safle's user base but also reinforces its mission to provide simple and secure wallet and web3 infrastructure solutions to everyone.
As The Binary Holdings contributes its resources and expertise, Safle will continue to drive its mission of making cryptocurrency usage more straightforward. Users will benefit from a platform that makes Web3 as intuitive and accessible as traditional internet services, enabling them to interact with decentralized applications with ease.
"By removing the complexities of crypto, we are paving the way for everyone to enter the digital economy," added George Papas, VP of Tech at The Binary Holdings. "This acquisition is a significant step forward in our mission to onboard the next billion users into Web3."
Currently, the protocol’s multichain identity wallet and SafleID enable users to manage assets on over 10 blockchains through a single, easy-to-read username, simplifying the Web3 experience for millions. Safle has also expanded its in-house development to incorporate AI, on-chain identity (SSI), and seamless pseudonymous onboarding. This ensures that Safle continues to push the boundaries of user experience, making decentralized finance more accessible to both crypto-native and mainstream users.
The Binary Holdings' investment will allow Safle to accelerate its growth path, expand its user base, and enhance its technological capabilities. With access to The Binary Holdings' advanced infrastructure and network throughout Southeast Asia, Safle is well-equipped to fulfill its promise of making digital finance more user-friendly. This partnership will open new opportunities for millions of users to engage with decentralized applications, seamlessly bridging the gap between traditional and digital economies.
"By combining our strengths with The Binary Holdings, we are crafting a future where everyone can participate in the digital economy without needing technical expertise or intermediaries," added Shikha Mehra, Head of Strategy and Governance at Safle. "Together, we are propelling the mass adoption of Web3."
Overview of Safle
Safle is an advanced multichain, non-custodial wallet and self-sovereign identity protocol designed to offer the most secure and straightforward on-chain user experience. The protocol's multichain identity wallet and SafleID enable users to manage assets on more than 10 blockchains through a single, human-readable username. The $SAFLE token plays a role in SafleID, being essential for the creation and management of SafleIDs.
Details on The Binary Holdings
The Binary Holdings (TBH) delivers cutting-edge Web3 infrastructure solutions for telecommunication companies and banks in emerging markets. With a user base exceeding 169 million, TBH provides scalable, cost-efficient infrastructure services crucial for the adoption of Web3 solutions. Central to TBH's ecosystem is the $BNRY token, which facilitates transactions and user interactions, creating a network where users can easily access decentralized applications and services.
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Bitzo, nor is it intended to be used as legal, tax, investment, or financial advice.
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