CoolBitX’s Cryptocurrency Hardware Wallet Now Supports Gemini Dollar (GUSD)

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The CoolWallet S provides GUSD users with secure storage and mobile app functionality via Bluetooth connectivity

CoolBitX, the Taiwan-based blockchain security company and creator of the first mobile hardware wallet for digital assets, and Gemini, a New York based cryptocurrency exchange and custodian, have announced that the CoolWallet S will support Gemini dollar (GUSD). The wallet, which looks and feels like a credit card, offers cold storage and mobility through bluetooth connectivity — allowing users to access their GUSD holding via Android or iOS device pairings. It will also be the first to automatically load and make GUSD available to users, streamlining the experience for GUSD users.

“This is a major milestone for CoolBitX, given Gemini’s focus on providing users a safe, secure and regulated cryptocurrency experience that is easily-accessible to users that are new to crypto or inexperienced,” said Michael Ou, CEO of CoolBitX. “CoolBitX was founded on these very same principles, and we’re incredibly proud to now support the first regulated stablecoin in GUSD on the CoolWallet S. Not only can GUSD users now easily manage their holdings securely, but in the years ahead we hope to make daily commercial transactions with GUSD via the CoolWallet S as simple as using any other form of NFC payments technology.”

With the integration, CoolWallet S users can not only store Gemini dollar on their wallets but can easily acquire GUSD right from the mobile app via Changelly. While other hardware wallets on the market today offer secure storage for a variety of digital assets – including other stablecoins – the CoolWallet S is the first to leverage Bluetooth connectivity to provide an additional layer of security and convenience for cryptocurrency users. Unlike traditional two-factor authentication mechanisms, with bluetooth-enabled devices the user needs to have both the mobile app and hardware wallet on hand in order to execute any transactions. This makes it near impossible for malicious actors to hack the wallet and deprive users of their GUSD, but without sacrificing the convenience and transactional exchange capabilities of the wallet itself. 

”We’re very excited that the CoolWallet S will support the Gemini dollar. We believe GUSD will be instrumental in the continued evolution of transacting value on the blockchain and we’re incredibly encouraged by its adoption by key players such as CoolBitX”, said Sarah Olsen, Gemini’s Head of Corporate Development. 

GUSD is currently available on more than 60 exchanges worldwide, and all CoolWallet S users can now manage their GUSD holdings without restriction. For more information on GUSD, please visit https://gemini.com/dollar/. And for more information on CoolBit X and the CoolWallet S, please visit https://coolbitx.com/ and https://coolwallet.io/, respectively.

About CoolBitX Technology Ltd.: 

CoolBitX Technology Ltd. (CBX) is a Taiwan-based blockchain security company and creator of the firshttps://coolbitx.com/t mobile hardware wallet for digital assets. CBX leverages the power of the blockchain to return personal data to the individual and foster a more secure and empowered future. Founded in 2014 by Michael Ou and backed by investors like SBI Holdings and Bitmain, CBX specializes in the manufacturing of U.S.-patented digital asset hardware and developing smart contract platforms for millions of global users. In 2016, CoolBitX introduced its first generation wallet, and released the CoolWallet S in 2018 – the world’s first credit card-sized hardware wallet for Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, Horizen, and ERC20 Tokens. Currently focusing on AML and regulation compliance, CoolBitX is paving the path towards cryptocurrency mass adoption. For more information on CoolBitX, visit https://coolbitx.com/. 

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CoolBitX Announces Membership with ABACA to Accredit Cold Storage Solution for Security Tokens in CEZA’s Crypto Valley of Asia

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The Asia Blockchain and Crypto Association (ABACA) will be offering technology backed by CoolBitX as the first accredited cold storage solution for digital assets supported by CEZA licensees

CoolBitX, the Taiwan-based blockchain security company and creator of the first Bluetooth mobile hardware wallet for digital assets, the CoolWallet S, is engaging in a strategic technology partnership with the Asia Blockchain and Crypto Association (ABACA), the appointed Self-Regulatory Organization (SRO) of the Cagayan Economic Zone Authority (CEZA), to create a more secure environment for tokenized securities in the years ahead. A Memorandum of Understanding (MoU) was recognized by the Taiwan Crypto Blockchain Self-Regulatory Organization (TCBSRO) on January 30. 

“We’re thrilled to have officially signed this MoU to begin growing the security token industry in CEZA and the Philippines as it has grown successfully in other jurisdictions,” said CoolBitX Founder and CEO Michael Ou. 

ABACA’s membership consists of all of the CEZA licensed FinTech Companies and Offshore Virtual Currency Exchanges including Formosa Financial from Taiwan, as well as all of the CEZA authorized 3rd Party Service Providers. CoolBitX will work closely with ABACA and its members to tailor fit its products and services according to CEZA’s Rules and Regulations, especially around the recently published Digital Asset and Token Offering (DATO) Rules, which cover Security Token Offerings (STOs) among other digital assets. Under this new framework, CEZA remains the principal regulating authority with ABACA acting as the enforcer.

Taiwan Legislator and Congressman Jason Hsu added: “We officially kicked off the partnership between Taiwan and ABACA, which is why I’m delighted to see ABACA also moving forward with a partnership with CoolBitX. CoolBitX is one of Taiwan’s most innovative startups, spearheading the creation of the first mobile hardware wallet on the market today and becoming an industry leader in security and compliance best practices. I fully support the CoolBitX-ABACA partnership and hope more Taiwanese blockchain startups will follow suit and invest in the Southeast Asia market.”

“We are pleased to offer CoolBitX’s technology as the first accredited cold storage solution for ABACA’s members to continue to build a more compliant and secure business environment which will appeal to all of our stakeholders,” said ABACA Director and Trustee Mel Songco. “We look forward to pushing the envelope with CoolBitX for CEZA to lead in this space and provide the safety and security needed for the global ecosystem.”

About ABACA:

The Asia Blockchain and Crypto Association (ABACA) has been granted Self-Regulatory Organization (SRO) Status by CEZA as the governing Business Association for all Financial Technology Solutions Business Enterprises, Offshore Virtual Currency Exchanges and 3rd Party Service Providers in the Crypto Valley of Asia. Together, they are forming a Regulatory Advisory Panel composed of foreign and local subject matter experts. This panel will provide guidance and promote global best practices in the dynamic and evolving space of Blockchain/DLTs, Digital Assets and FinTech. ABACA also serves as CEZA’s Policy and Regulatory Research Center.

 

About CEZA:

The Cagayan Economic Zone Authority (CEZA) is a Philippine government agency tasked to develop, promote, manage and operate the Cagayan Special Economic Zone and Free Port (CSEZFP) as a viable transshipment hub with a modern seaport and airport and ample surrounding land area for industrial, commercial and tourism development.  CSEZFP is an international gateway with diverse sustainable industries and dynamic economic activities in Asia Pacific, which stimulates local development and inclusive growth in Northern Philippines and neighboring provinces. 

The Cagayan Special Economic Zone and Free Port is the home of the Crypto Valley of Asia which serves as a hub for a new wave of Financial Technology (FinTech) companies establishing their operations in the zone. CEZA recognizes the invaluable contribution of FinTech in worldwide trade and commerce and its potential to induce and accelerate the sound and balanced industrial, economic and social development of its jurisdiction. In line with this, CEZA, under Republic Act 7922, and under Article XII of its Implementing Rules and Regulations, has the ability to regulate Foreign Exchange and Investments Enterprises, Offshore Banking Units and Affiliates and other pioneering financial companies, while providing them with a highly evolving and connected entrepreneurial and technological environment.

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