CoolBitX Launches Special Edition Binance Chain x CoolWallet S Hardware Wallet

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Bluetooth-enabled wallet provides on-the-go storage and protection for BUSD, BNB and Binance DEX users

CoolBitX, an international blockchain security company and creator of the first credit card-sized hardware wallet that allows for bluetooth-enabled smartphone pairing, announces a collaboration with Binance Chain blockchain to launch a special edition of CoolWallet S. Whereby most hardware wallets require USB connections to computers, the Binance Chain x CoolWallet S provides the Binance Chain community with the ability to securely store BUSD, BNB, and integrate with decentralized cryptocurrency exchange Binance DEX, while optimizing for mobility through its bluetooth pairing feature. 

Binance's co-branded CoolWallet S

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Blockchain Security Company CoolBitX Releases Sygna Bridge

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Japanese exchanges SBI VC, Coincheck, and BITpoint sign MOUs to begin implementing secure and compliant data sharing

CoolBitX, a blockchain security company and creator of the first hardware wallet that allows for bluetooth-enabled smartphone pairing, releases the first part of its two-part Sygna solution — Sygna Bridge. Sygna Bridge is a simple and secure API for compliant data sharing that acts as an encrypted portal by which Virtual Asset Service Providers (VASPs) may comply with the Financial Action Task Force (FATF) “travel rule.” 

In addition, Japanese exchanges SBI VC, Coincheck, and BITpoint, and other unnamed exchanges have signed Memorandums of Understandings (MOUs) with CoolBitX, joining a consortium of VASPs to begin or consider implementing Sygna Bridge. Currently, the consortium, named the Sygna Alliance, includes BitSonic (KR), MaiCoin (TW), Bitopro (TW), and other exchanges throughout the APAC region, some of which have begun testing Sygna Bridge within their own infrastructures. 

Michael Ou, CEO of CoolBitX, said: “For the past several months, the CoolBitX team has been actively engaging in conversations with cryptocurrency exchanges and other VASPs that have already been performing due diligence and know your customer (KYC) checks with their customers. These service providers understand the necessity to implement a system that can effectively combat money laundering and are eager to comply with the FATF’s travel rule as quickly as possible. However, these service providers have been operating in silos and need a secure way by which to share this information with other VASPs that have also been in compliance. Sygna Bridge is the answer to these requests and we are pleased to be able to provide a first-to-market working solution for the industry.”

Back in June 2019, the FATF released its latest guidance for risk-based approach to Virtual Assets and VASPs. With the guidance, the FATF required VASPs to comply to the travel rule, requiring exchanges to collect and transfer customer information during transactions. With Sygna Bridge, originator and beneficiary VASPs will independently perform KYC on their own accounts and verify personally identifying information (PII). During the transaction, the originator and beneficiary firms will exchange verification of the PIIs through the encrypted Sygna Bridge and both firms will be required to keep copies of the originator and beneficiary details. However, no PII will be exchanged, held, or recorded over Sygna Bridge. For VASPs, Sygna Bridge’s low integration and maintenance costs will ensure minimal disruption to their business models and end-user experience. 

Yoshitaka Kitao, Representative Director, President & CEO of SBI Holdings, Inc. said: “SBI VC is proud to be one of the first VASPs to join the Sygna Alliance. Earlier this year, SBI VC began using CoolBitX’s technology through CoolXWallet, which has given us a simple way to protect our customers while complying with Japanese and international KYC standards. Sygna Bridge is another major step in our compliance efforts, whereby members of the Sygna Alliance may seamlessly and efficiently share KYC information without being constricted to a closed loop. ”

For the FATF’s 37 member countries, the travel rule has long been a requirement for international banks when sending each money to each other on customers’ behalf. The rule now extends to cryptocurrency transactions and all VASPs within the FATF member countries will need to comply with the rule by October 2020.

Toshihiko Katsuya, President of Coincheck Inc,said: “For many VASPs that have been in operation for years, the task of being fully compliant with the FATF rules may seem daunting and potentially disrupting day-to-day business. CoolBitX’s solution is truly unique and is undisruptive to the way to both our business operations and to our users.Therefore we are discussing with CoolBitX implementation of the Sygna Bridge Solution as a strong candidate. 

About CoolBitX Technology Ltd.:

CoolBitX Technology Ltd. (CBX) is an international blockchain security company that specializes in designing and implementing U.S.-patented digital asset compliance software and hardware platforms for millions of global users. Founded in 2014 by Michael Ou and backed by an investment from SBI Holdings, CoolBitX introduced its first generation wallet in 2016, and released the CoolWallet S in 2018. With all its security features pared down to the size of a credit card, CoolWallet S is the world’s first hardware wallet that allows for bluetooth-enabled pairing with users’ mobile phones. CoolWallet S also stores multiple digital assets, including BTC, ETH, LTC, XRP, BCH, ZEN, BNB, and ERC20 tokens. Currently, CoolBitX is focused on the development of Sygna, a complete KYC/AML solution that will foster optimal regulatory compliance and greatly improve the reputation and operations of the virtual currency industry at large. For more information on CoolBitX, visit https://coolbitx.com/.

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CoolBitX Recognized as Industry Leader in Digital Wallet Innovation by Global Research and Advisory Firm, Aite Group

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Flagship product CoolWallet S emerges as winner in Product Design category

CoolBitX, a blockchain security company and creator of the first bluetooth-enabled mobile hardware wallet for digital assets, is honored to have been recognized by Aite Group’s 2019 Digital Wallet Innovation Awards. CoolBitX’s flagship product, CoolWallet S, is the winner in the ‘Product Design’ category. The awards were announced this week at the Mobile Payments Conference in Chicago, recognizing the innovation achieved by digital wallet providers in the collective goal to eliminate friction in mobile commerce.

CoolBitX CEO Michael Ou said: “This year marks the five year anniversary of CoolBitX and to receive recognition from a well-known organization such as Aite Group for our efforts to date in providing a user-friendly, secure, and well-designed product to consumers is an incredible milestone for us. With the high level of competition in this year’s awards, being recognized as a leader in product design for digital wallets confirms that the energy necessary to bring CoolWallet S to market has been well-spent. I am very thankful for my incredible team who have made the past five years of CoolBitX’s possible. This award has reaffirmed our dedication to continued innovation in user-friendly wallet services.”

First released in 2018, CoolWallet S is a credit card-sized hardware wallet that is the first to allow bluetooth-enabled pairing with users’ mobile phones. Whereby most hardware wallets require USB connections to computers, CoolWallet S is optimized for mobility and its bluetooth pairing feature allows for secure cryptocurrency storage on the go. Cryptocurrency markets are notoriously fast-moving, but unfortunately, cryptocurrency exchanges are frequently hacked. Users who may want to trade cryptocurrencies on their phones may do so and still safely store their virtual assets almost immediately without having to wait until they are in front of a computer. In addition, CoolWallet S allows users to store and protect multiple digital assets, including BTC, ETH, LTC, XRP, BCH, ZEN, BNB, and ERC20 tokens.

“Digital wallets play a key role in the evolution of the payment ecosystem. This year, we have seen an exclusion of innovation and we are glad to be able to recognize CoolWallet S in this year’s awards,” said Thad Peterson, senior analyst at Aite Group. “Our panel of external experts on digital payments and wallets picked CoolWallet S for its innovation, its fit with current and future market needs, and its scalability across its customer base. While the win is not an endorsement by Aite Group, the technology behind the product and the company’s roadmap is very exciting to our panel.”

CoolBitX continues to innovate and is constantly adding new integrations to CoolWallet S, building the CoolWallet brand and meeting the demands of the ever-growing digital asset market.

To request additional information about Aite Group’s Digital Wallet Innovation Awards, please contact pr@aitegroup.com.

About CoolBitX Technology Ltd.:

CoolBitX Technology Ltd. (CBX) is an international blockchain security company that specializes in designing and implementing U.S.-patented digital asset compliance software and hardware platforms for millions of global users. Founded in 2014 by Michael Ou and backed by an investment from SBI Holdings, CoolBitX introduced its first generation wallet in 2016, and released the CoolWallet S in 2018. With all its security features pared down to the size of a credit card, CoolWallet S is the world’s first hardware wallet that allows for bluetooth-enabled pairing with users’ mobile phones. CoolWallet S also stores multiple digital assets, including BTC, ETH, LTC, XRP, BCH, ZEN, BNB, and ERC20 tokens. Currently, CoolBitX is focused on the development of Sygna, a complete KYC/AML solution that will foster optimal regulatory compliance and greatly improve the reputation and operations of the virtual currency industry at large. For more information on CoolBitX, visit https://coolbitx.com/.

About Aite Group:

Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

About the Mobile Payments Conference

Mobile Payments Conference is the premier annual conference and exhibition on the future of alternative payments worldwide. MPC is known for bringing together thought leaders, innovators and decision-makers from financial, technology, government, retail, marketing, and mobile industries to discuss the evolution of the payments industry. Attendees benefit from access to the world’s foremost experts in emerging payments and commerce, blockchain and digital currencies, cybersecurity and consumer privacy, customer experience and loyalty, and customer engagement and marketing.

About MPC19

MPC19, the 13th Mobile Payments Conference, is taking place August 26 to 28 at the Swissôtel Chicago. This year’s theme, “Global Commerce in Motion: Enabling Frictionless Mobile Payments,” focuses on the impact of the 5G revolution on mobile commerce and removing friction from the payments process for users and merchants. For more information or to register, visit

www.mobilepaymentconference.com

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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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CoolBitX Partners With Leading Japanese Exchange to Pilot Industry-First KYC/AML Compliant Solution

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SBI Virtual Currencies to leverage CoolBitX wallet for private key storage and enhanced security measures 

CoolBitX, the Taiwan-based blockchain security company and creator of the first mobile hardware wallet for digital assets, today announced a partnership with SBI Virtual Currencies (VC), one of Japan’s leading cryptocurrency exchanges, to pilot a one-of-a-kind Know Your Customer / Anti-Money Laundering (KYC/AML) compliant solution. To implement the solution, all SBI VC users will be provided with a CoolBitX hardware wallet, the CoolXWallet (CXW), to store their private keys. The wallet addresses will be linked to the user’s KYC’ed SBI VC exchange account, allowing customers to only withdraw digital assets to their also KYC’ed CoolXWallets. This solution will add an extra layer of user verification that will greatly enhance security and prevent the likelihood of money laundering and other illicit activities.

The CoolXWallet will come with pre-generated private keys and addresses for the user. This allows SBI VC to be certain that users’ wallet addresses won’t change. 

Michael Ou, Founder and CEO of CoolBitX, said: “This partnership is a crucial aspect to having and maintaining better security on exchanges. KYC/AML requires individuals to prove their identity, which ensures all trades on an exchange are legitimate transactions. We’re issuing this industry-first KYC/AML compliant solution to SBI VC to continue providing the best security practices in the industry. Our CoolXWallet and regulation compliance practices are speeding up the path towards cryptocurrency mass adoption, and we’re looking forward to expanding this solution to other exchanges globally.” 

Currently, this pilot is only available to SBI VC users in Japan. However, CoolBitX plans to make this a global effort by partnering with other exchanges worldwide. 

Yoshitaka Kitao , Chairman of SBI Holding Group, said: 

The CoolXWallet is based on the hardware design of CoolBitX’s flagship product, the CoolWallet S. The wallet is the world’s first mobile hardware wallet shaped like a credit card and offers cold storage and mobility through bluetooth connectivity, allowing users to access digital assets on their hardware wallet via a pairing of Android or iOS devices. In doing so, the CoolWallet S provides superior identity security and data privacy. 

The digital assets available on the CXW include: BTC, BCH, XRP, and ETH.

For more information on CoolBitX, visit https://coolbitx.com/.
For more information on the CoolWallet S, visit https://coolwallet.io/.  

About CoolBitX Technology Ltd.: 

CoolBitX Technology Ltd. (CBX) is a Taiwan-based blockchain security company and creator of the first 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/. 

 

CoolWallet S:

CoolWallet S is the world’s first mobile hardware wallet for Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, Horizen, and ERC20 Tokens. CoolWallet S officially launched in March 2018, offering cold storage and mobility through bluetooth connectivity, allowing users to access digital assets on their hardware wallet via a pairing of Android or iOS devices. The US-patented hardware wallet is shaped like a credit card and enables the secure storage of private keys. CoolWallet S provides superior identity security and data privacy, allowing users to secure their investments in minutes. In doing so, CoolWallet S presents an ecosystem for users to confidently interact with their digital assets, and offers secure, end-to-end control of the user’s cryptocurrency. For more information about CoolWallet S, visit https://coolwallet.io/ and for more information on CoolBitX Technology Ltd., visit https://coolbitx.com/.

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