SafePal has launched its Telegram Mini Wallet App, providing Swiss bank-backed accounts to 950 million users. The app integrates CeDeFi principles, offering a secure and compliant crypto banking experience. SafePal aims to expand its reach with a digital Mastercard card and increased blockchain interoperability.
The self-custodial wallet provider has officially launched its Telegram Mini Wallet App, integrating CeDeFi principles within a Telegram Mini App. The app allows Telegram’s 950 million users to create compliant crypto-friendly bank accounts regulated by the Swiss Financial Market Supervisory Authority (FINMA).
The app enables users to conduct transactions with a digital Visa card, enabling easy exchanges between crypto and fiat currencies within Telegram. The onboarding process emphasizes user safety and compliance. After completing Know Your Customer (KYC) checks, users can connect their newly created bank accounts to the digital Visa card.
SafePal emphasizes that ‘registration data and cash accounts are managed separately by Fiata24.’
SafePal’s strategic vision for growth includes equipping the wallet with a swap function, enabling users to leverage over 100 blockchains for increased interoperability. Additionally, plans for geographical expansion are underway, with a focus on European and Asia-Pacific regions.
In the final quarter of 2024, the launch of a digital Mastercard card is projected to further expand user choice.
