Decentralized cryptocurrency exchange and Binance Ecosystem partner 1inch announced integration with a cryptocurrency hardware wallet called Safepal. The official blog post of the platform revealed,
“SafePal has successfully integrated 1inch Exchange Dapp within the SafePal App”
Notably, Safepal happens to be the first hardware wallet backed by the cryptocurrency exchange, Binance
and Binance Labs. It recently announced PancakeSwap support to its SafePal App. The recent incorporation of Pancake within the SafePal App was aimed at enabling users to take part in the growing Binance Smart Chain development in the DeFi space.
Veronica Wong, Chief Executive Officer had earlier stated,
“SafePal has been dedicated to building the most secure and powerful cryptocurrency wallet for the masses. Till now SafePal has grown into the most comprehensive crypto management tool with the integration with 19 blockchains, DEXes, Dapps and Market, enabling users to secure, send, buy, swap, and trade crypto all in one. We are excited to witness the steady and robust growth of SafePal, and looking forward to serving every crypto user in a better way”
Besides, Safepal had previously integrated with prominent Ethereum-based DeFi projects which included Uniswap, Compound, and AAVE. Shortly thereafter, the platform announced collaboration with Binance Smart Chain, BEP20 tokens as well as all BSC-based Dapps are now fully integrated and available in the SafePal wallet.
Meanwhile, the latest 1inch-Safepal news comes a day after the exchange announced collaborating with cybersecurity solutions platform, Hacken to enhance its security by auditing its code, APIs, and infrastructure. It had further revealed that the Hacken team would aim on assisting as a crypto exchange auditor.
User Stats
1inch’s user statistics have maintained a consistent upward trajectory similar to ‘other prominent DeFi platforms. Its association with the world’s leading crypto exchange Binance has further boosted its standing in the decentralized finance ecosystem. As of 20th October 2020, there were 30,838 users on its platform.
According to data available on Crunchbase’s website, 1inch secured $2.8 million in a seed round a few months ago. In addition, this funding round saw investments from the likes of DragonFly Capital, FTX exchange, and Binance Labs.