SafePal wallet team has released an update with support for Bitcoin-NFT and banking gateway
The company also announced strategic investments in the Swiss bank Fiat24
The developers of the decentralized SafePal crypto wallet integrated with the Binance crypto exchange have introduced update 4.5.0, which adds support for non-interchangeable tokens (NFT) based on the bitcoin blockchain. The new version also includes a banking gateway and the ability to link a virtual Visa crypto card.
The bank gateway and Visa card will be implemented first in selected regions of Europe, and then spread to the entire continent and other countries (with the exception of the United States and countries subject to US sanctions).
The new services were launched as part of SafePal's strategic investment in Swiss bank Fiat24. The wallet team clarified that according to the norms of the local financial regulator FINMA, registration data for the provision of services will be available only to individual divisions of Fiat24. Fiat accounts will also be managed separately by the bank to maintain decentralization and anonymity.
Eligible users will be able to open individual Swiss bank accounts in their name without any account creation or annual management fees, use cryptocurrency for daily expenses and make transfers from other bank accounts. Visa virtual cards support third-party payment platforms such as Paypal, Google Pay, Apple Pay and Samsung Pay.
After creating bank accounts in the SafePal mobile wallet, the details will be released in NFT format on the second-level (L2) Arbitrum network based on the Ethereum blockchain. All transactions will be recorded on the blockchain, ensuring immutability and transparency.
By default, the wallet uses USDC stablecoins from the Circle issuer as a deposit cryptocurrency. Users can exchange cryptocurrencies from more than 40 blockchains to the USDC on the Arbitrum network to send funds to bank accounts via a mobile wallet, followed by conversion to fiat, including the dollar, euro and Swiss franc.
