Since the advent of cryptocurrency, there have been various issues facing the technology, and some of these issues have prevented the mainstream adoption of cryptocurrency. The high volatility of digital assets’ exchange rates, lack of good security, lack of interconnectivity between different types of digital assets, uncertainty, among other issues, are plaguing the adoption of cryptocurrency. However, as days roll by, better ways of handling and dealing with cryptocurrency keep getting created. Already the use of cryptocurrency has started causing disruptions in the financial markets, and FinTechs are jumping in on the trend.
The Partnership between CoolBitX and Circle
CoolBitX, makers of one of the most secure hardware wallets in the crypto world have sought out ways to make their wallets even better, by going into a partnership with Circle. The revolutionary partnership between both companies is a way of transforming innovative technologies to perform better, and thus enhance effectiveness, efficiency and productivity. The aim of the partnership is to make it easier for users of the USDC stablecoin to securely store them on the CoolWallet S, and also enhance transactions from the wallet with the USDC stablecoin.
Benefits of the Partnership
People who have the CoolWallet S have a lot to benefit from the partnership, as it has paved the way for more people to join the community. Some of the benefits include:
- Enhanced security, with an added security feature called 2 + 1 factor authentication
- Users will be able to carry out exchanges and transactions, quickly and effectively
- The hardware wallet and the app function independently of each other without the use of 3rd party applications or passkey sharing.
- Users can use the button available on the hardware wallet to also confirm a USDC stablecoin transaction.
- The stablecoin is scalable.
- The volatility of crypto exchange rate will be minimized, while security and ease of doing business will get maximized.
- Investors looking to invest can use the partnership as a good tool for hedging their stablecoin portfolios.
- Users do not have to border about the exorbitant costs of carrying out cross-border transactions, as it becomes easier with the partnership, regardless of place and time.
- With the aid of the CoolBitX native app, users now have the opportunity to carry out exchanges between USDC and other digital assets, and USDC with fiat currencies.
- The wallet is versatile, as it affords users the ability to store and use any ERC-20 token, and there will be no need of 3rd party applications to achieve that.
Michael Ou, who is the founder and CEO of CoolBitX, is optimistic about the partnership, one of the many reasons being the scalability of stablecoins because they are pegged with assets that are stable.
Innovative technologies in FinTech may just be the way forward, as they will correct the many irregularities in the traditional financial industry, the disruption has begun with the use of cryptocurrency, and the significance in the industry cannot be overemphasized.
See CoolWallet S https://coolwallet.io/