A crypto company claims it is offering “the fastest Bitcoin transfer in the world” after adding a brand-new service to its crypto wallet.
SovereignWallet says its platform offers banking-grade features to protect user assets, all the while ensuring that completing transactions is as simple as “sending a text.”
Until now, those who use Ethereum, ERC20 tokens and the company’s own utility token – MUI – have benefited from a system where they can send crypto to their friends simply by clicking on their profile – directly from their smartphones. Notifications are subsequently sent when a transfer has been completed.
A new feature means that Bitcoin users can enjoy the same advantages – giving them a way to send and receive the cryptocurrency in a few seconds. According to the company’s CEO Seogku Yun, transfers of Bitcoin between SovereignWallet users are confirmed within 15-20 seconds due to the end-to-end encrypted side channel established between the sender and receiver. Mr. Yun says it is one of the first crypto wallets available on the market that doesn’t require a Bitcoin address in order for a transaction to take place.
SovereignWallet’s smartphone-based offering is designed to appeal to the unbanked, giving them a chance to avoid the “exorbitantly high fees” that have long been linked with sending remittances. The addition of Bitcoin to its crypto wallet is set to give users more choice – and address one of the biggest pitfalls with using this cryptocurrency: slow transaction speeds.
The company’s product is complemented by a secure chat feature – enabling fellow SovereignWallet users to benefit from end-to-end encryption during one-on-one and group conversations.In a bid to appeal to as wide an audience as possible, SovereignWallet is available in several languages – English, Korean, Chinese, Vietnamese, Russian, Japanese and Portuguese among them. More are expected to follow in not-too-distant future.