HBAR Comes to SafePal as Wallet Adds Hedera Compatibility

• Hedera enables SafePal users to store, send, and receive HBAR on the mobile app and hardware wallets.
• Hedera is making waves in payments, fintech, RWA, and the environmental credit marketplace, distinguishing HBAR from its contemporaries.

SafePal, a non-custodial crypto wallet suite, has onboarded the Hedera (HBAR) network. Through this integration, the SafePal software and hardware wallet will support native assets on Hedera EVM.

SafePal Updates Wallet App With HBAR Integration

As revealed in a blog post, users can now store, send, and receive HBAR due to the latest SafePal wallet app update.

Also, SafePal users can use decentralized applications (dApps) products and Hedera native assets.

Essentially, the integration with Hedera EVM improves cross-chain interoperability for SafePal users. It allows seamless management of Hedera assets alongside thousands of other cryptocurrencies.

Hedera will also benefit from the integration. The blockchain will gain increased adoption from users and developers through the SafePal community.

Note that the SafePal wallet suite has gained popularity since launching in 2018. At the moment, the app supports more than 25 million users, making it one of the most used in the market. As part of its reach, it is supported by Binance and Animoca Brands, a proof of how reliable it is

Hedera uses hashgraph consensus, which makes it very fast. The protocol has high throughput, low fees, fast finality, and is compatible with the Ethereum Virtual Machine (EVM). 

Developers can deploy Solidity smart contracts on the blockchain, similar to how it is done on Ethereum. They can do this while also benefiting from Hedera’s unique advantages, such as predictable costs and carbon-negative operations.

Why Hedera?

As outlined in our recent blog post, Hedera represents the decentralized finance (DeFi) balance for both users and institutions. Individuals, banks, fintechs, and DeFi protocols utilize the blockchain to move value faster and cheaper than traditional systems.

The Hashgraph Consensus serves as a key enabler of equal efficiency. The mechanism ensures that transactions are finalized in strict arrival order, with throughput in the tens of thousands of TPS.

To further expand the network, Hedera has dived deeper into the real-world asset tokenization sector. In a previous article, we discussed the Hedera Foundation integrated with Ownera, a distribution network used by financial institutions. 

Hedera has also gained acceptance by State governments. As featured in our recent coverage, the U.S. State of Virginia built an environmental credit marketplace on the Hedera blockchain. This marketplace offers a new approach to how environmental credits are issued, tracked, and traded.

Another positive ecosystem development worth mentioning is the CME Group’s launch of an HBAR pricing index. Analysts claim standardized Hedera price data is critical for institutional adoption, benchmarks, indices, and structured products.

For now, the HBAR token has yet to respond positively to the recent developments on the Hedera network. Amid a broader market decline, HBAR is down 2.3% over the previous day to $0.1105.