KEY TAKEAWAYS
- SafePal integrates Hedera-EVM to enhance cross-chain interoperability, supporting native assets on Hedera within its wallets.
- Users can now store, send, and receive $HBAR and other assets through SafePal’s app and hardware wallets.
- Hedera’s open-source ledger offers high-speed, secure smart contracts and tokenization services.
- SafePal, backed by major investors, continues to expand its ecosystem, serving over 25 million users globally.
SafePal, a prominent non-custodial crypto wallet provider, has announced the integration of Hedera-EVM, a fully open-source, proof-of-stake public network. This integration aims to enhance cross-chain interoperability by supporting native assets on Hedera-EVM within SafePal’s software and hardware wallets.
With the latest update to the SafePal wallet app, users can now store, send, and receive $HBAR and other native assets through the SafePal mobile app and hardware wallet line. This development allows SafePal users to explore decentralized applications (dapps) within the Hedera EVM ecosystem.
Hedera’s Advanced Distributed Ledger Technology
Hedera is a fully open-source public distributed ledger that utilizes hashgraph consensus, known for its speed, fairness, and security. The network offers services such as Solidity-based smart contracts, native tokenization, and consensus services for building decentralized applications.
The EVM-compatible environment of Hedera enables developers to deploy Solidity smart contracts while leveraging Hedera’s advanced distributed ledger technology. Built on hashgraph consensus, Hedera provides high throughput, deterministic finality, and predictable transaction fees.
SafePal’s Expanding Ecosystem
Founded in 2018, SafePal is backed by Animoca Brands, Binance, and Superscrypt. It offers a comprehensive suite of crypto asset management solutions, including cross-chain swapping, trading, and yielding tools, as well as centralized exchange mini-programs and a banking gateway. SafePal serves over 25 million users globally across more than 200 regions and countries.
The integration of Hedera-EVM is part of SafePal’s ongoing efforts to expand its ecosystem and provide users with enhanced access to decentralized finance. More details about this integration can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
SafePal’s integration of Hedera-EVM represents a strategic move to enhance cross-chain interoperability, enabling users to interact with decentralized applications on the Hedera network through SafePal’s platforms.
Recent industry reports indicate that cross-chain interoperability is increasingly focusing on omnichain applications and enterprise adoption. This aligns with SafePal’s integration of Hedera-EVM, which facilitates seamless asset transfers and DeFi scalability across different blockchain ecosystems.
As per insights from Hedera’s strategy report, the introduction of EVM equivalence aims to leverage existing Ethereum developer expertise while offering Hedera’s unique advantages. This supports the significance of SafePal’s integration, as it potentially attracts more developers and decentralized applications to the Hedera ecosystem.
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