Crypto Wallet CoolBitX Raises $13M In Funding, Partners With Litecoin

Announcements, Investing, News | September 17, 2018 By:

Crypto hardware wallet CoolBitX has raised $13 million in funding from investors, including SBI Holdings, Midana Capital, OwlTing, Kyber Capital and Bitmain.

Founded in 2014 by Michael Ou, CoolBitX is a Taiwanese FinTech firm specializing in manufacturing secure, US-patented digital asset hardware and developing smart contract platforms. The company’s credit card-sized crypto wallet, called CoolWallet S, combines security and mobility. It currently supports bitcoin, Litecoin, ethereum, XRP, Bitcoin Cash, and other ERC20 tokens. The wallet’s iOS or Android app reports currency balances, seeds, currency amounts and addresses on its e-ink display. It also features a physical confirmation button that allows users to confirm and authorize crypto payments.

The company said the funding will be used to open an office in the United States in order to expand its American presence.

“At CoolBitX, we want to eliminate pure, insecure software wallets and bring hardware wallets up to date by introducing the CoolWallet S,” said Michael Ou, Founder and CEO of CoolBitX. “We’re proud to be launching the CoolWallet S in America as a bridge between blockchain and greater audiences.”

CoolBitX also announced its partnership with the Litecoin Foundation to launch a co-branded CoolWallet S for sale exclusively during the Litecoin Summit event and on Litecoin Foundation’s website. In addition, Charlie Lee, Founder of Litecoin, will be an official CoolBitX advisor.

“This is an exciting opportunity to partner with Charlie Lee and the Litecoin Foundation, and we look forward to being the next generation of blockchain pioneers,” Ou said.

Lee, who will bring visionary expertise in scalability and his mission to achieve mass adoption of cryptocurrencies to the partnership, calls the CoolWallet S one of the best hardware wallets he has ever used.

“It has one important feature that’s missing from every other hardware wallet: ease of use,” Lee said. “It combines the security of hardware wallets with the ease of use of mobile wallets, a crucial step towards mass adoption.”