Gemini’s Stablecoin Added To CoolBitX’s Crypto Hardware Wallet

News | March 26, 2019 By:

Crypto hardware wallet provider CoolBitX has announced that its credit card-sized crypto wallet CoolWallet S has added support for Gemini’s stablecoin GUSD.

Based in Taiwan, CoolBitX is a FinTech firm specializing in manufacturing secure, US-patented digital asset hardware and developing smart contract platforms. Backed by SBI Holdings, Midana Capital, OwlTing, Kyber Capital and Bitmain, the firm rolled out the CoolWallet S wallet last year. The wallet’s mobile 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.

GUSD, which was launched last year by Gemini founders Cameron and Tyler Winklevoss, is structured as an ERC-20 token on the ethereum blockchain. The token has been approved by the New York Department of Financial Services (NYDFS). With the integration, CoolWallet S users can not only store Gemini Dollar on their wallets but can easily acquire GUSD right from the mobile app via Changelly.

“We’re very excited that the CoolWallet S will support the Gemini dollar,” said Sarah Olsen, Gemini’s head of corporate development. “We believe GUSD will be instrumental in the continued evolution of transacting value on the blockchain and we’re incredibly encouraged by its adoption by key players such as CoolBitX.”

Michael Ou, CEO of CoolBit, said that the addition of GUSD is a major milestone for CoolBitX, given Gemini’s focus on providing users a safe, secure and regulated cryptocurrency experience that is easily-accessible to users that are new to crypto or inexperienced.

“CoolBitX was founded on these very same principles, and we’re incredibly proud to now support the first regulated stablecoin in GUSD on the CoolWallet S,” Ou said. “Not only can GUSD users now easily manage their holdings securely, but in the years ahead we hope to make daily commercial transactions with GUSD via the CoolWallet S as simple as using any other form of NFC payments technology.”