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With $4M In Private Funding, Safle's Vision Of Identity-Based Crypto Security Gets Closer To Reality


coingape.com 09 December 2021 16:30, UTC
Reading time: ~4 m

Safle seems to be onto something with its idea of a secure digital identity that allows users to maintain full control over their cryptocurrency assets, with the ability to trade, swap or stake them freely. 

That idea, which is already close to fruition, has helped Safle raise $4 million in a private funding round that comes just one week ahead of the Initial DEX offering of its native $SAFLE token on Polkadot.

MapleBlock led the funding round along with Sanctum, GSR and Ghaf Capital Partners. The round attracted quite a bit of attention from individual investors too, with the likes of Innov8 founder Ritesh Malik, MahaDAO founder Steven Enamakel, the professional poker player Tony G., Purefi co-founder and BPO Sasha Antropov, and Frontiier Wallet founder and CEO Ravindra Kumar also backing Safle. 

The huge number of backers in Safle’s round validates its belief that asset storage is an extremely important consideration for crypto holders. Safle has created a multi-chain identity wallet that aims to give users greater peace of mind by protecting their assets using a secure private key management system. 

Safle is much more than just a wallet though – what it’s really building is a decentralized ecosystem in which participants gain added value with an integrated web3 browser that allows them to access dApps that meet the highest security and quality standards. 

The Safle wallet can be used on mobile devices and browsers and users have complete control over their private keys. With it, users can send, receive and store crypto assets, participate in staking and access hundreds of dApps. It also provides the ability to trade crypto tokens easily thanks to its unique multichain interoperability. 

The key feature of Safle is SafleID, which offers enhanced security capabilities such as multi-sig, time-locks, daily limits, trusted contracts, seedless money and more, so users can eliminate almost any kind of risk they can conceive of. 

Meanwhile the Safle DAO ensures the future direction of Safle is guided by the community of $SAFLE token holders.

“The Safle team has a strong focus on improving the DeFi user experience through their wallet,” said MapleBlock partner Vijay Garg. “Their UI/UX felt much superior to many of the existing solutions in the space.” 

Following the $SAFLE token’s IDO on Polkadot, Safle’s roadmap calls for the launch of its browser extension and mobile app, together with a completely revamped web app, before the end of the year. Features such as smart payments, self-sovereign IDs and staking will be added in 2022. 

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