Taiwanese crypto hardware wallet manufacturer CoolBitX has received US$13 million in funding from investors, including Japanese VC investor SBI Holdings, Midana Capital, OwlTing, Kyber Capital, and Bitmain.
Concurrently, the startup has also announced a partnership with Singapore-based Litecoin Foundation. Additionally, CoolBitX plans to open a US office in order to expand its American presence.
Founded in 2014 by Michael Ou, CoolBitX specialises in manufacturing digital asset hardware and develops smart contract platforms for users.
The company offers CoolWallet S, a credit card-sized crypto wallet whose features include e-ink display (reports currency balances, seeds, currency amounts, and addresses), physical confirmation button (with the tap of a button, users can confirm and authorise crypto payments), secure cold storage and bluetooth connectivity (users can spend and exchange coins on the go), 2+1 factor authentication security, damage-proof (waterproof, heat and cold resistant, and tamper-proof), over-the-air updates (currently supporting Bitcoin, Litecoin, Ethereum, XRP, Bitcoin Cash, and ERC20 Tokens, CoolWallet S adds support for new currency each month via OTA updates for free).
The partnership with LiteCoin Foundation brings its MD Charlie Lee as an official CoolBitX advisor. Together, CoolBitX and Litecoin Foundation will launch a co-branded CoolWallet S for sale exclusively during the Litecoin Summit event and on Litecoin Foundation’s website. This will grant CoolBitX access to Litecoin Foundation’s significant userbase. Moreover, Lee brings his visionary expertise in scalability and his mission to achieve mass adoption of cryptocurrencies to the partnership. In turn, the CoolWallet S will be a consumer-friendly device that will help make Litecoin go mainstream as a universal payment tool.
“At CoolBitX, we want to eliminate pure, insecure software wallets and bring hardware wallets up to date by introducing the CoolWallet S,” said Founder Ou. “We are launching the CoolWallet S in America as a bridge between blockchain and greater audiences.”
“The CoolWallet S is one of the best hardware wallets I’ve ever used,” said Charlie Lee, Creator of Litecoin and Managing Director of the Litecoin Foundation. “It has one important feature that’s missing from every other hardware wallet: ease of use. It combines the security of hardware wallets with the ease of use of mobile wallets, a crucial step towards mass adoption.”
Because of CoolWallet S’s commercial success for the first three quarters of 2018, CoolBitX has been able to significantly reduce its production costs. As a result, the CoolWallet S will now be available for US$99.