SafePal, a non-custodial wallet provider, has announced enhancements to its hardware wallet lineup through upgraded Secure Element chipsets, alongside the introduction of its Telegram Mini-wallet, which features banking integration and Mastercard support.
According to a recent press release from the company, SafePal has advanced its Secure Element chipsets from the Common Criteria Evaluation Assurance Level (CC EAL) 5+ to CC EAL 6+. This enhancement is aimed at fortifying the security of sensitive financial information during payment transactions, thereby protecting user data and mitigating risks associated with physical tampering and fraud.
SafePal further elaborated that the EAL certifications are indicative of rigorous security evaluations performed by independent third-party assessors under the Common Criteria framework. The company asserts that the transition to CC EAL 6+ “transcends conventional financial industry standards,” noting that typical EAL ratings for credit card chips range from EAL 4+ to EAL 5+.
SafePal continues to level up 
The Dual SE chipsets for our full hardware wallet line are now upgraded from EAL 5+ to EAL 6+ Users can now enjoy better quality components at the same affordable prices 
Learn more: https://t.co/0mbbIgmWIq pic.twitter.com/fCXE8hGaDG
— SafePal – Crypto Wallet (@iSafePal) April 6, 2025
In addition to hardware updates, the company has also implemented significant security improvements to its software and mobile wallet. These revisions include enhanced data parsing capabilities and transaction simulations for decentralized applications (dapps). Data parsing enables users to authenticate their transactions when operating with Safe (formerly Gnosis) multisig, while dapp transaction simulation allows users to preview potential asset outcomes before signing transactions.
The decision to pursue these upgrades stemmed from heightened security concerns. Veronica Wong, CEO and co-founder of SafePal, highlighted that such concerns have intensified in light of major security breaches, such as the $1.4 billion hack suffered by Bybit.
“The crypto security landscape needs to be continuously evolving alongside accessibility to ensure users remain safe,” Wong emphasized. “We’re thrilled to introduce these enhancements for our hardware wallets while keeping the prices affordable.”
Team Releases Telegram SafePal Mini
In addition to these upgrades, SafePal has unveiled its Telegram Mini-wallet, dubbed SafePal Mini. This wallet is touted as the first of its kind within the Telegram ecosystem, featuring a banking gateway and a digital crypto Mastercard.
The company has concluded extensive beta testing, indicating that the live release is designed to improve access to compliant and cryptocurrency-friendly banking for over 950 million Telegram users.
SafePal Mini users will have the ability to send and receive cryptocurrencies across more than 40 blockchains, including Ethereum, TON, BNB Chain, Arbitrum, and Base, with plans to add more blockchains such as Solana in future updates.
Introducing SafePal Mini, the telegram wallet with crypto friendly banking & #Mastercard supported by 40 M+ merchants Manage assets on 40+ blockchains Connect with trending Telegram & TON apps Crypto bank account licensed by FINMA 
Zero on-ramp, deposit, mgmt & setup fees pic.twitter.com/whRsgrhioB
— SafePal – Crypto Wallet (@iSafePal) April 6, 2025
Additionally, the banking gateway feature permits users to onramp cryptocurrencies using several fiat currencies, including US dollars, Euros, Swiss Francs, and Chinese Yuan, utilizing individually-owned compliant bank accounts regulated by the Swiss financial authority, FINMA.
Users will also have the capability to link their bank accounts to a digital Mastercard, which is accepted by major payment providers such as PayPal, Apple, Google, and Samsung Pay. SafePal anticipates expanding the banking gateway service to additional regions in Europe and the Asia-Pacific, along with plans to incorporate a swap function.
The WalletConnect Connection
In August 2024, SafePal unveiled SFPlus, a staking dapp that enables users to earn score privileges in the SafePal ecosystem by staking the native SFP token. The team has since forged a partnership with the open-source protocol WalletConnect to enhance tokenomics for SFP and integrated blockchain features.
At present, SFP is trading at $0.4512, reflecting a decline of 9.2%. The token has seen an 8.6% decrease over the past week, a 22% drop within the last month, and a substantial 38% decline year-over-year.
Despite these fluctuations, SFP reached an all-time high of $4.19 in February 2021, marking a 89% reduction since that peak, although it has risen 68.5% from its all-time low in June 2022.
SafePal operates as a non-custodial wallet suite and is backed by YZI Labs (formerly Binance Labs), Animoca Brands, and SuperScrypt, claiming a user base of over 20 million across 200 regions and 16 languages as of this latest announcement.
In March 2024, the company made a strategic investment in the Swiss bank Fiat24, with the objective of offering users a banking gateway to facilitate payments using digital assets and transfer funds to compliant financial institutions.
