U.S. startup VaultTel has introduced a hardware crypto wallet designed to fit in a mobile phone SIM card tray

United States startup VaultTel has introduced a hardware cryptocurrency wallet designed to fit in a mobile phone SIM card tray, a press release from the company reveals on March 6.

The solution reportedly combines a mobile application and a hardware chip, dubbed the VaultTel Card. The crypto storage solution will be sold in the U.S. starting today and will “immediately expand” to European countries via VaultTel’s United Kingdom subsidiary.

The wallet uses biometric authentication along with the military grade encryption standard, AES 512, the press release reports.

According to the firm, users can lock the VaultTel Card to a single device and to a particular geographical location.

To store funds, customers can either insert the VaultTel Card inside an unused SIM card tray — in the case of dual SIM capacity — or connect the chip to their phone via an accessory, such as a dongle. The corresponding mobile app will then let users interface with their stored funds.

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Source: https://cointelegraph.com/news/us-startup-introduces-crypto-hardware-wallet-chip-for-cell-phones