Formosa Financial and CoolBitX Partnership Announcement

TAIPEI, Taiwan, Dec. 13, 2018 /PRNewswire/ -- Formosa Financial, the one-stop treasury management platform for crypto-assets, is proud to partner with CoolBitX, the maker of revolutionary mobile cold-storage hardware devices. The alliance between the two Taipei-based Fintech companies is a huge step forward for better crypto-asset management.

CoolBitX is the creator of the world's first truly mobile hardware wallet, the CoolWallet S. Also known as the world's thinnest cold-storage solution, the CoolWallet S sheds the traditional USB and computer connection to send signed transactions to the network. Instead, utilizing a military-grade encrypted Bluetooth connection to its native iOS or Android mobile apps. The security, convenience and durability (flexible, waterproof) of the CoolWallet S helped CoolBitX garner $13 million USD in funding from the renowned financial institution VC firm SBI Holdings earlier this year.

"The first time I met Michael, I sensed that we had an immediate alignment of visions. The technology he and the CoolBitX team have developed has the potential to do so much more than simply hold crypto-assets. New use cases around personal identity management, data access authorization and more are just around the corner. We are excited to work with their team as we push the boundaries of the Taiwan Fintech ecosystem internationally," said Ryan Terribilini, CEO of Formosa Financial.

The first step of the partnership has already been consummated, as CoolBitX recently announced official support for the FMF token on their CoolBitX crypto app. Whereas other ERC-20 tokens require direct input of corresponding token contract addresses, adding FMF to the shortlist of officially supported tokens and coins will provide FMF holders and clients of the Formosa platform with unmatched convenience when sending and staking their tokens.

In addition to the exciting news to individual token holders and Formosa Financial*CoolBitX supporters, the partnership between Fintech firms will also bring huge value to the custodial service offering on the Formosa Financial platform.

The custom-designed, co-branded CoolWallet S will enable Formosa Financial clients such as Mithril or AQWIRE to self-custody their crypto-assets via a secure and untethered credit card-sized hardware wallet. When coupled with the regulated, institutional-grade custodial solutions of partner BitGo, the Formosa Financial platform will be able to provide clients with a unique custodial offering that combines two industry-leading solutions for secure storage in addition to prime brokerage and hedging services via a one-stop interface for all.

For CoolBitX, the growing list of clients for the Formosa Financial platform provides a sales channel to new kinds of customers utilizing crypto-assets for innovative new use cases.

"Formosa Financial is working hard to build a platform of services the market really needs. With their one-stop financial service, crypto company operations can run more smoothly, making the entire industry more efficient. I also enjoy working with their team as they are committed to a great vision for where crypto-asset management can go," said Michael Ou, CEO of CoolBitX.

About Formosa Financial

Formosa Financial helps crypto-assets holders and blockchain innovators solve some of their major pain points by offering a one-stop platform for their financial services needs. From a single point of entry, clients have access to a customizable suite of treasury management tools, minimizing friction, costs and time delays around mission-critical financial tasks. Learn more about Formosa Financial here: https://www.formosa.financial/.

About CoolBitX

CoolBitX, founded in 2014 by Michael Ou, is a FinTech and blockchain security company specializing in manufacturing secure, U.S.-patented digital asset hardware and developing smart contract platforms for millions of users. Backed by $13 million in funding from investors like SBI Holdings and Bitmain, CoolBitX believes the faster decentralized blockchain technology achieves mass adoption and allows people to stop relying on unsecured centralized institutions, the better. Learn more about CoolBitX here: https://coolbitx.com/.

To learn more, visit https://www.formosa.financial or join them on Telegram.

Contact:

Formosa Financial
Olivia Kuo +886 02-6638-6290 / [email protected]

SOURCE Formosa Financial

Related Links

https://www.formosa.financial