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"I cannot figure out why the Safe cold wallet, even though it is a web based application connecting to the internet, qualifies as a cold wallet. Bybit used a Safe wallet. Safe is an Orwellian term, like Liberty, Patriot, Truth. The wallet UI was hosted on a AWS S3 bucket a database in the Amazon cloud. All the postmortems point to the hacking of this UI with stolen Safe S3 credentials, leaked many months ago. Cold wallets are not for timely transactions as it takes a while for such multisig wallets to bridge between a disconnected wallet and the internet. Cold wallets can be as simple as a piece of paper with your private key or hardware cold wallets. Of course the bridging point is where it is most vulnerable. Maybe Safe was used because for people on the move like the Bybit CEO and his two co-signers, a wallet such as Safe is convenient. Calling it cold is a stretch."

Depending on what information is stored in the digital wallet, we have 3 types of digital wallets. -Pass-through wallets store tokenized card information and it doesn't hold any funds. When we initiate a payment transaction with a merchant, the token goes to the acquirer and then to the card scheme, just as credit cards do. The card scheme decrypts the card information and sends to the card issuer to verify. In this process, only the card scheme and the issuer know about the account details. Since the wallets don't know the account details, pass-through wallets are considered secure and an extension of credit and debit cards. -Staged wallets store encrypted payment details but don't send them anywhere. The transaction is broken down into two stages: the funding stage and the payment stage. At the funding stage, the money is transferred from various funding sources including bank account, debit/credit card, prepaid balance and other wallets. At the payment stage, the wallet transfers funds to the merchant. -Stored wallets hold prepaid balance from various sources including bank accounts, cards and peer-to-peer transfers. Then in a payment transaction, the funds are transferred to the merchant.

The International Organization for Standardization (ISO) announced that a security reference model for digital currency hardware wallets and requirements and recommendations regarding the security of digital currency hardware wallets has now advanced to the internal review phase. It includes security requirements for data management, communication, and access control requirements between different modules of the hardware wallets; security requirements for the running environment of the software operating in the hardware wallet; and security policies for service operation of the hardware wallet. The non-security aspects of digital currency hardware wallets, such as business processes and financial transactions are out of scope.

The wallet with the weakest know-your customer (KYC) strength is an anonymous wallet, which can be opened with only a mobile phone number. Such wallets, which can be opened with just a mobile phone numbers are completely anonymous to the PBOC and various operating agencies. However, this type of wallet will the lowest balance and daily transaction limit, which can only meet the daily needs of small payments. To make large payments , the wallet needs to be upgraded, and the wallet balance and payment limit will increase as the KYC intensity increases.

G+D Filia is intermittently offline. Payments are instantly settled offline, with occasional online reconciliation. But most importantly: funds received offline can be spent offline (consecutive offline payments). Our token format is the same online and offline, therefore the payment protocols are similar across different kinds of wallet (e.g., online wallets hosted at banks and hardware wallets). No conversion between online or offline ledger is needed. Tokens in hardware wallets are stored in tamper-resistant Secure Elements. Each wallet is equipped with a certificate, ensuring end-to-end encryption for every payment transaction. As an additional safety net, wallets keep a record of offline operations to detect counterfeiting.

The People's Bank of China (PBOC) revealed the holding and transaction limit structures being applied to the wallets currently being used in its eCNY central bank digital currency (CBDC) pilots. There are anonymous wallets that can be registered with only a mobile phone number, with maximum holding limits of 10,000 yuan, single transaction limits of 2,000 yuan, and daily cumulative payment limits of 5,000 yuan. And then there are less anonymous wallets with holding limits of 500,000 yuan, single transaction limits of 50,0000 yuan, and daily cumulative payment limits of 100,000 yuan, requiring that the users link the wallets to a bank account and meet full know-your-customer (KYC) requirements. Also users can open sub-wallets to limit payments, set up conditional payments, and control information sharing. https://finance.sina.com.cn/meeting/2021-06-11/doc-ikqciyzi9071612.shtml

Giesecke+Devrient (G+D) unveiled its Convego TruSafe self hosted cryptocurrency wallet solution, which it aims to distribute via banks. It combines a mobile wallet app with a smart card that looks like a debit card and acts as cold wallet storage. If someone loses the card, it's recoverable by splitting your private key into pieces or shards. One is held on the card, one by your bank and one by G+D. If the card is lost, a new one can be ordered and authenticated and activated through the mobile app, and access to the digital assets on the lost card regained. A wallet holder must use biometrics to request a new card, which recreates the key behind the scenes. https://www.gi-de.com/en/group/press/press-releases/from-complexity-to-simplicity-g-d-provides-seamless-and-secure-self-custody-of-digital-assets

Thunes published a comprehensive Complete Guide to Mobile Wallets 2025, the second edition of an extensive study that dives into the acceleration of mobile wallet adoption and the evolution of digital payments. It highlights one of the most dramatic shifts in the payments market: mobile wallets are quickly establishing themselves as the new standard. In Southeast Asia and Africa, the rapid adoption of mobile payments is enabling these regions to leapfrog traditional payment methods, moving directly from cash reliance to a fully digital ecosystem. Even in markets historically dominated by card transactions, mobile wallet adoption is rising sharply, signaling a global trend towards more agile, digital-first payment solutions.

Crunchfish's Digital Cash Wallet compliments any digital payment service on smart cards or in digital wallets with capabilities that replicates paying with cash. A two-step hierarchical architecture makes Digital Cash payments independent from the net, offering instant clearing offline at the moment of payment, followed by settlement online to move money between accounts. The Digital Cash Wallet has a mirrored virtual online account which is debited when either the payer or the receiver connects online. The virtual account may only be debited from the Digital Cash Wallet, protecting against overdrafts, and it also registers all activity in the Digital Cash Wallet. VISA has recently proposed this two-tier architecture for CBDC.

The Central Bank of Cuba has granted a licence to the country's telecommunications monopoly, Etecsa to operate a digital wallet service. The wallets will have a maximum balance of 5,000 Cuban pesos, and individual transactions will be limited to 1,500 pesos. Customers can only use the wallets to make payments at businesses that use Transfermovíl, to transfer money between wallets, or to transfer to bank accounts. The app will not facilitate cash withdrawals. Users can transfer money into the wallet from bank accounts or from their mobile telephone accounts.

El Salvador's citizens will not be forced to use the government-issued Chivo ("Cool") Bitcoin wallet when the country's Bitcoin (BTC) law takes effect on September 7. The Chivo wallet will not incur fees or commissions for transfers, and unlike traditional crypto exchanges, it will not take a cut for converting BTC to USD and vice versa, plus, unlike credit cards, there will be no commissions charged to merchants or users. Also, the $30 government BTC handout announced on June 25 would not be convertible into USD, to emphasize the government's intention to encourage the use of Bitcoin and the Chivo wallet. But any money held in USD or BTC in the Chivo wallet will be able to be withdrawn into USD cash at any time once the government has completed its roll-out of 200 new physical Bitcoin ATM branches.

On Tuesday, besides prohibiting anonymous crypto transactions, the EU's executive arm also added anonymous crypto asset wallets to its prohibition list, requiring the full application of AML/CFT rules to ensure complete traceability. This created some confusion as to what exactly the crypto wallets meant here, which the European Commission confirmed is not applicable to non-custodial privacy wallets rather only to exchanges. Indeed, open-source, non-custodial wallets, will not be covered by the prohibition.

Identity-bearing digital money can be paid in a private transaction between payor and payee without reliance on network authentication. The payee must trust that the paid digital coin is bona fide. Presenting a hard wallet (HW) to generate the required trust. Payment issued from the HW can be taken in by a second hard wallet, which will further pay to a third hard wallet, creating a payment ecology of digital money for long periods without the benefit of a communication network. Payment may be tethered to eventual terms of redemption. The hard wallet may be personalized -- fitted with ownership security capability. The HW may be engineered in conjunction with a smart phone, so people can use a single device as a phone and as an off-line wallet.

The Monetary Authority of Singapore opened up direct access to the banking system's retail payments infrastructure to eligible non-bank financial institutions (NFIs) from February 2021. NFIs that are licenced as major payment institutions under the Payment Services Act will be allowed to connect directly to Fast and Secure Transfers (FAST) and PayNow. This will enable users of NFI e-wallets to make real-time funds transfers between bank accounts and e-wallets as well as across different e-wallets. Currently, most e-wallets require the use of debit or credit cards to top-up funds, and funds transfers between e-wallets are not possible.

The Blockchain Association published a report for policymakers that explains the fundamental role of self-hosted wallets in the cryptocurrency ecosystem and why they are important to the future of free societies. The report is divided into two sections: The first section describes what self-hosted wallets are, their role in the digital asset ecosystem, and the current regulatory framework for managing digital asset transactions involving self-hosted wallets. The second section argues that imposing restrictions on individuals' ability to use self-hosted wallets would be misguided.

Robinhood is adding cryptocurrency wallets to its platform so that users can spend and trade their Bitcoin and Ethereum. The wallets will start as a test, and the company's setting up a waitlist where people can sign up to be among the first to get access. Testing with an alpha group will start in the next few weeks. The company will take the alpha users' feedback and address it on Twitter and its blog. People on the waitlist will start getting access to wallets by the end of 2021 and the wallets will be generally available in early 2022.

"Crunchfish Digital Cash AB ("Crunchfish") is announcing a patent-pending architecture of Digital Cash Wallets. In addition to Crunchfish's original Digital Cash Wallet offline, that is integrated in a mobile app, an architecture spanning from Core Banking Systems to Digital Cash Wallets either online or offline, in mobile apps or on non-mobile devices is presented. This provides the foundation of Crunchfish's ambition to take a global leadership position within digital payments. The Digital Cash Wallets online and in mobile apps are already ready for shipment."

"A crypto wallet is a piece of software or hardware that enables you to store, access and interact with cryptocurrencies like Bitcoin and Ethereum. While hardware wallets are a standalone physical device used to store digital assets, software wallets are installed on a user's device (desktop or mobile). Both hardware and software wallets store the private keys-strings of letters and numbers that act, in effect, like a highly sensitive password. "

Over $600 million in crypto left FTX's wallets late Friday (November 11, 2022) and many FTX wallet holders also reported that they were seeing $0 balances in their FTX.com and FTX US wallets. The bankrupt exchange's general counsel Ryne Miller said the exchange was "investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges - unclear facts as other movements not clear." Shortly after that, he said that the firm had initiated precautionary steps to move all digital assets to cold storage.

The Bank of England is proposing a limit of between £10,000 and £20,000 per individual as the appropriate balance between managing risks and supporting wide usability of the digital pound. The Technology Working Paper accompanying the Consultation Paper sets out an illustrative and complementary conceptual model consisting of a core ledger, API layer, analytics and alias service. The core ledger operated by the Bank might be centralised, running as a traditional database, or it might use Distributed Ledger Technology (whether a blockchain or another form of the technology). The Bank would provide the digital pound and the central infrastructure, including the 'core ledger'. Private sector firms - which could be banks or approved non-bank firms - would provide the interface between the Bank's central infrastructure and users by offering wallets and payment services. These private companies would be able to integrate the digital pound, as the settlement asset, into the services they would offer to wallet holders. The wallets would be operated on a 'pass-through' basis. That is to say, they would not constitute a claim on the wallet provider in the way that a bank account is a claim on a bank. Nor would they represent a custody arrangement. Rather, the wallets would hold all of the customer related information and 'pass-through' the customers instructions to the Bank's infrastructure. All of the digital pounds would be held on the Bank of England's central ledger.