SafePal (SFP)

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Historical price evolution of SafePal

Daily historical data. Updated automatically.

SafePal was founded in January 2018 in Singapore, co-founded by Veronica Wong, Harry Zhang and Leaner Zhang. Wong brought seven years of experience in Tencent's financial security department, where she served more than 300 financial institutions, in addition to her time at Huawei. Zhang joined as CPO responsible for product management and hardware production, whilst Leaner Zhang assumed the role of CTO focused on firmware, applications and backend. The founding team had more than 15 years of collective experience in consumer hardware, software and cybersecurity at companies such as Tencent, Samsung, Huawei and China Merchant Bank.

In September 2018, SafePal was selected as the only wallet brand in the first cohort of the Binance Labs Season 1 incubation programme, becoming the first and only hardware wallet project invested in by this incubator. The programme consisted of a 10-week process developed in San Francisco. Upon completion of the programme in December 2018, Binance formalised its investment in SafePal.

The SafePal S1 launch took place in May 2019, marking the debut of the company's first hardware wallet with a price of 39 USD, significantly more affordable than competitors such as Ledger and Trezor. The device operated completely offline without Bluetooth, WiFi or NFC, communicating solely via encrypted QR codes. It incorporated an EAL5+ security chip, a private key self-destruction mechanism against physical tampering attempts, and support for more than 10,000 tokens distributed across 20 different blockchains.

On 8th February 2021, Binance Launchpad executed the SFP token sale, constituting Binance Launchpad's first IEO in 2021. The initial price was 0.10 USD per token, with the participation of more than 47,000 users. That same day, the price reached an all-time high of 4.46 USD. The maximum supply was established at 500 million SFP tokens. During 2021, SafePal reached 5 million users.

In 2022, SafePal exceeded 5 million users in April. In June the browser extension was launched, transforming SafePal into a complete asset management suite. By October, the platform had reached 7.5 million users. In March 2023, SafePal exceeded 10 million users distributed across more than 200 regions. In July 2023, the SFP token was migrated from BEP-20 to ERC-20.

During 2024, SafePal launched SFPlus, a staking hub that allows SFP holders to verify their status as genuine holders, access airdrops from associated projects and improve their account level in integrated banking services. The platform exceeded 13 million users according to official sources, although some sources report 15 million, with 90% being new users compared to the previous year. For 2025, SafePal has established itself as one of the best-selling mid-range hardware wallets in the world, continuing the expansion of cryptocurrency-compatible banking services and Visa cards.

SafePal functions as a non-custodial crypto asset management suite that integrates three types of complementary wallets: hardware (S1, S1 Pro and X1 models), mobile software and browser extension (launched in June 2022). The core of the system is the S1 hardware wallet, designed to operate completely offline without Bluetooth, WiFi or NFC connections. Communication between the hardware device and the mobile application is carried out exclusively through encrypted QR codes, creating a data bridge that maintains isolation of the storage device. Private keys are stored in an EAL5+ certified security chip that incorporates a self-destruct mechanism: if it detects unauthorised access attempts, the system automatically erases the private key to prevent its compromise.

The native SFP token has a maximum supply of 500 million tokens and was migrated from BEP-20 to ERC-20 in July 2023. It operates as a governance and utility element within the ecosystem, allowing holders to participate in votes on new blockchain integrations, access fee discounts, receive airdrops from projects associated through the SFPlus hub and improve their account level in the ecosystem's integrated financial services. The platform maintains direct integration with Binance that allows spot trading operations to be executed from the wallet without needing to transfer funds to the exchange. It also supports cross-chain swaps and token bridges between networks. The mobile application supports more than 100 blockchains both EVM and non-EVM, maintaining in all cases non-custodial control of private keys by the user.

Data verified against external sources. Some values may have changed since the last update.