Bobby Lee, the founder of one of the first crypto exchanges in China, announced his brand-new crypto venture and re-established his entry in the virtual asset industry.
Lee, Founder and former CEO of BTCC exchange, returned to the crypto marketplace with Ballet, a start-up that would be building bitcoin wallets for the greater population.
Speaking at Coindesk’s Invest: Asia event in Singapore, Lee revealed that Ballet would function as a multi-cryptocurrency non-electronic hardware wallet, with an objective to make digital currency accessible for the masses. At press time, the wallet was in beta testing.
Lee emphasized that the key differentiator between Ballet and other crypto wallets would be that, Ballet would create private keys and public addresses for users, as the company will conduct a pre-setup for the wallets. He stated,
“I created Ballet to make cryptocurrency truly accessible to everyone, regardless of age or background. We wanted to create a wallet that is simple and elegant. And that is what we’ve done.”
Ballet is a metallic credit card, consisting of a QR code that would be linked to the wallet address generated by the company. The card also included a string of encryption codes under the QR code. In order to access the private key, users would need both the codes and create a combination on Ballet’s iOS or Android app. The private key would be able to access all the virtual assets present in the wallet.
Lee reported that Ballet currently supported Bitcoin, Litecoin, XRP and Ethereum and few-specific token such as ERC-20 tokens.
Speaking on the privacy aspect of the wallet, Lee added,
“Our users no longer need to worry about hackers, passwords, backups, or trusting a third party custodian to keep their assets safe. We are here to bring you peace of mind, by making cryptocurrency truly physical, and thus easy to keep secure.”