Former CEO and Cofounder of BTCC, Bobby Lee has announced his new pet project called Wallet for Everyone – ‘Ballet.’
In an event of Singapore, he introduced ‘Ballet’, which is a crypto hardware wallet on similar lines of debit cards. The wallet is supported by multiple native cryptocurrencies.
Bobby Lee – The co-founder and Ex. CEO of BTCC
Bobby Leeis a well-known name in the crypto industry of China. He is the co-founder and former CEO of one of the oldest crypto exchange BTCCin China. In January 2018, as a CEO, he raised billions for BTCC with the backing of American venture capital firm LightSpeed.
In 2018, he sold BTCC to an anonymous investment entity in Hong Kong after China imposed a ban on initial coin offerings (ICOs) and fiat-to-crypto trading.
‘Ballet’ is a crypto wallet designed for the common users and crypto enthusiasts. This project has been supported by Ribbit Capital, a VC firm with previous investment in Crypto exchange Coinbase.
The headquarters of Ballet is based in Las Vegas and has been operational with 20 employees across the globe.
How does Ballet works?
The ‘Ballet’ is a user-friendly crypto wallet designed on similar lines of a credit card. It bears a preprinted public address and personal key for utmost security and easy operations.
The address in QR code will be printed on the card and below that the private key will be printed and hidden in the coated form.
The combination of both the keys will make the wallet functional via iOS or Android app. The transaction data will automatically and instantly be erased from distant locations after every use.
Lee is hopeful that the user-friendly and easy-to-operate functions will attract the new crypto users, who prefer minimum hassle-free setup, unlike other hardware wallets.
“We wanted to create a wallet that is simple and elegant. And that is what we have done,” Lee said during the presentation of this launch event.
Currently, the wallet supports Bitcoin, XRP, Ethereum, Litecoin networks along with all ERC-20 tokens issued on particular blockchains.
Other specifications of the Ballet
The ballet is designed for wider usage of common masses and is available at low cost at $29 on preorder.
The company intends to deliver the preorders as early as in October.