In an attempt to provide secure storage for crypto on smartphones, the security services provider VaultTel from Mexico has introduced a new mobile-based crypto cold wallet.

VaultTel’s solution utilizes a VaultTel app with a chip, called the VaultTel Card, in tandem. Users insert the VaultTel Card inside the SIM card tray of their smartphone or connect it via a dongle. Through the app, users can then easily access their stored crypto on their mobile cold wallet.

For enhanced security, VaultTel employs military-grade AES 512 encryption for its mobile cold wallet storage. Most other wallet platforms only use up to AES 256. Biometric authentication is compulsory, not just a passcode is used to unlock the wallet. Users can even lock the VaultTel Card to a single device and a specific geographical area.

“VaultTel’s multi-actor authentication security designed for cryptocurrency storage on mobile phones is the first of its kind and that really sets us apart,” its CEO Isaac Daniel said of the new product.

More blockchain-related mobile products have been making an appearance. Technology giant Samsung has added a built-in crypto wallet to its latest S10 mobile phone. Taiwan’s HTC also introduced a blockchain-powered mobile phone in 2018.

TheCryptoSight also reported at the beginning of this month that Electroneum had released a crypto-mining smartphone. Specifically targeted at developing countries, the phone carries a recommended price tag of only $80.