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TronWallet’s 4th Generation Klever App Launches w/ Multiple Announcements

Last updated: | 2 min read

Klever App, the “bigger house” for TronWallet and a major component in the Klever ecosystem, has officially launched, thus expanding the platform of the former TronWallet, and announcing new partnerships, expansions, pre-paid credit cards, and digital bank accounts, among other things.

Source: Adobe/M-SUR

“The 4th generation crypto wallet Klever is now available for download on iOS & Android,” said the team in an emailed press release. The app is built using Klever OS technology which itself was “built entirely in-house.”

TronWallet had announced its move, name change, and additional features through its official blog in July, stating the need to “expand into the wider crypto sphere.” At the time, it listed four main components coming to the Klever ecosystem: Klever OS, Klever App, Klever Exchange, and Klever Labs.

Through the more advanced Klever platform, the wallet service provider said it hoped to attract more users from other blockchain and crypto projects to join its platform.

Among other upgrades, the Klever app has enabled the staking of its Klever (KLV) Tokens at the rate of 16%. In fulfilling its expansion agenda, the Klever noted that it will be adding more tokens to the staking service moving forward. The team aims to do this by forming partnerships with credit and lending firms. The staking feature will increase the current circulating supply of each underlying token by using an “inflationary smart contract,” the firm noted.

The Klever app supports “thousands of TRC10, TRC20, and ERC20 tokens in its wallet”, as well as bitcoin (BTC), tron (TRX), and ethereum (ETH) blockchains with plans to add more chains following this launch.

“An innovative new feature of Klever is that it allows the user to save BTC, ETH, and TRX contacts and addresses directly in the cloud,” they said.

Other major features of the Klever app include a multi-coin swap provision, an embedded Klever Browser, high-risk warning pop-ups for suspicious sites through the Klever browser, and a Klever Bank.

The announcement stressed that the app comes with a “new in-app Staking feature,” adding that, besides the KLV and TRX staking, support for additional coins and tokens will be deployed “soon.” It claimed that “over the past 24 hours, the Klever Swap engine processed over 8,000 individual swaps from our users, handling a trading volume exceeding USD 1.2 million.”

As for the Klever Bank, the announcement describes it as “a local bank” meant to enable people who “don’t know anything about crypto to participate in this new economy in a safer and simpler way.”

Towards this end, Klever claims to have found “a reliable and reputable partner in a new bank in Brazil to validate the model and services provided,” and has partnered “with a pioneering bank that will support our operations to offer pre-paid credit cards and digital bank accounts.”

They added that the goal is to “move quickly to expand the products and services of Klever Bank to more countries beyond the borders of Brazil in the coming months.”

The same announcement added that the team hosted an In-App Offering (IAO) of the KLV token between August 20–24, raising USD 1.54 million via a peer-to-peer (P2P) community crowdfunding. The mentioned Klever Exchange, “which will support over 1 million transactions per second,” is one of the products that will be built with the money raised.

Klever Labs “will build, develop, and deploy its first project Klever Browser in 2020–21, followed by Klever Blockchain in 2021,” the team concluded.

Meanwhile, per CoinGecko, at the time of writing (14:40 UTC), KLV appreciated nearly 143% in the last day.