FailSafe Secures Over 169 Million Wallets in Strategic Partnership with The Binary Network

FailSafe has partnered with The Binary Network, a Web3 distribution layer protocol, to integrate the FailSafe Firewall. This partnership aims to enhance security measures for over 169 million wallets used by telco users across The Binary Network. The partnership aims to establish a secure and trusted environment for dApps, developers, and users with robust, omni-chain security for the rapidly expanding web3 ecosystem.

In a step towards enhancing security in the blockchain space, FailSafe and The Binary Holdings (TBH) have formed a strategic partnership to create a more secure web3 network for both developers and users. This collaboration will deploy FailSafe’s advanced, multi-layered cybersecurity solutions throughout The Binary Network, safeguarding over 169 million wallets and smart contracts, laying a strong foundation for broad web3 adoption.

Enhancing Security for Web3 Mass Adoption

As a distribution layer for web3, The Binary Holdings integrates dApps and entire ecosystems inside telecommunication applications – exposing web3 solutions to the massive user base that they desire. With over 169 million current users, TBH is committed to facilitating the adoption of web3 by providing secure and scalable infrastructure solutions. The integration of FailSafe’s security technology into The Binary Network is a vital step towards this goal, reinforcing the safety and integrity of transactions across the ecosystem.

FailSafe, renowned for its multi-layered security protocols, will deploy its Firewall transaction policy enforcement solution on The Binary Network. This collaboration is designed to mitigate risks such as unauthorized access, hacks, and malicious activities, providing robust security to the rapidly growing community of users and developers interacting within The Binary Ecosystem.

“Our partnership with FailSafe marks a significant advancement in our mission to offer a secure and seamless experience for all our users,” said Manit Parikh, Founder and CEO of TBH. “By integrating FailSafe’s security infrastructure, we are not only protecting our network but also building trust in the web3 space, driving greater adoption and engagement.”

Key Features of the FailSafe Firewall

The FailSafe Firewall solution will bring several critical features to The Binary Network, including:

• Whitelist and Blacklist Management: Administrators can maintain and manage lists of trusted and untrusted addresses, reducing the risk of fraud.
• Geolocation and IP Restrictions: Transactions from specific regions (and ultimately, devices) can be blocked to prevent unauthorized access.
• Lock Mode: User assets can be marked as ‘locked’ to prevent transfers in case of suspicious activity.
• Time-Based Restrictions: Transactions can be restricted to specific timeframes, adding an additional layer of control.
• Payment Controls: Daily and monthly spending limits, withdrawal thresholds, and per-asset policies will be available for network participants to define.

“With the FailSafe Firewall integrated across The Binary Network, we’re enabling best-in-class security for millions of users. Our partnership allows us to bring multi-layered protections across an entire network, reinforcing our mission to make Web3 as safe and secure as traditional finance. This collaboration underscores our commitment to innovation and shows that high security and broad accessibility can go hand in hand,” says Aneirin Flynn, CEO of FailSafe.

Driving Mass Adoption Through Enhanced Security

As The Binary Holdings continues to provide a distribution layer for web3, the security of its user base is paramount. By integrating FailSafe’s advanced security features, TBH is setting a new benchmark for safety in the web3 space, ensuring that both developers and users can engage with confidence.

With FailSafe’s technology in place, TBH will offer its partners — from telecommunications companies to dApps, chains and other enterprise clients, — a secure environment where their apps and projects can thrive. This collaboration reinforces TBH’s commitment to advancing the omni-chain protocol, ensuring that every dApp and blockchain project has access to the user base they need, backed by top-tier security.

About The Binary Holdings

The Binary Holdings (TBH) provides Web3 infrastructure solutions for telecommunication companies and banks in emerging economies. With over 169 million current users, TBH offers indispensable scalable, cost-effective, and efficient infrastructure services crucial for driving adoption of tokenized and Web3 solutions, facilitated by its native utility token, $BNRY, which powers all transactions and interactions within The Binary Holdings Ecosystem.

About FailSafe

FailSafe is the world’s first blockchain cybersecurity protocol offering comprehensive security and real-time threat response against exploits, hacks, and malicious on-chain activities. Trusted by leading blockchain companies and law enforcement authorities, FailSafe’s modular suite of tools, including Firewall, Radar, and Interceptor, provides robust protection for digital assets and smart contracts.