It has been revealed the fact that Jack Dorsey’s fintech company has just launched a new self-custody Bitcoin wallet. Check out the latest reports about the matter below.
Jack Dorsey’s Block marks massive announcement
Jack Dorsey’s fintech company, Block (formerly known as Square), has announced the pre-order release of its Bitkey wallet in over 95 countries.
The self-custody Bitcoin (BTC) wallet is designed to simplify the ownership and management of Bitcoin.
The wallet includes a mobile app, a hardware device, and a set of recovery tools, and will be shipped out early next year.
Says Thomas Templeton, lead of Block’s Proto Team that developed Bitkey,
“In the future, we believe customers will demand ownership and self-custody because it brings peace of mind, reduces dependence on any one entity, and puts individuals in control of their own Bitcoin. With Bitkey, we are building a safe and easy way for people all around the world with different levels of experiences with Bitcoin to take control of their finances on their terms.”
The release of Bitkey by the fintech company promotes self-custody following the inability of several centralized crypto firms to allow investors to withdraw their digital assets.
It is believed that Sam Bankman-Fried’s FTX alone mishandled billions in customer funds.
Says Dorsey, following Bitkey’s official launch,
“Move your Bitcoin off the exchanges.”
In June, Coinbase, a prominent crypto exchange based in the US, revealed its intention to incorporate Bitkey, a secure digital wallet, to encourage the use of self-custody.
Twitter CEO Jack Dorsey promoted the partnership on social media, stating that individuals should purchase Bitcoin from an exchange and transfer the asset to a hardware key that they control.
Stay tuned for more news from the crypto space, as things are getting juicier as they heat up ahead of the spot BTC ETF approval that people are waiting to see from the SEC.
