- Block’s self-custody Bitcoin wallet, Bitkey, will integrate Coinbase and CashApp, making it seamless for users to trade their assets.
- The company also plans to partner with Coinbase One to enable users to convert their assets to fiat later this year.
- Jack Dorsey’s Bitcoin investments, from mining to self-custody, have been hailed as a shining light to be emulated by other BTC executives.
The general public will be able to take part in the beta test of Bitkey in a few weeks according to Block, its parent company striking the excitement of users.
Jack Dorsey’s payment company Block has announced a special integration of CashApp and leading US digital asset exchange Coinbase on its self-custody wallet, Bitkey. This new feature will let users withdraw from their wallets in both Coinbase and CashApp directly from Bitkey.
The company noted that an open beta program will be available to the general public rather than former ones which were restricted to its staff. According to the announcement, users can test the hardware device alongside other software for free, a move that spiked its value by 4%.
“You’ll be asked to try out the product with your bitcoin, and share your feedback with us via interviews and surveys, which will help us shape the product. You’ll get to keep your free Bitkey hardware device to continue using with future versions of the app,” the announcement reads.
The hardware wallet would include both PIN code and biometric authentication for added safety. The company will also incorporate third-party exchanges to allow users to purchase Bitcoin through integrated apps. Bitkey explained that its recent partnerships are part of its effort to become empower 100 million users while driving up adoption.
“Back in March, we explained how partners can contribute to Bitkey’s mission to empower the next 100 million people to truly own and manage their money with Bitcoin,” the blog post states. “These partnerships represent a key step towards helping customers have more control and ownership over their financial lives with Bitcoin self-custody.” the company stated.
Jack Dorsey still has more to offer
Jack Dorsey has remained bullish on Bitcoin over other digital assets over the years with contributions in payment solutions, mining, and hardware wallets. Dorsey pledged $5 million to Bitcoin developers this month through his relief fund Start Small.
Last year, the tech CEO also made rounds with his huge investment in renewable energy Bitcoin mines amid criticisms on the impact of Proof-of-work assets on the environment. Dorsey also unveiled plans for a high-end mining kit as well as a nano BTC mining chip. This year will come with the Bitkey wallet alongside several innovations.
Coinbase announced that its partnership with Bitkey would include a “joint offer” with Coinbase which rolls out this year allowing users to convert their assets to fiat. Bitkey is expected to be launched later this year across many jurisdictions including the United States, UK, Brazil, Australia, etc.