While announcing Coinbase and Cash App as its new partners, Bitkey referred to some information that was passed on in March.
Bitkey, Jack Dorsey’s Block self-custody Bitcoin wallet app, is partnering with Cash App and cryptocurrency exchange Coinbase (NASDAQ:COIN). Bitcoin wallet app announce her first two universal partners on June 15, noting that she aims to make self-incubation more accessible. In addition to enabling customers to purchase, the alliance ensures control over private keys.
Previously, former Twitter CEO Jack Dorsey ran an internal beta of a self-custodial Bitcoin wallet, which was only available to Block employees. Now, Block is opening access to the general public, and it will start in the coming weeks. Block plans to roll out the full suite of Bitkey products in the UK, US, Australia, Canada and more. After the global public launch later this year, customers will have access to more functionality. Examples include buying BTC and initiating transfers from Coinbase to Bitkey across six continents.
Bitkey integrates with the Coinbase and Cash app
Bitkey has been strategic in choosing its global partners – Coinbase and Cash App. While the cryptocurrency exchange is the largest in the US in terms of trading volume, the Cash App is owned by Block and provides mobile payment services, as well as stocks and Bitcoin in one app. The three-party relationship will allow Bitkey users to buy and sell BTC through the Coinbase app and Cash directly from within the wallet app. The main criteria in choosing Coinbase and the Cash App are security standards, price transparency, availability of fiat payments, and global reach.
It is important to partner with global powers to reach more audiences around the world, said Lindsay Grossman, Head of Bitkey Business, on the self-custodial BTC wallet app. The executive added that the connection with Coinbase is confirmation that the self-booking service remains secure.
While announcing Coinbase and Cash App as its new partners, Bitkey referred to some information that was passed on in March. The Jack Dorsey-backed Bitcoin Wallet talked about how the strategic alliance can help in its mission to enable 100 million new people to self-book their BTC.
“Partners are playing a key role in this journey and will help us expand the circle of self-custody adoption by facilitating the transfer of bitcoins from exchanges to the Bitkey self-custody wallet where we can enable customers to truly own and manage their funds on their own terms.”
Going forward, Bitkey users will start seeing Cash App, Coinbase, or both in their apps. They can also transfer their existing BTC with any of the partners on the same app. According to the press release, the feature allowing existing bitcoins to be transferred and purchased with global fiat currencies will be available soon.
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Ibukun is a crypto/financial writer interested in passing on relevant information, using uncomplicated words to reach all types of audiences. Apart from writing, she loves watching movies, cooking, and exploring restaurants in the city of Lagos where she is staying.