Coinbase is partnering with Block's Bitkey wallet to make self-custody of Bitcoin more accessible and user-friendly.
Block’s Bitkey Wallet Announces a Partnership with Cash App and Coinbase
Coinbase is partnering with Block's Bitkey wallet to make self-custody of Bitcoin more accessible and user-friendly. Bitkey, a self-custody Bitcoin wallet, is currently in its global beta phase and is set to have a wider public launch later this year. Beta testers of the Bitkey wallet have access to the mobile app and receive a hardware device with advanced security features such as a fingerprint sensor, PIN authentication, and mobile recovery.
With this partnership, Bitkey wallet holders will be able to purchase Bitcoin on Coinbase and easily transfer it to their non-custodial wallet. Additionally, existing Bitcoin holdings can be easily transferred. Bitkey's app will display the full transaction cost offered by different partners, allowing customers to choose the most suitable option before being redirected to the partner-hosted experience. The Bitkey wallet has also announced a partnership with Cash App, a product of Block (formerly Square), which integrates with the Bitkey app.
This collaboration between Coinbase and Bitkey represents an effort to bring self-custody and ownership of Bitcoin to a broader audience. By simplifying the process and ensuring security, the aim is to empower more individuals to manage their Bitcoin holdings with confidence. Jack Dorsey’s Block, the company behind Bitkey, has been actively involved in the cryptocurrency space and is also exploring innovations in Bitcoin mining hardware.
