While announcing Coinbase and Cash App as the new partners, Bitkey referred to some information it passed in March.
Bitkey, a self-custody Bitcoin wallet app by Jack Dorsey’s Block, is partnering with Cash App and crypto exchange Coinbase (NASDAQ: COIN). The Bitcoin wallet application announced its first two global partners on June 15, noting that it aims to make self-custody more accessible. In addition to enabling customers to purchase, the alliance assures control over private keys.
Previously, former Twitter CEO Jack Dorsey conducted an in-house beta of the Bitcoin self-custody wallet, which was available to Block employees only. Now, Block is opening up access to the general public, commencing in the coming weeks. Block plans to roll out the full Bitkey product suite in the UK, US, Australia, Canada, etc, following the global public launch later this year, customers will have access to more functionalities. Examples include buying BTC and initiating transfers from Coinbase to Bitkey across six continents.
Bitkey Integrates with Coinbase and Cash App
Bitkey was strategic in choosing its global partners – Coinbase and Cash App. While the crypto exchange is the largest in the US by trading volume, Cash App is owned by Block and provides mobile payment services, as well as stocks and Bitcoin in a single application. The relationship among the three parties will allow Bitkey users to buy and sell BTC through Coinbase and Cash App directly from within the wallet app. The main criteria in choosing Coinbase and Cash App are security standards, price transparency, availability of fiat payments, and global reach.
Bitkey business lead Lindsay Grossman at the self-custody BTC wallet app said it was important to partner with global forces to reach more audiences worldwide. The executive added that liaising with Coinbase is an assurance that the self-custody service remains secure.
While announcing Coinbase and Cash App as the new partners, Bitkey referred to some information it passed in March. The Jack Dorsey-backed Bitcoin wallet talked about how strategic alliance can help in its mission to empower the new 100 million people on BTC self-custody.
“Partners play a key role in this journey and will help us widen the pie of self-custody adoption by making it easier and safer to move bitcoin from exchanges to Bitkey’s self-custody wallet where we can empower customers to truly own and manage their money on their own terms.”
Henceforth, Bitkey users will begin to see either or both Cash App and Coinbase in their app. They can also transfer their existing BTC with any of the partners on the same app. According to the press release, the feature enabling the transfer of existing Bitcoin and purchase with global fiat currencies will be available shortly.