Jack Dorsey’s Fintech Company Block Officially Launches New Self-Custody Bitcoin (BTC) Wallet

By The Daily Hodl December 09, 2023 In Bitcoin

The self-custody Bitcoin (BTC) wallet built by Jack Dorsey’s fintech firm is now available for pre-order to customers in over 95 countries.

In a statement, Block, formerly known as Square, says the global launch of their Bitkey wallet will make it easier for people to own and manage Bitcoin.

Block says it will be shipping out the crypto wallet, which includes a mobile app, a hardware device and a set of recovery tools, early next year.

Says Thomas Templeton, lead of Block’s Proto Team that developed Bitkey,

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“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 fintech company is releasing Bitkey and promoting self-custody after several centralized crypto firms left investors unable to withdraw their digital assets. Sam Bankman-Fried’s FTX alone is believed to have mishandled billions in customer funds.

Says Dorsey, following Bitkey’s official launch,

“Move your Bitcoin off the exchanges.”

In June, leading US-based crypto exchange Coinbase announced that it was looking to integrate Bitkey to foster the growth of self-custody usage. Dorsey, who plugged the partnership on social media, said that people should buy Bitcoin from an exchange and then move the asset to a hardware key that they control.

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