Block, Jack Dorsey’s payments company, has announced the launch of an open beta program for its self-custodial Bitcoin wallet, Bitkey. The beta program, which was previously limited to Block employees, will now be available to the public, allowing users to test the hardware device and accompanying software free of charge. The beta version of the wallet includes features such as sending and receiving BTC, PIN code and fingerprint authentication options, and integrations with Coinbase and CashApp. Users will be able to safely withdraw Bitcoin from these platforms to the Bitkey wallet without the need for copy-pasting.
Coinbase, in partnership with Bitkey, has also revealed plans for a joint offer for their customers later this year. The collaboration aims to facilitate the conversion of Bitcoin into local fiat currencies through integration.
CashApp, which has supported Bitcoin transactions for years, will continue to provide options for buying Bitcoin and receiving payments in BTC or through the lightning network. However, Bitkey’s wallet will focus solely on transactions on the main blockchain and will not support other functionalities like multi-signature transactions.
Jack Dorsey’s companies remain committed to developing Bitcoin infrastructure, including mining tools and global on-ramps. In addition, Dorsey’s relief fund, Start Small, recently pledged $5 million to the Bitcoin non-profit organization Brink to support the network’s developers.
Dorsey’s strong support for Bitcoin is evident, as he considers it a valuable asset compared to other cryptocurrencies such as Ethereum, which he believes should be registered as a security.
