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Jack Dorsey's Block Begins Shipping Bitkey Bitcoin Wallets
Block unveiled Bitkey for pre-order in 95 countries last December having commenced beta testing during the summer
Jack Dorsey's fintech company Block (SQ) has started shipping its new self-custody bitcoin wallet Bitkey after four months of taking pre-orders.
Block unveiled Bitkey for pre-order in 95 countries last December, having commenced beta testing during the summer. In addition to its wallet function, Bitkey will connect to Block's payments platform Cash App and crypto exchange Coinbase (COIN) to allow buying and selling BTC within its app.
STORY CONTINUES BELOW
Bitkey consists of a hardware device, a phone app and a set of recovery tools.
The app and hardware device are two of the three keys used to secure a user's bitcoin, with the third stored on Bitkey's servers. Should customers lose their both their phone and the device, they can recover their funds using the "Trusted Contacts" tool, which relies on people known to the user to verify their recovery request.
SQ shares were up over 6% at $86.74 at the time of writing on Wednesday alongside a rally in the payments space.
Read More: Jack Dorsey's Block Inc. Begins Layoffs Under Previously Disclosed Plan to Cut Staff by 10%
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
