Block Bitcoin wallet head: Plans to launch self-custody digital wallet this year

2023-01-07 11:11:22

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ChainCatcher news, Max Guise, the head of the Bitcoin wallet at Block, a payment company founded by Jack Dorsey, stated at CES 2023 that Block is developing a digital wallet that allows customers to hold their own Bitcoin instead of entrusting it to third-party platforms like FTX. This wallet will have three "keys" and is planned to be launched this year.

To transfer funds using the wallet, users can use their mobile phone and an app, or use their phone and hardware. Guise stated that without these two, Block cannot transfer funds for them. The third key is stored by Block in its "cloud recovery service" for users who lose their phone or wallet. Guise also hinted that Block is interested in collaborating with a "wide range of partners," including cryptocurrency exchange platforms like Coinbase and Cash App, as well as regional exchanges in Latin America and Africa. (source link)

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