JAKARTA - Block Inc., a company led by Twitter founder Jack Dorsey, is preparing to launch his newest crypto wallet, Bitkey. This crypto wallet offers a safe way for users to store crypto assets on hardware that resemble USB thumb drives.
Bitkey is a physical crypto wallet, commonly called a cold wallet, because it is not connected to the internet and is claimed to be safer from hacking. Block revealed that Bitkey is able to facilitate secure token transfers between platforms by allowing users to connect with various crypto exchanges and payment services, including Block's Cash App.
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Block, a San Francisco-based company, aims to increase Bitcoin's accessibility, crypto wallets and BTC mining. In an effort to achieve this goal, Dorsey revealed that Block is working to develop Bitkey crypto wallets and Bitcoin mining systems since 2021.
Thomas Templeton, Head of Hardware Bitcoin Block, highlighted their continued collaboration with Cash App, emphasizing their efforts to achieve synergies beyond the original partnership.
This news follows an announcement in June by Coinbase on a global partnership with Block's Bitcoin wallet. This integration allows Coinbase Pay to facilitate existing Bitcoin transfers and conduct crypto transactions supported by Coinbase in the Bitkey wallet.
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