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Coinbase Partners with Block’s Bitkey Wallet to Expand Bitcoin Self-Custody Options

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In a bid to revolutionize the traditional financial system and provide greater economic freedom, Coinbase has announced a global partnership with Bitkey, the self-custody Bitcoin wallet developed by Block. 

Bitkey offers a comprehensive suite of tools, including a mobile app, hardware device, and recovery mechanisms, empowering users to own and manage their Bitcoin holdings. Bitkey’s mission revolves around eliminating friction and anxiety associated with transitioning to self-custody, enabling 100 million people to seamlessly manage their money with Bitcoin.

Coinbase and Bitkey are working together to create a single solution for Coinbase One and Bitkey clients, which will be unveiled later this year. This offer and product integration will be available to all Coinbase global clients who use Bitkey, confirming the companies’ shared commitment to providing a secure, user-friendly experience.

Furthermore, The partnership between Coinbase and Bitkey spans six continents, including the United States, Canada, the United Kingdom, Brazil, Australia, and others.

Coinbase Pay, one of Coinbase’s main products, allows users to load their accounts with cryptocurrency in a variety of apps, wallets, and marketplaces. Coinbase Pay streamlines the process of converting fiat currencies to cryptocurrencies, benefiting both users and businesses with increased conversion rates and product adoption.

Lindsey Grossman, Bitkey’s Business Lead, expressed her excitement about the partnership, noting that Bitkey’s goal is to develop a self-custody Bitcoin wallet that allows millions of people to genuinely own and manage their Bitcoin safely. Grossman also stressed partners’ critical role in making self-custody accessible to a wider audience, emphasizing the importance of working with major players like Coinbase.

Bitkey has begun accepting sign-ups for its global beta program, which was announced recently. Participants in the program will have access to a unique feature that allows them to easily transfer Bitcoin from centralized exchanges to the secure Bitkey self-custody wallet. When Bitkey becomes public later this year, clients will be able to acquire Bitcoin and transfer it from Coinbase to their self-custody Bitkey wallet via Coinbase Pay, all within the Bitkey app.

In line with this mission, Coinbase aims to onboard over 1 billion people into the crypto ecosystem while fostering collaborations with innovative builders. Coinbase’s partnership with Bitkey represents another milestone in Coinbase’s mission to transform the global financial landscape through the power of cryptocurrencies.

Read Also: Uniswap Unveils Vision for its v4

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