Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Business » Square Will Launch Bitcoin Hardware Wallet: Jack Dorsey

Square Will Launch Bitcoin Hardware Wallet: Jack Dorsey

by

The company wants to make Bitcoin custody more mainstream. 

Square Will Launch Bitcoin Hardware Wallet: Jack Dorsey
Shutterstock cover by Frederic Legrand - COMEO

Share this article

Digital payments company Square will build a Bitcoin hardware wallet, the company’s team has confirmed. 

Square Pushes Bitcoin Custody 

Square wants to bring Bitcoin custody to a broader audience. 

Jesse Dorogusker announced that the company would build a non-custodial hardware wallet in a Twitter exchange with CEO Jack Dorsey Thursday.  

The move was not unexpected; Dorsey said Square was considering making a hardware wallet in a 12-tweet thread last month. 

While concrete details about the new wallets are currently unknown, Dorsey and Dorogusker did outline a general plan for the project. The wallets will be optimized for mobile use, and they’ll also be non-custodial—meaning users will have complete control over their wallet keys and crypto. Users who currently store Bitcoin via Square’s Cash App do not have custody over their coins. The pair also emphasized a “Bitcoin first” approach and community engagement with the project through Twitter and GitHub. 

Square started allowing customers to buy and sell Bitcoin through its Cash App in 2018 after Dorsey became a vocal advocate for the technology. By January of this year, over one million users had bought Bitcoin through the app. The company has also purchased over $220 million of Bitcoin and helped fund companies engaged in green Bitcoin mining.

Dorsey’s better-known company, Twitter, has also recently engaged with cryptocurrencies. The social media platform distributed a set of 140 NFTs to lucky users at the end of June. The Twitter NFTs immediately became hot property, with one selling for $110,000 hours after release. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.