• Block has launched a self-custody Bitcoin wallet to empower the next 100 million people to own and manage their Bitcoin.
• The wallet will be built with global and local partnerships, providing customers with seamless buy and sell experiences across fiat and Bitcoin financial systems.
• Block is looking for feedback on criteria adjustments and potential partners for distribution, payments, retail and more.
Block Launches Self-Custody Wallet
Jack Dorsey’s Block has updated the Bitcoin community on the development of its self-custody Bitcoin wallet, aiming to empower the next 100 million people to truly own and manage their money with bitcoin. First introduced in 2022, this product seeks to make self-custody more accessible than ever before.
Global & Local Partnerships
Partners will seemingly be a major part of building the self-custody wallet. Through global and local partnerships with exchanges and on/off ramp partners, we provide customers with ways to access a smooth, transparent buy and sell experience, ultimately helping them navigate between fiat and bitcoin financial systems, wherever they are in the world. To ensure customer experience is up to standards, criteria such as regional reach & depth, product experience, price transparency, customer onboarding etc have been set by Block.
Retail & Distribution Partners
In order to reach customers globally, Block will build partnerships with companies who already have an established distribution network (as well as merchant services) in order to help customers pay for the wallet using relevant local payment methods. This may include point of sale partnerships as well as payroll partnerships among many other types of partnerships.
The blog post concludes with a call for feedback from users; specifically asking for thoughts on if there are any criteria that should be adjusted or if there are specific companies that Block should consider partnering with in terms of distribution payments etc.
Overall this product seeks to bring bitcoin closer into everyday life by making it easier for everyone around the world to own their money through blockchain technology; enabling accessibly secure transactions all over the world!