Block, the fintech company founded by Jack Dorsey, has partnered with MoonPay to simplify Bitcoin purchases through the Bitkey hardware wallet. This collaboration aims to make buying Bitcoin easier and more accessible by integrating various payment methods, including bank transfers, PayPal, Apple Pay, Google Pay, and credit and debit cards. MoonPay, accepted in over 180 countries, allows substantial Bitcoin purchases of up to $10,000.
Bitkey’s Unique Features
Launched in March, Bitkey offers a secure, user-friendly experience with its “2-of-3” multi-signature setup. This design eliminates the need for passwords or seed phrases, enhancing the security and ease of Bitcoin transactions.
Partnership Details
Keith Grossman, MoonPay’s President of Enterprise, highlighted the partnership’s timely nature as Bitkey expands its market presence. He praised the quick integration process, which took only a few weeks, emphasizing MoonPay’s role in providing a seamless Bitcoin buying experience directly within the Bitkey app. Grossman stated, “We’re starting our collaboration at an exciting moment as Bitkey expands its go-to-market presence. The integration itself took only a few weeks, and we’re proud to power Bitkey users’ engagement with Bitcoin.”
With MoonPay embedded in the app, Bitkey users no longer need to switch platforms to purchase Bitcoin, streamlining the process significantly.
Future Developments
Thomas Templeton, head of Proto, the developers of Bitkey, explained Proto’s vision to empower the next 100 million users to own and manage their Bitcoin. He emphasized the importance of partnerships in simplifying self-custody, stating, “As we build a wallet empowering the next 100 million to truly own and manage their bitcoin, we seek quality partners to simplify self-custody.”
By the end of the year, Block plans to integrate Bitkey with MoonPay’s crypto-to-fiat exchange. This integration will allow users to convert Bitcoin to local currencies directly within the app. Bitkey also supports robust security features like PIN and fingerprint authentication and utilizes the Lightning Network for fast and cost-effective transactions.
Bitkey’s integration into Block’s ecosystem, including platforms like Square and Cash App, further demonstrates Block’s commitment to enhancing Bitcoin’s usability and accessibility. These integrations enable smooth Bitcoin withdrawals, showcasing Block’s dedication to maintaining high security standards while making Bitcoin transactions more user-friendly.
