Block, the fintech startup founded by Jack Dorsey, is working with MoonPay to allow customers to buy Bitcoin using several different payment options, such as bank transfers, PayPal, Apple Pay, Google Pay, and debit and credit cards.
The announcement said this connection is exclusive to the recently released Bitkey hardware wallet from March. Bitkey aims to make Bitcoin transactions easier and more secure by doing away with the need for passwords or seed phrases with its “2-of-3” multi-signature setup and self-custody solution.
MoonPay’s President of Enterprise, Keith Grossman, expressed, “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.”
Grossman emphasized that Bitkey no longer requires customers to transfer to a different app because it now provides a smooth Bitcoin buying experience using MoonPay directly within its app. With over 180 countries where it is accepted, MoonPay allows for substantial purchases up to $10,000.
Thomas Templeton, lead at Proto, developers of BitKey, stated, “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,” clarifying Proto’s vision.
Block plans to integrate Bitkey with MoonPay’s crypto-to-fiat exchange by year-end, enabling users to convert Bitcoin to local currencies directly within the app. Bitkey boasts robust security features like PIN and fingerprint authentication, alongside support for the Lightning Network for fast and cost-effective transactions.
The well-known Square platform and Cash App, which have just integrated with Bitkey to enable smooth Bitcoin withdrawals, are part of Block’s larger ecosystem. This action demonstrates Block’s dedication to enhancing Bitcoin’s usability and accessibility while upholding strict security guidelines.
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