Innovative Partnership Enhances Bitkey’s Bitcoin Purchase Options

Jack Dorsey’s fintech enterprise, Block, is collaborating with MoonPay to facilitate seamless bitcoin purchases through its new hardware wallet, Bitkey. This integration, announced on Tuesday, enables users to acquire bitcoin using various payment methods such as debit and credit cards, bank transfers, Apple Pay, Google Pay, and PayPal.

Launched in March, Bitkey is Block’s latest hardware wallet, complementing the company’s other financial solutions, including the renowned retail point-of-sale system Square and the peer-to-peer payments app CashApp.

Keith Grossman, President of Enterprise at MoonPay, expressed enthusiasm about the partnership: “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 highlighted that while Bitkey previously offered bitcoin purchasing options, the integration with MoonPay now allows the entire transaction to be completed within the Bitkey app, eliminating the need to switch to a different application. MoonPay, operating in over 180 countries, also enables large transactions up to $10,000.

“With MoonPay, these users are already registered and KYC’d, with their payment methods securely stored,” Grossman added.

Advancing Self-Custody Solutions

Thomas Templeton, lead at Proto, the primary developer of Bitkey, emphasized the partnership’s role in advancing self-custody for bitcoin users: “As we continue to build a wallet that empowers the next 100 million people to truly own and manage their bitcoin, we look to work with quality partners to help make self-custody easier than ever before.”

Future plans include integrating MoonPay Sell into Bitkey, allowing for crypto-to-fiat exchanges. Grossman noted that this feature is “currently live with numerous partners” and expected to launch with Bitkey later this year.

Innovative Features and Competitive Edge

Bitkey distinguishes itself as a self-custody wallet rivaling firms like Ledger and Trezor. It employs a “2-of-3” multi-signature setup, eliminating the need for traditional passwords, seed phrases, and recovery tools.

In addition to the MoonPay partnership, Bitkey has teamed up with Coinbase Pay and recently announced the utilization of new 3-nanometer ASIC mining chips developed in-house by Block, signaling continuous innovation and enhancement of its offerings.