Jack Dorsey's Block Begins Shipping Bitkey Bitcoin Wallets
Block, the fintech company owned by Jack Dorsey, has begun shipping its self-custody bitcoin wallet, Bitkey, after four months of pre-orders. Bitkey was made available for pre-order in 95 countries last December and underwent beta testing in the summer. The wallet will link to Block's Cash App payment platform and the Coinbase crypto exchange, enabling users to buy and sell bitcoin within the app. Bitkey comprises a hardware device, a phone app, and recovery tools. The app and hardware device are two of the three keys used to secure a user's bitcoin, with the third stored on Bitkey's servers. If customers lose their phone and device, they can recover their funds using the "Trusted Contacts" tool. Block's shares rose over 6% to $86.74 amid a rally in the payments sector.
