Block, Parent Company of CashApp, Details Global Self Custody Wallet Plans: Mobile App + Hardware Wallet + Local Fiat Partners
"This is not a journey we plan to take alone: we want to work with partners to bridge the gap between fiat and bitcoin financial systems, providing customers with the access and information they need to buy, sell and store bitcoin."
Their plan involves a user friendly mobile app and inexpensive hardware wallet, both developed and distributed by Block.
We’re building a self-custody bitcoin wallet designed to empower the next 100 million people to truly own and manage their money with bitcoin. Part of that mission relies on connecting people between two worlds: the world of today’s domestic or regional centralized monetary systems (fiat currencies like the Euro, Nigerian Naira or Indian Rupee) and bitcoin’s distributed, borderless financial system.
While we focused on our strengths (secure and easy-to-use mobile and hardware experiences distributed globally), we are looking to partner with safe and transparent companies that help customers buy and sell bitcoin around the world. We plan to partner with responsible, product-driven companies that have done the hard work to deepen their local fiat payment method reach and localize their onboarding experiences.
Together, we can create a seamless product experience that helps customers find the right on/off ramp service that fits their needs. And through that integrated partner experience, we’ll work with these partners to ensure customers can safely withdraw their bitcoin from those custodial platforms immediately after purchasing the bitcoin - ensuring customers benefit from what exchanges do best (converting fiat currencies to/from bitcoin) while ensuring that customers truly own their bitcoin in the self-custody wallet we offer.