Swan Vault is powered by Blockstream Jade, an open-source Bitcoin hardware wallet.
"Integrating Blockstream Jade's multi-signature and hardware-based authentication into Swan Vault elevates the standards of Bitcoin collaborative custody," said Swan Bitcoin CEO Cory Klippsten.
"The service from Swan will ensure customers remain in full control of their bitcoin, while offering them more robust custody features like reliable key backup options, collaborative vault systems, and multi-party spending permissions," Blockstream said in a blog post.
"In bringing our technical expertise into the mix with Swan’s user-centric approach, we are advancing the practice of collaborative custody in the Bitcoin ecosystem. It's aimed at driving adoption and making collaborative custody a normalized practice in the Bitcoin industry," said Adam Back, CEO at Blockstream."
Swan also announced that the initiative will be led by Vijay Boyapati, author of The Bullish Case for Bitcoin.
"A warm welcome to our new Senior Engineer Vijay Boyapati who will be working on our ALL NEW product in partnership with @Blockstream, Swan Vault."