Top US Crypto Exchange Coinbase Partners With Jack Dorseys Self-Custody Wallet Bitkey

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Leading US crypto exchange Coinbase plans to integrate Bitkey, a self-custody wallet developed by Jack Dorseys fintech company Block.

In a recent announcement, Coinbase said it has entered into a global partnership with Bitkey with the goal of driving growth in the use of self-custody.

Dorsey, the billionaire co-founder and former CEO of Twitter, took the new partnership live.

Buy Bitcoin from an exchange and transfer it to a hardware key that you control.

The news of the partnership follows Bitkeys’ announcement to open applications for its beta program which will allow users to try out the product before its public release.

Selected beta customers will receive a free Bitkey hardware device, the company’s mobile app, and a set of recovery tools.

The wallet project is also partnering with mobile payments giant Cash App, according to a recent press release. Customers will see Coinbase and Cash Apps buy and transfer Bitcoin (BTC) capabilities integrated into the Bitkey app.

Bitkey also plans to launch its full public version later this year, according to Coinbase.

Coinbases’ new partnership comes to fruition as the exchange faces regulatory uncertainty in the United States.

Last week, the U.S. Securities and Exchange Commission (SEC) sued the company, alleging it operated as an unregistered securities exchange, broker-dealer and clearing agency.

The SEC also accuses Coinbase of failing to register the offering and selling of its crypto asset staking program as a service.

The regulator is seeking civil penalties, as well as restitution of ill-gotten gains on trades with prejudgment interest imposed.

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