Square Building Hardware cryptographic wallet, service for “mainstream” Bitcoin

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Square plans to build a cryptocurrency hardware wallet and software service, company executives said Thursday. Square’s goal is to “make bitcoin custody more common,” said Jesse Dorogusker, head of hardware. CEO Jack Dorsey described the company’s initial thinking on the product in June. Loading Something is loading.

Square executives confirmed Thursday that the company plans to develop new tools for bitcoin.

“We have decided to create a hardware wallet and a service to make bitcoin custody more common. We will continue to ask and answer questions openly,” Jesse Dorogusker, Square’s hardware manager, said on Twitter.

“With that, @jessedorogusker, me and the team will listen and continue the conversation. And we’ll create a dedicated Twitter and github account if we decide to create. We’ll update this thread with this information when we’re ready. Thank you!” Square and Twitter CEO Jack Dorsey responded in response.

In June, Dorsey announced in a lengthy Twitter thread that his fintech company was “considering” an open-source hardware wallet, describing how the company plans to develop the product and asking for input from the crypto developer community. change.

Dorogusker said on Thursday those responses had “resonated” and convinced the company to initially create a multi-signature, mobile-friendly and globally distributed wallet, confirming the product focused on security and inclusiveness described by Dorsey in June. .

Square is forming a “small cross-functional team,” led by Max Guise, to oversee product development, and plans to hire for positions in “hardware, software, security and business,” Dorogusker said.

Bitcoin has long been an exciting project for Dorsey, who recently said at the Bitcoin 2021 conference in June that he would leave Square and Twitter to work on Bitcoin projects if they “needed more help” than both. companies he currently manages.

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