- “We have decided to build a hardware wallet and service to make bitcoin custody more mainstream,” Dorogusker said
- Dorsey said the wallet would be “entirely in the open, from software to hardware design, and in collaboration with the community”
Square, a digital payments service company led by Twitter CEO Jack Dorsey, is going forward with building a hardware wallet for bitcoin after Dorsey hinted at the possibility in early June.
The decision was announced in a tweet by Jesse Dorogusker, the hardware lead and TIDAL lead at Square.
“We have decided to build a hardware wallet and service to make bitcoin custody more mainstream,” Dorogusker said.
Following Dorogusker’s tweet, Dorsey quoted his tweet and replied, “We’re doing it #Bitcoin.”
Neither of them provided specific details or a timeline for the product creation and Square was not available for immediate comment, but Dorogusker shared some details about the plan.
Dorogusker said there are still “a lot of questions and issues to reconcile” and the company will start with a production direction of bitcoin first, while supporting multisig to achieve “assisted-self-custody,” and prioritizing mobile use.
In general, bitcoin hardware wallets are physical devices plugged into a computer or phone that allow owners to securely store and access bitcoin through private keys.
When Dorsey tweeted that Square was considering making a hardware ballet for bitcoin, he said it would be “entirely in the open, from software to hardware design, and in collaboration with the community.”
He added that they wanted to build “an inclusive product that brings a non-custodial solution to the global market,” making bitcoin for everyone.