Square and Twitter CEO, Jack Dorsey today confirmed via Twitter that the Square plans to create a Bitcoin hardware wallet.
Square Product Development Head, Jesse Dorogusker first tweeted that the company “has decided to build a hardware wallet and service to make Bitcoin custody more widespread.”
Jesse Dorogusker said:
“We have decided to build a hardware wallet and service to make bitcoin custody more mainstream. We’ll continue to ask and answer questions in the open. This community’s response to our thread about this project has been awesome – encouraging, generous, collaborative, & inspiring.”
Dorsey retweeted him and added, “We’re doing it.”
Dorsey said last month that Square is considering building a bitcoin wallet, and today he confirms it.
— jack (@jack) July 8, 2021
Jesse Dorogusker said that they are hiring a team for creating BTC wallet:
“Contact us by email if you want to build mainstream self-custody with us, in partnership or on our team: hardwallet (at) squareup (dot) com. We’re hiring key roles in hardware, software, security, and business. Thank you for your ideas and challenging questions – keep ‘em coming.”
Hardware wallets are one of the safest ways to store crypto assets as they allow users to store their private keys and holdings on external offline devices. But new users complain that they are difficult to learn and use.
Hardware wllet provide security by allowing people to keep their private keys offline. Ledger and Trezor are two of the leading hardware wallet makers, so Square already has some serious competition.