Square, the digital payments company founded by Twitter chief executive Jack Dorsey, is building a hardware wallet for bitcoin.
The announcement was made on Twitter: “We have decided to build a hardware wallet and service to make bitcoin custody more mainstream”, Jesse Dorogusker, the head of hardware at Square, tweeted.
“We have a lot of questions and issues to reconcile and we’ll start with this product direction: bitcoin first, global distribution, multisig to achieve ‘assisted-self-custody,’ and prioritizing mobile use.”
Mr Dorsey quote-tweeted the thread, adding “We’re doing it #Bitcoin”.
Bitcoin wallets are used to store cryptocurrency with a private key for greater security, and are the most secure way of holding the digital money as they have to be physically plugged into a computer or phone to access.
In a thread from June, Mr Dorsey set out some of the specifications of the wallet: it would be focused on smartphone users, because “most people access the internet on mobile” and would “make it easy for customers to keep the funds they want quick…
