Square, an American financial services and digital payments company, will create its own hardware wallet and service to make bitcoin custody "more mainstream," said Jesse Dorogusker, the Hardware Lead at Square. The company will continue to seek feedback on its product from the cryptocurrency community.
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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. https://t.co/CHf9hAmKnn— Jesse Dorogusker (@JesseDorogusker) July 8, 2021
Square has already begun putting together a team to develop the wallet. It will be led by Max Giese, Hardware Security Lead at Square. Dorogusker adds Thomas Templeton, who, like Dorogusker, previously worked at Apple, will also work on the product.
The San Francisco-based company will focus on mobile wallet use and the concept of assisted-self-custody. Square also plans to simplify storage with the "auxiliary self-storage" feature.
Square's Chief Executive, Jack Dorsey, first revealed the company's plans on a cryptocurrency wallet in June this year. Dorsey said that the wallet will be open-sourced for both software and hardware design.
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