Coinbase X Bitkey

Coinbase has announced a significant global partnership with Bitkey, the self-custody Bitcoin wallet developed by Block. This collaboration aims to integrate Coinbase Pay's functionalities, allowing users to transfer existing Bitcoin and engage in buying and selling activities powered by Coinbase directly within the Bitkey self-custody wallet. The Bitkey wallet comprises a mobile app, hardware device, and recovery tools, enabling customers to easily manage and possess their Bitcoin assets.

The partnership with Bitkey is a significant milestone in achieving Coinbase's objective of fueling the Bitcoin economy. Bitkey's primary mission is to empower the next 100 million individuals to truly own and manage their money through Bitcoin, eliminating the historical friction and anxiety associated with transitioning to self-custody and genuine ownership. This alliance aligns perfectly with Coinbase's vision.

Coinbase Pay offers a secure and user-friendly solution for funding accounts with cryptocurrencies within various applications, wallets, and marketplaces. By accepting users' preferred payment methods stored in their Coinbase accounts, this feature facilitates seamless fiat-to-crypto onramps, resulting in increased conversion rates and broader product adoption.

Furthermore, Bitkey is launching its global beta program, allowing participants to experience an innovative feature that effortlessly transfers Bitcoin from centralized exchanges to the secure Bitkey self-custody wallet. In the future, customers will also have the ability to purchase Bitcoin and seamlessly initiate transfers from their Coinbase accounts to the Bitkey wallet using Coinbase Pay, all within the Bitkey platform. The pricing structure will be transparent, enabling customers to easily understand the true cost of their Bitcoin transactions, including fiat payment method fees and the Bitcoin price relative to their local fiat currency. 

This integration and feature will be made available to joint Coinbase and Bitkey customers across multiple global markets on six continents, including the United States, Canada, the United Kingdom, Brazil, and Australia, among others. It represents another significant step for Coinbase in expanding its presence in international markets.

Coinbase and Bitkey share a deep commitment to making self-custody more accessible and empowering individuals to assume true ownership of their Bitcoin assets. Their dedication to delivering secure, user-friendly experiences, global outreach, and transparency serves as the foundation for this partnership.

What is Coinbase?

Coinbase is one of the oldest cryptocurrency exchanges in the world. The exchange was founded by Brian Armstrong and Fred Eshram back in 2012. While Armstrong remains at the helm of the exchange as the CEO, Eshram left the company in 2017 but still owns 6% of the equity and serves on the board of directors. Coinbase (COIN) became the first cryptocurrency firm and exchange to trade on Nasdaq starting on April 14, 2021. The stock has even briefly surpassed a market capitalization of $100 billion, although its market cap is just over $15 billion at the time of writing.

Find more about Coinbase here:

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