Blockchain
Jack Dorsey’s Bitcoin Wallet Bitkey Partners With MoonPay
Bitkey and MoonPay collaborate to simplify Bitcoin purchases via traditional web2 channels.
Jack Dorsey’s fintech startup Block and payment service provider MoonPay have joined forces to enable easier use of Bitcoin (BTC) purchases through traditional methods such as bank cards, Google Pay, PayPal and others.
Both entities on Tuesday announced that Block’s hardware BTC wallet, Bitkey, will integrate MoonPay’s infrastructure to unlock this functionality for financial participants. MoonPay’s existing KYC registered user base with payment methods on file will facilitate smoother fiat-to-crypto onramps. Later this year, Bitkey plans to launch “MoonPay sell,” enabling cryptocurrency-to-fiat conversions.
“These partnerships are not just about expanding Bitkey’s capabilities; they represent a commitment to growing self-custody and the broader Bitcoin ecosystem,” the companies said in the press release.
The digital asset sector boasts a $2.4 trillion market based on blockchain cryptography and virtual assets. While adoption is growing and has yet to fully proliferate global economies, corridors that support the exchange of value between cryptocurrencies and fiat vehicles remain crucial to the nascent market.
Bitcoin Storage Ecosystem Expands
KeyReleased in March, it serves as a storage option for BTC holders and competes with other market players such as Ledger and Trezor. Bitkey’s parent company, Block, also owns the point-of-sale platform Square and P2P provider CashApp.
The partnership between Bitkey and Payment via MoonPay comes as BTC increasingly captures attention in the US and on the global financial scene.
USA Point Bitcoin ETFs alone boasts nearly $60 billion in assets under management despite launching in January. BTC itself has also peaked this year at over $73,000, and experts believe the token has plenty of room to grow before the next bear cycle.