Bulletins

Jack Dorsey says Square may roll out its own bitcoin wallet

The product's software and hardware design would be developed in the open, the Square CEO said.

Jack Dorsey is delving deeper into cryptocurrencies.

Jack Dorsey is delving deeper into cryptocurrencies.

Photo: Amal KS/Hindustan Times via Getty Images

Square is thinking of rolling out a hardware wallet for bitcoin, CEO Jack Dorsey said in a tweet on Friday.

Dorsey said Square would develop the product "entirely in the open, from software to hardware design, and in collaboration with the community."

The financial services company has been moving aggressively into the crypto space. Square in December began allowing users of its Cash App product to get bitcoin rewards for debit card purchases. The company reported that 3 million customers used bitcoin in transactions last year, and saw a million new bitcoin buyers in January.

"Bitcoin is for everyone," Dorsey said. "It's important to us to build an inclusive product that brings a non-custodial solution to the global market. Much respect to everyone who has gotten us this far. What are the biggest blockers to get a non-custodial solution to the next 100M people?"

Benjamin Pimentel

Benjamin Pimentel ( @benpimentel) covers crypto and fintech from San Francisco. He has reported on many of the biggest tech stories over the past 20 years for the San Francisco Chronicle, Dow Jones MarketWatch and Business Insider, from the dot-com crash, the rise of cloud computing, social networking and AI to the impact of the Great Recession and the COVID crisis on Silicon Valley and beyond. He can be reached at bpimentel@protocol.com or via Google Voice at (925) 307-9342.

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