Block Still on the Hunt for Wallet Partners After Two Years
• Block (known as Square at the time) is seeking partners to help build a self-custodial Bitcoin wallet two years after announcing plans to do so.
• The company is focusing on quality-over-quantity with its partners, prioritizing technical, product and UI expertise along with price transparency, payment method coverage and onboarding/withdrawal processes.
• Block also hopes to increase Bitcoin’s use cases and relevance as a payment method with other types of partnerships such as retail, distribution and payment.
Block Searching for Wallet Partners
Nearly two years after Jack Dorsey’s technology conglomerate Block announced plans to build a self-custodial Bitcoin wallet, the company revealed that it is still in search of partners “to make this a reality.”
To move assets between fiat and Bitcoin financial systems and provide users with the access and information they need to buy, sell and store Bitcoin securely an easily, Block is seeking collaborations with companies that have experience in local fiat payment processing. In addition to technical, product and UI expertise, potential collaborators must demonstrate price transparency, depth in local payment method coverage, competency in onboarding and withdrawal processes.
Block is also planning to build additional partnerships such as retail distribution partnerships and payment partnerships which are hoped will increase Bitcoin’s use cases as a payment method.
Quality Over Quantity
Block has said it will focus on quality over quantity when selecting its on-and off-ramp partners. This means that each partner must meet certain standards set by the firm in order for them to be considered for collaboration.
Overall Block’s goal is ensure that its wallet meets users needs when storing cryptocurrencies while providing high quality services from reliable partners who understand their respective markets; increasing Bitcoin’s use case overall within the industry.