Bitkey Partners with MoonPay to Streamline Bitcoin Purchases

Block’s self-custody Bitcoin wallet, Bitkey, has announced a strategic partnership with cryptocurrency payment provider MoonPay, aiming to simplify Bitcoin purchases for users worldwide. This collaboration marks a significant step in making cryptocurrency more accessible to a broader audience.

Launched in March 2024 by Block, Inc. – the company behind Cash App and Square, led by Bitcoin advocate Jack Dorsey – Bitkey offers a unique “2-of-3” multi-signature design that eliminates the need for complex passwords and seed phrases. The wallet combines the convenience of an exchange with the security of self-custody, addressing key concerns in the cryptocurrency space.

Through this integration, Bitkey users can now purchase Bitcoin directly within the app using a variety of payment methods, including debit and credit cards, bank transfers, PayPal, Apple Pay, and Google Pay. MoonPay’s presence in over 180 countries allows for purchases up to $10,000, catering to both small and large-scale investors.

Keith Grossman, MoonPay’s President of Enterprise, highlighted the seamless nature of the integration: “The integration itself took only a few weeks, and we’re proud to power Bitkey users’ engagement with Bitcoin.” He emphasized that the entire purchase experience can now be completed within the Bitkey app, eliminating the need to switch between applications.

Thomas Templeton, Proto Lead at Block, Inc., expressed enthusiasm about the partnership: “As we continue to build a wallet that empowers the next 100 million people to truly own and manage their Bitcoin, we look to work with quality partners to help make self-custody easier than ever before.”

The collaboration extends beyond simple purchases. Plans are in place to integrate MoonPay Sell later this year, which will enable users to exchange cryptocurrency for fiat currency directly within the Bitkey ecosystem.

This partnership aligns with the growing interest in Bitcoin and cryptocurrencies globally. With U.S. spot Bitcoin ETFs amassing nearly $60 billion in assets under management since their January launch, and Bitcoin reaching peak values exceeding $73,000 this year, the timing of this integration is particularly relevant.