Bitkey, a Bitcoin self-custody wallet, has partnered with NASDAQ-listed cryptocurrency exchange Coinbase. This collaboration allows Bitkey users to transfer Bitcoin and buy/sell using Coinbase Pay.
Coinbase, a well-known cryptocurrency exchange with a NASDAQ listing, has announced a new partnership with Bitkey, a Bitcoin self-custody wallet.
As a result of the new cooperation, Coinbase Pay will be integrated into Bitkey’s self-custody wallet, allowing users to transfer their existing Bitcoin and purchase/sell Bitcoin powered by Coinbase.
Bitkey, a product of Block, enables users to effortlessly own and manage their BTC. It consists of a mobile application, hardware device, and a collection of recovery tools.
The goal of Bitkey is to remove the frictions and concerns that have accompanied the transition to self-deposit and genuine ownership, allowing the next 100 million individuals to truly own and manage their money using Bitcoin.
More international markets, including the US, Canada, the UK, Brazil, and Australia, provide Coinbase and Bitkey
In more international areas, including the US, Canada, the UK, Brazil, and Australia, the new feature—which combines Coinbase and Bitkey—will be accessible right away.
Accordingly, Bitkey’s Business Lead, Lindsey Grossman, said:
At Bitkey, we’re building a self-custody bitcoin wallet designed to empower the next 100 million people to truly own and manage their bitcoin – safely and easily. Partners play a key role in bringing self-custody to a wider group of people around the world, and we are incredibly proud to have partnered with leading companies like Coinbase to make self-custody both secure and easy to use.
According to Bitkey’s announcement, there is a working cooperation with CashApp in addition to Coinbase.
Coinbase spends $45.5 million, part of which is used to repurchase debt
This news concerning Coinbase, which is dedicated to increasing the usage of self-custody, is accompanied by another about its debt.
In fact, it looks that Coinbase has spent up to $45.5 million on the repurchase of its debt, bringing the principal amount of the Notes it still has outstanding to $1.37 billion.
This entails the purchase of 2026 senior notes convertible at 0.50%.
Alesia Haas, Coinbase’s chief financial officer, stated the following in this regard:
We are always looking for the best opportunities to deploy capital to create shareholder value.
As we stated in our most recent shareholder letter, the first quarter of 2023 was a turning point in building a company that is more efficient and financially disciplined.
This opportunistic repurchase is a continuation of those efforts and reflects our confidence in our business, strong first quarter financial performance, and improved competitive positioning. We have reduced our 2026 convertible senior notes outstanding and we will look for additional such opportunities in the future.
US Congress is a target for Brian Armstrong
Coinbase CEO Brian Armstrong has stated that the US Congress will settle the dispute in the wake of claims made against the cryptocurrency platform by the US Securities and Exchange Commission.
Armstrong essentially contends that the SEC’s complaint against Coinbase and Binance mirrors the conflict between US institutions and the cryptocurrency sector.
The US Congress would therefore need to get involved in order for them to be the ones to govern the cryptocurrency market with new legislation.
Additionally, the US lacks regulatory certainty in this area as compared to Europe and other nations.