Block launches Bitkey wallet
- Block on April 28 unveiled a new Bitkey hardware wallet with a secure screen, adding transaction and security-setting approvals on the device itself. - Block said Bitkey keeps its 2-of-3 multisig design without seed phrases, while Cash App added auto-Bitcoin conversion and 5% Bitcoin Back rewards. - The launch extends Block’s broader bitcoin push across Cash App and Square, which already reaches millions of users. (block.xyz)
Block on April 28 launched a new Bitkey hardware wallet with a built-in secure screen for approving bitcoin transactions and security settings. (block.xyz) The screen is the main change. Block said customers now verify and authorize every security-critical action on the device itself, not partly on a phone or computer. (block.xyz) Bitkey still uses a 2-of-3 multisignature setup, which means two of three keys are needed to move funds. Block said that design avoids seed phrases and keeps recovery, privacy and inheritance tools built into the product. (block.xyz) (bitkey.world) The new wallet is available for preorder now, with shipping to follow soon. Block released the device alongside a technical “Bitkey Deep Dive” explaining its security, recovery, privacy and usability model. (block.xyz) Block paired the wallet launch with new Cash App bitcoin features. Eligible users can now auto-convert incoming peer-to-peer payments into bitcoin, get 5% Bitcoin Back at Square merchants, and withdraw up to $10,000 a day and $25,000 a week. (block.xyz) The company also rolled out proof of reserves across its corporate treasury plus customer bitcoin held through Cash App and Square. Block’s first-quarter disclosure showed 28,355 bitcoin, worth about $2.2 billion as of March 31, including 19,357 bitcoin for customers and 8,997 bitcoin in treasury. (block.xyz) (theblock.co) This fits a longer bitcoin strategy at Block rather than a standalone wallet release. The company says more than 24 million Cash App customers have bought bitcoin, and Square has been rolling out native bitcoin payments to eligible sellers. (block.xyz 1) (block.xyz 2) Square said in May 2025 that bitcoin payments would begin rolling out in the second half of 2025 and reach all eligible sellers in 2026, subject to regulatory approvals. Bitkey had already launched in March 2024, so this week’s announcement is a hardware refresh that adds on-device security controls. (block.xyz 1) (block.xyz 2) Block is packaging custody, payments and reserve transparency into one bitcoin stack. The new Bitkey device is the part aimed at people who want to hold their own keys without managing a seed phrase. (block.xyz) (bitkey.world)
