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Today, Blockstream, a global leader in Bitcoin infrastructure, announced a partnership with Swan Bitcoin, a prominent Bitcoin-only financial services company, to launch Swan Vault, enabling customers to safeguard their Bitcoin via collaborative custody, according to a press release sent to Bitcoin Magazine. Swan Vault is powered by Blockstream Jade, an open-source Bitcoin hardware wallet.
“Integrating Blockstream Jade’s multi-signature and hardware-based authentication into Swan Vault elevates the standards of Bitcoin collaborative custody,” said Swan Bitcoin CEO Cory Klippsten. “The user-centric focus on security is a key aspect of this partnership.”
This partnership attempts to address a common concern among Bitcoin investors – the secure storage of their assets. While many Bitcoin investors prioritize security, they may lack expertise in key management and multi-signature technology. Swan Vault, backed by Blockstream Jade, aims to bridge this gap by providing a collaborative custody solution for BTC holders. This allows customers to maintain full control over their Bitcoin holdings while enjoying a user friendly experience for setting up their wallets and conducting transactions.
“In bringing our technical expertise into the mix with Swan’s user-centric approach, we are advancing the practice of collaborative custody in the Bitcoin ecosystem” said Adam Back, CEO at Blockstream. “It’s aimed at driving adoption and making collaborative custody a normalized practice in the Bitcoin industry.”
Swan Vault is the latest product to offer collaborative Bitcoin custody solutions, joining Unchained, Casa, and Nunchuk.
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