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Block introduces unique self-custody Bitcoin wallet called Bitkey

Block, Inc., formerly known as Square Inc. and led by Jack Dorsey, has launched Bitkey, a new self-custody bitcoin wallet.

Unlike traditional wallets that use passwords or seed phrases, Bitkey relies on an innovative 2-of-3 multi-signature mechanism to protect and recover the digital asset.

The initiative represents a new approach to bitcoin management, avoiding traditional seed phrases commonly used in cryptocurrency wallets.