On March 1, nearly two years after Jack Dorsey’s technology conglomerate Block (known as Square at the time) announced plans to build a self-custodial Bitcoin wallet, the company revealed that more work still needs to be done regarding its plans and that Block is actively seeking partners “to make this a reality.” As told by Block, partnerships are required to move assets between fiat and Bitcoin financial systems and provide users with the access and information they need to buy, sell and store Bitcoin (BTC) securely and easily.
The company stated it is prioritizing a quality-over-quantity approach to select on- and off-ramp partners. Technical, product and UI expertise aside, Block said that potential collaborators would also need to demonstrate price transparency, depth in local payment method coverage, and competency in onboarding and withdrawal processes in order to satisfy its standards.