Before offering its service to a wider audience, Casa catered only to Bitcoin whales.

Its flagship Bitcoin vault has multi-key encryption, offering customers five different keys.

Casa, a cryptocurrency self-custody platform, recently added support for Ether storage, claiming this to be a first in the market alongside its support for Bitcoin self-storage.

Moreover, Casa has been advocating for multisignature self-custody in the cryptocurrency space since its creation in 2016. Its flagship Bitcoin vault has multi-key encryption, allowing customers to store Bitcoin with a maximum of five different keys.

Before offering its service to a wider audience, Casa catered only to Bitcoin “whales” ready to pay $10,000 per year for safekeeping. The firm has introduced an Ether vault, allowing users to protect their ETH with a maximum of five different keys.

Ethereum Associated Products Underway

Casa’s CEO Nick Neuman claims that, despite the proliferation of hardware wallets, the industry has not yet developed a security solution that supports both Bitcoin and Ethereum on a single platform.

Moreover, customers are being consulted on whether or not the company should allow self-custody of non-fungible tokens, stablecoins, and ERC-20 tokens, all of which are associated with Ethereum. Casa’s co-founder and CTO, Jameson Lopp, recently discussed the growing demand in the cryptocurrency world for multisignature ETH self-custody.

Many customers have lost access to their ETH and other Ethereum-based stablecoins and ERC tokens, prompting Casa to declare its intention to create an ETH storage option. In 2022, hackers caused havoc in the Web3 domain, stealing billions of dollars using flaws in decentralized financial bridges and smart contracts.

When Casa announced support for ETH storage on its platform, Neuman pointed out that numerous attacks had occurred in the space because of improper private key management.

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Filed under: Bitcoin - @ June 24, 2023 10:13 am