Proton, a privacy-focused company known for solutions like Proton Mail and Proton VPN, has launched a self-custody crypto wallet. The Swiss-based firm announced that the new Proton Wallet will initially support only Bitcoin. As a self-custody wallet, Proton Wallet gives users full control over private Bitcoin keys. The company plans to add support for other crypto assets in the future.

“While we may seek to add fiat currency capabilities in the future, this requires a Swiss banking license and is, therefore, not possible today,” said Proton founder and CEO Andy Yen regarding support for fiat currencies.

Send BTC Like Email

Yen stated that the Proton Wallet is designed to bring Bitcoin to everyone by eliminating the complexities that hinder mass adoption. The wallet allows users to send Bitcoin via email. Users will benefit from Proton Mail’s email infrastructure and encryption key management system to send and receive Bitcoin. The wallet will also support users with third-party email providers such as Gmail and Outlook, provided they have a Proton Account.

Global Accessibility

Proton claims its wallet will enable users to buy Bitcoin in over 150 countries. The company is partnering with on-ramp providers like Banxa to facilitate this feature. Proton’s suite of products already serves over 100 million users, potentially driving another wave of Bitcoin adoption in the market.

Security Features

Key to Proton Wallet’s focus on security and privacy are two main features:

  • Built-in two-factor authentication and an optional wallet passphrase, which adds an extra layer of protection separate from the user’s login information.
  • The AI-powered security program Proton Sentinel, designed to offer further account protection. This program has reportedly been used to protect activists and journalists from cyberattacks.

Stay updated with the latest news in the cryptocurrency world on Global Crypto News.

Post Views: 3