Since its inception in 2016, Casa has promoted multi-signature self-custody of BTC in the industry with its flagship Bitcoin vault that allows users to store cryptocurrency using up to five keys for additional distributed security.
Casa’s service was originally catered to Bitcoin ‘whales’ willing to spend $10,000 a year on custody, before opening its service to a wider base of Bitcoin users. The company is now adding an Ethereum vault to its platform, with ETH holders also able to use up to five keys to secure their holdings.
According to Casa CEO Nick Neuman, the fact that Bitcoin and Ethereum operate as completely different protocols, the industry has not yet built a security solution that accommodates both on the same platform except for various hardware wallet model.
The company is also engaging users with the potential of adding self-custody support for various ETH-related assets including nonfungible tokens (NFTs), stablecoins and ERC-20 tokens.
As previously reported by Cointelegraph, Casa co-founder and chief technical officer Jameson Lopp highlighted the growing calls for a multi-signature ETH self-custody from its users and the broader cryptocurrency community. .
Driven by several high-profile collapses of major exchanges such as FTX, Casa has announced its intention to launch an ETH storage solution given that many users have not only lost access to ETH but the their Ethereum-based stablecoins and other ERC tokens.
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Hackers wreaked havoc within the web3 space in 2022, with billions of dollars stolen through decentralized financial bridge hacks and smart contract exploits. This is a point that Neuman emphasized when Casa announced its plans for storing ETH on its platform, which has seen many hacks in the ‘web3/crypto space due to poor private key management.’
Cryptocurrency self-custody platform Casa has launched support for Ethereum (ETH) storage, announcing its support for multi-signature Bitcoin (BTC) and ETH self-storage as an industry first.
In an interview with Cointelegraph journalist Joe Hall, Lopp emphasized the importance of making self-care solutions more accessible and easy to use to give users full control over their assets and peace of mind in handling shared responsibilities.
Industry experts also suggest that it is difficult to estimate the amount of BTC currently held in self-custody wallets.
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