Swiss technology company Proton, known for its privacy-focused tools such as ProtonMail and ProtonVPN, has announced the launch of Proton Wallet, a new self-custody Bitcoin wallet.
The product integrates with ProtonMail, allowing users to send Bitcoin as effortlessly as sending an email.
Andy Yen, Proton’s founder and CEO, explained that the Proton Wallet was designed to address the challenges of Bitcoin transactions and security concerns.
“By making Bitcoin transactions as user-friendly as PayPal while maintaining Bitcoin’s decentralised nature, Proton Wallet aims to overcome barriers to Bitcoin’s societal value,”
Yen stated
Dingchao Lu, Director of Proton Wallet and the company’s first employee, expressed his appreciation for Bitcoin’s role in Proton’s history and his desire for it to benefit Proton users globally.
“We aim to lessen the world’s reliance on centralised financial institutions,”
Lu said in the press release shared with Bitcoin Magazine. “By allowing users to manage their own encryption keys and digital assets, we’re providing financial freedom, enhanced privacy, and security to millions worldwide.”
Proton Wallet will utilise the company’s existing infrastructure to enhance user experience. To complete a Bitcoin transaction, both the sender and recipient must have a Proton Wallet. Users can send Bitcoin using just the recipient’s email address, whether it’s a ProtonMail address or not.
Proton Wallet enhances privacy by rotating Bitcoin addresses with each transaction, preventing them from being linked to a user’s identity.
According to the announcement, Proton Wallet is currently available exclusively to Proton Visionary users—an otherwise legacy plan recently re-opened for a limited time—and selected Bitcoin community members through an early access program. These participants have the ability to invite others, with broader availability planned for all Proton users in the future.
In related news, Visa partnered with WireX to accelerate virtual currency adoption in the UK and Europe. Announced on July 15, 2024, the collaboration aims to create innovative payment solutions and reduce transaction friction. The partnership will integrate Visa cards with WireX’s latest product, a ‘modular Zero Knowledge (ZK)’ payment mainnet called Wirex Pay, designed to streamline both mainstream and digital asset transactions, merging blockchain technology with traditional financial solutions.
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