Casa Enhances Self-Custody Storage with Ethereum Support and Multisignature Security for BTC and ETH
Casa, established in 2016, has been a strong advocate for multi-signature self-custody of BTC. Through its flagship Bitcoin vault, Casa enables users to store their cryptocurrency using up to five keys, ensuring enhanced security through distribution.
Casa initially focused on serving Bitcoin “whales,” who were willing to pay $10,000 annually for custody services. However, the company later expanded its offerings to a wider range of Bitcoin users. Recently, Casa introduced an Ethereum vault to its platform, allowing ETH holders to secure their assets using up to five keys, similar to the multi-key system used for Bitcoin storage.
Casa CEO Nick Neuman highlighted that there was a lack of a unified security solution for Bitcoin and Ethereum, as they operate on different protocols. Existing options mostly consisted of separate hardware wallet models. Recognizing this gap, Casa aims to address the need by offering a platform that supports both cryptocurrencies.
Furthermore, the company is actively exploring the possibility of extending self-custody support to other Ethereum-based assets, such as non-fungible tokens (NFTs), stablecoins, and ERC-20 tokens.
Casa’s co-founder and chief technical officer, Jameson Lopp, responded to the growing demand for multi-signature Ethereum self-custody. This demand stemmed from concerns raised by users and the broader cryptocurrency community, particularly in light of prominent exchange failures like FTX. To address the issue, Casa expressed its intention to introduce an ETH storage solution.
The aim is to provide secure storage not only for ETH but also for Ethereum-based stablecoins and other ERC tokens, as users have faced difficulties accessing these assets in the past due to exchange collapses.
In 2022, the web3 space experienced significant disruption caused by hackers. They managed to steal billions of dollars through various methods, including decentralized finance bridge hacks and exploits in smart contracts. This alarming trend was emphasized by Casa CEO Nick Neuman when the company announced its intention to offer ETH storage on its platform.
Neuman specifically pointed out that numerous hacks within the web3 and crypto space were primarily due to inadequate private key management. By introducing their storage solution, Casa aims to address this issue and enhance the security of users’ assets.
Casa, a platform for self-custody of cryptocurrencies, has introduced support for Ethereum, becoming the first in the industry to offer ETH self-storage. Additionally, industry experts have highlighted the challenge of accurately estimating the quantity of Bitcoin held in self-custody wallets.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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