Blockchain Launches Hardware Wallet, Liquidity and Execution Service

Blockchain Launches Hardware Wallet, Liquidity and Execution Service

Cryptocurrency company Blockchain has simultaneously announced its launch of Lockbox, a hardware wallet created in conjunction with Ledger, and Swap, a liquidity and execution service that will let traders have an optimized in-wallet trading experience. 

Also see: Coinbase Lists USD Coin, Gets NYDFS Approval as Qualified Custodian

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From Hot to Cold, Blockchain Unveils Lockbox

On October 25th, Blockchain chief operating officer Peter Smith announced the wallet company’s two latest offerings, its new Lockbox hardware wallet and its Swap liquidity service.

Blockchain, which has been in operation since 2011, has hitherto provided “hot” software wallets through its site. The launch of a hardware wallet marks the company’s inaugural expansion toward the more secure and increasingly popular “cold” wallets.

Blockchain CEO Peter Smith at a talk in 2015. Image via Wired.

Created in conjunction with hardware wallet maestros Ledger and slated for shipping later this year, the Lockbox will allow users to have increased trading functionalities within their devices.

“With Lockbox you’re able to check your balance and receive transactions, on mobile and web, without the inconvenience of having to plug your device in every time,” Smith noted. “In an industry first, you’ll also be able to trade directly from your Lockbox while still maintaining your keys.”

The move comes after Blockchain first allowed their software wallet users in the U.S. to buy and sell bitcoin back in January 2018.

With Swap Comes Big Ambitions

Beyond the forthcoming Lockbox, the company also announced Swap, which partly launched on October 25th and is to be expanded to all users within two week’s time.

Pooling liquidity from a series of sources and counting, the KYC-compliant execution service will allow its users to leverage new trading software in order to facilitate accurate trades from inside the Blockchain account dashboard.

“Blockchain Wallet users will now have access to exchange-like prices without giving up control of their keys or their crypto,” Smith explained.

Despite this year’s cryptoeconomic bear market, Blockchain has been making moves to continue consolidating and furthering its position in the cryptoeconomy.

Back in February, the company hired Facebook and Google veteran Peter Wilson as Vice President of Engineering to steer the building out of their product offerings.

And now, with Lockbox and Swap, Blockchain is gunning toward becoming a one-stop suite for all things cryptocurrency. Smith said in his announcement that “additional assets and new products” are nigh for the platform, so the company isn’t set to slow down any time soon.

What’s your take? Are these steps in the right direction from Peter Smith and co.? Let us know in the comments section below. 

Images via Wired, Pixabay

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