Casa Expands to Ethereum Custody
Since its launch in 2016, Casa has made waves in the cryptocurrency world with its self-custody storage solutions, initially catering to Bitcoin whales. The company has recently expanded its reach by introducing an Ethereum vault, allowing ETH holders to secure their digital assets with up to five keys.
Overcoming Protocol Differences
Casa’s initiative to include Ethereum in its security solutions addresses a long-standing industry gap. As Casa CEO Nick Neuman highlights, Bitcoin and Ethereum’s contrasting protocols had previously meant no common security solution existed on a single platform, apart from various hardware wallet models.
Potential to Include Other ETH-Related Assets
Beyond providing a secure platform for Bitcoin and Ethereum, Casa is exploring the possibility of adding self-custody support for various ETH-related assets. These include nonfungible tokens (NFTs), stablecoins, and ERC-20 tokens.
Responding to User Demand for ETH Self-Custody
The decision to include Ethereum as part of their custody service was in part a response to increasing demand from Casa’s users and the broader cryptocurrency community. Recent high-profile exchange collapses, like that of FTX, have heightened the need for reliable, self-managed custody solutions.
Addressing Web3 Security Concerns
Web3’s 2022 saw billions of dollars lost to decentralized finance bridge hacks and smart contract exploits. Casa’s announcement to include ETH storage on its platform is a direct response to these issues, addressing concerns around private key management.
Ensuring User Control and Peace of Mind
Casa CTO Jameson Lopp emphasized the importance of easy-to-use, accessible self-custody solutions. This gives users complete control over their assets while managing associated responsibilities, contributing to a much-needed peace of mind in the volatile crypto sphere.
Estimating BTC in Self-Custody Wallets
Industry experts suggest it’s challenging to accurately estimate the amount of BTC currently held in self-custody wallets, but as self-custody options like Casa’s continue to evolve, it’s clear that more and more users are taking the security of their digital assets into their own hands.
