Proton, a privacy-focused company behind solutions like Proton Mail and Proton VPN, has launched a self-custody crypto wallet. The Swiss-based firm announced that the new ‘Proton Wallet’ will initially support only Bitcoin (BTC), giving users full control over their private keys.
The company plans to add support for other crypto assets in due course. “While we may seek to add fiat currency capabilities in the future, this requires a Swiss banking license and is, therefore, not possible today,” Proton founder and CEO Andy Yen said.
Send BTC Like Email
Yen stated in a blog post that Proton Wallet is designed to simplify Bitcoin transactions, making cryptocurrency more accessible to the masses. As such, the wallet allows users to send Bitcoin via email, leveraging Proton Mail’s email infrastructure and encryption key management system.
Users can also send and receive Bitcoin through third-party email providers like Gmail and Outlook, as long as they have a Proton Account. Proton’s wallet will enable users to buy BTC in over 150 countries, partnering with on-ramp providers like Banxa to facilitate this feature.
Proton boasts over 100 million users across its suite of products, potentially paving the way for increased Bitcoin adoption.
Security Features
Proton Wallet emphasizes security and privacy with two primary features:
- Built-in two-factor authentication and an optional wallet passphrase separate from user login information, providing an extra layer of protection.
- AI-powered security program Proton Sentinel, which has been used to protect activists and journalists from cyberattacks, will offer further account protection.
