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Since its inception in 2016, Casa has promoted BTC multi-signature self-service in the industry with its flagship Bitcoin vault, allowing users to store cryptocurrency using up to five keys for greater distributed security.
The Casa service originally catered to Bitcoin whales who were willing to spend $10,000 a year on storage before opening it up to the wider Bitcoin user base. The company has now added Ethereum storage to its platform, and ETH holders can also use up to five keys to secure their assets.
According to Casa CEO Nick Neumann, the fact that Bitcoin and Ethereum operate as completely different protocols means that the industry has not yet created a security solution that supports both on the same platform, except for different hardware wallet models.
The firm is also engaging with users about the possibility of adding self-service support for various ETH-related assets, including non-fungible tokens (NFTs), stablecoins, and ERC-20 tokens.
As previously reported, Casa co-founder and CTO Jameson Lopp highlighted the growing calls for self-custody multisig ETH from its users and the wider crypto community.
Due to a series of high-profile collapses of major exchanges such as FTX, Casa has announced its intention to launch an ETH storage solution, given that many users have lost not only access to ETH, but also their Ethereum-based stablecoins and other ERC tokens.
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In 2022, hackers wreaked havoc in the web3 space by stealing billions of dollars through hacks into decentralized financial bridges and the use of smart contracts. This is the point that Neumann highlighted when Casa announced their plans to store ETH on their platform with many hacks in the “web3/crypto space due to poor private key management.”
Cryptocurrency self-service platform Casa has rolled out support for Ethereum (ETH) storage, touting its support for multi-sig bitcoin (BTC) and ETH self-storage as an industry first.
In an interview with Cointelegraph journalist Joe Hall, Lopp stressed the importance of making self-storage solutions more accessible and easier to use, in order to give users complete control over their assets and peace of mind in managing their respective responsibilities.
Industry experts have also suggested that it is difficult to estimate the amount of BTC currently held in self-custody wallets.