Casa has added Ethereum support to its self-service storage solutions, providing multi-signature security for BTC and ETH.
Cryptocurrency self-custody platform Casa has rolled out support for Ether (ETH) storage, touting its support for multisignature Bitcoin (BTC) and ETH self-storage as a first in the industry.
Since its founding in 2016, Casa has promoted multisignature self-custody in the crypto industry. Its flagship Bitcoin vault allows users to store cryptocurrency using up to five keys for more distributed security.
Casa’s service was originally aimed at Bitcoin “whales” willing to spend $10,000 per year on custody before opening its service to a wider base of users. The company has now added an Ether vault to its platform, with ETH holders also able to use up to five keys to secure their holdings.
According to Nick Neuman, CEO of Casa, Bitcoin and Ethereum operate on completely different protocols, so the industry had yet to build a security solution that supports both on the same platform, aside from various wallet models materials.
The company is also discussing with users the possibility of adding self-custody support for various ETH-related assets, including non-fungible tokens, stablecoins, and ERC-20 tokens.
As Cointelegraph previously reported, Jameson Lopp, co-founder and CTO of Casa, highlighted growing calls from its users and the broader cryptocurrency community for multi-signature self-custody of the ETH.
Casa announced plans to launch an ETH storage solution amid several high-profile collapses of custodians like FTX, as many users not only lost access to ETH, but also their Ethereum-based stablecoins and to other ERC tokens.
Related: Ledger CEO Says Crypto Key Recovery Service Makes Self-Custodian Easier
Hackers have also wreaked havoc in the Web3 space in 2022, with billions of dollars stolen through hacking decentralized financial bridges and exploiting smart contracts. This is a point Neuman highlighted when Casa announced plans to store ETH on its platform, with many hacks in the “Web3/crypto space due to poor private key management.”
In an interview with Cointelegraph reporter Joe Hall, cypherpunk Jameson Lopp highlighted the importance of making self-custody solutions more accessible and easier to give users full control over their assets and peace of mind in the management of associated responsibilities.
Industry experts have also suggested that it is difficult to estimate the amount of BTC currently held in self-custody wallets.
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