Bitcoin Wallet Blockchain to Add Buying Option

Bitcoin wallet company Blockchain is beta testing a new in-wallet purchase option in partnership with payments startup Coinify.

AccessTimeIconNov 14, 2016 at 5:13 p.m. UTC
Updated Sep 11, 2021 at 12:36 p.m. UTC
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Bitcoin wallet company Blockchain is beta testing a new in-wallet purchase option in partnership with payments startup Coinify.

Announced today, the feature will enable users of the popular wallet service to purchase bitcoin directly. Coinify, based in Denmark, operates in more than 30 countries in the region.

Today’s announcement marks the first step as Blockchain and Coinify will trial the option for customers in Europe on an invite-only basis, and the startups are eyeing a broader European launch within the next few weeks. Feedback collected from the trial will be used to tweak the option in anticipation of a global launch in the months ahead, though when that might take place isn't clear at this time.

The two startups framed the integration as a means to cut friction in the bitcoin buying process.

Blockchain CEO Peter Smith said in a statement:

“This announcement represents a giant step forward in making bitcoin, still a nascent currency, a more compelling and efficient financial solution for new users.”

The feature would mark a notable shift in strategy for Blockchain, which has long emphasized its software-only wallet design (it has not featured a purchase option since it was founded in 2012).

The deal comes months after Coinify raised $4m in a round led by Swedish banking group SEB and early-stage VC fund SEED Capital Denmark, its second funding round to date. Blockchain raised a $30m Series A round in 2014.

Image via YouTube


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