Square Crypto Develops Bitcoin Wallet Platform

Square Crypto, a crypto initiative of payment company Square, has developed Lightning Development Kit to provide digital wallet services with the purpose of increasing Bitcoin adoption.

The new platform includes software tools, beta apps and other features that help developers integrate and support payment activities in users’ Bitcoin wallets.

“Because we are a consolidated team of open-source developers, we are in a strong position to coordinate on major projects that individuals may not have the time or resources to tackle,” the company said in a statement today.

The move will help Square Crypto to offer payment services through its own platform, especially as the company was seeking the help of other companies to build separate portfolios for it.

In addition, the Kit tools will also help developers offer better beta systems for users. LDK is still under development, and no details were unveiled as regards its completion.

Square Crypto seeks the help of several developers to offer faster Bitcoin payment services.

“Wallets and applications require different key store and backup mechanisms, security approaches, UX tradeoffs and more,” the company said. “That means the solution is building for more wallets, not fewer.”

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.