Multisig bitcoin vault maker Theya introduced yesterday it’ll allow US customers to buy bitcoin by means of their app and have it despatched on to self-custody by way of {hardware} wallets like Ledger, Trezor, Basis and ColdCard or by means of its multisig vaults.
🚀 BUY BITCOIN LAUNCH 🔥
We’re launching a a lot requested, game-changing characteristic that enables US-based customers to purchase Bitcoin instantly into self-custodial vaults.
Say hi there to low charges and goodbye to complicated transfers from exchanges! pic.twitter.com/aWB9vwDErZ
— Theya Inc (@TheyaBitcoin) August 20, 2024
This distinctive characteristic not solely consists of prompt funding and low charges, nevertheless it removes the effort of transferring bitcoin from an change into self custody.
“We’re thrilled to introduce this much-requested characteristic,” stated Sriram Bhargav Karnati, co-founder of Theya, in a press launch shared with Bitcoin Journal. “By enabling direct bitcoin purchases into self-custodial storage, we’re eliminating the necessity for complicated transfers from exchanges and offering our customers with unparalleled flexibility in how they purchase and retailer their Bitcoin.”
Different key advantages of this new characteristic embody a fast identification verification course of, which ensures quick and safe bitcoin purchases, and in addition to the elimination of deal with whitelisting (acquiring permission from an change to ship your bitcoin to a sure deal with).
The brand new characteristic at present leverages the ACH cost system for bitcoin purchases, and Theya plans to introduce a wire switch possibility for bigger purchases.
To allow ACH transfers, Theya partnered with Cybrid, a regulated cost platform registered as a Cash Service Enterprise (MSB) within the US. Cybrid manages the Know Your Buyer (KYC) course of in order that Theya doesn’t have to gather, retailer or course of the non-public info of its prospects.
“It’s a major step ahead in making Bitcoin acquisition each accessible and safe,” added Karnati. “We imagine in empowering customers with selections in how they handle their Bitcoin, and we’re devoted to growing instruments that make self-custody easy, highly effective, and user-friendly.”
For extra info on Theya and Karnati, see our Founders piece on the corporate and its co-founder.