Casa secures $21 million to capitalise on Bitcoin self-custody boom
Casa, creator of a simple and safe way to store bitcoin, recently announced a new public API that will power a new generation of Bitcoin-enabled financial services by enabling any business to integrate multisignature (multisig) wallets within their financial products and services.
Casa API is the first simple way for users to authenticate with their personal wallet in third-party services while maintaining control of the keys. The API unlocks a wide range of capabilities, including confirming financial information for situations including loan approval, seamlessly managing retirement investments, and automatically depositing Bitcoin to their Casa account.
Launch partners include Swan, which will soon enable automated “Deposit to Casa” functionality; Choice IRA, enabling users to display their self-directed IRA Bitcoin assets live within the Choice dashboard; and Hoseki, which will connect to Casa wallet to provide proof of funds for traditional lenders.
Each of the new services will be protected by Casa’s multisig technology, which helps users safeguard their bitcoin keys by ensuring that security is simple and usable for all.
“Bitcoin and traditional financial services have a shared destiny: they are increasingly converging, and we’re seeing hugely increased demand for solutions that tie the two ecosystems together,” said Casa Co-founder and CEO Nick Neuman.
“At Casa, we’ve always believed private key technology is about much more than just protecting your bitcoin; it should be the way you secure anything that’s valuable and sensitive — from your money to your digital identity.
“That’s why we created Casa API, which makes it easy for trusted organizations to start integrating with Casa customers’ wallets – all while the customer continues to hold the keys. We’re launching with three incredible new use cases, but we’re just scratching the surface of what will be possible to build on top of Casa’s security offering. We’re so excited to see the creativity from the developer community as they build on Bitcoin with the help of Casa’s private key management tools.”
The new API comes at the same time that Casa announces it has raised $21 million (£17m) in Series A fundraising as new and existing investors look to capitalize on the boom in Bitcoin self-custody.
Casa’s valuation is testament to growing awareness of the importance of self-custody as new and existing Bitcoiners look to secure their investment from cybercriminals, accidental loss and inheritance issues. Casa uses multisig security technology to make it easy for anyone to protect their bitcoin without having to worry about theft or accidents.
The latest funding round was led by Acrew Capital, while other new investors included Positive Sum Ventures, Naval Ravikant, Scott Belsky, and others. Casa also saw participation from existing investors, including Avon Ventures (who led last year’s seed funding round), Stillmark, Tioga Capital, Castle Island Ventures and Lerer Hippeau.
Casa will use the new investment and partnerships to develop its core offering, including customer-requested financial services such as borrowing and lending. The company’s core focus will, however, remain on helping as many individuals as possible to hold their private keys and to protect the digital assets — including money, digital identity and other high-value data — that matter most to them.
“Our investors will play a crucial role in driving the global self-sovereignty revolution in the years to come, ensuring we continue to drive the industry forward by delivering new solutions — like Casa API — that add to the richness, utility and, above all, security of Bitcoin,” said Nick Neuman. “Our partners’ strong consumer product experience and distribution advantages will be key to our mission of empowering individuals to secure their digital sovereignty.”