Open Source, Multisignature Wallet Bitvaulty Changes Name To BitVault

Milan, Italy. Oct 18, 2024 — Open source Bitcoin wallet BitVault announces rebranding of its multsignature self-custody app.

• BitVault’s mission is to enable billions of people to secure digital property with easy multisig and bulletproof security features, and to live by the principle “Be Your Own Bank.”
• BitVault includes a mobile app, web app, and a set of recovery tools, and will be available on bitvault.sv for customers across over 95 countries.

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Bitvaulty Inc, developers of the open source and self-custodial Bitcoin wallet BitVault, announce “BitVault” as their new name and unveil a new logo. The decision to drop the "Y" in the wordmark follows a maturation of the company, which is now closing its first fundraising round.

“BitVault is recognizable around the world and embodies trust and innovation. It signifies our ambition to become a household name for multisig wallets,” explains Francesco Madonna, CEO and founder of Bitvaulty Inc.

The new name aligns better with the team’s broader vision: to provide users with cutting-edge security features tailored for Bitcoin holders.

“We believe that everyone needs to have the ability to protect Bitcoin effectively,” highlights Francesco Madonna. “Our rebranding signifies our dedication to innovation in security solutions for Bitcoin holders.”

Beyond the name change, BitVault has solidified its core purpose and product strategy. “Our mission is to democratize access to multisig technology, making it available to billions so that securing digital property is easy and accessible,” explains Madonna.

With the new name and logo, BitVault positions itself as a steadfast rock in a turbulent Bitcoin ocean — a reliable solution for users seeking security and transparency. “We stand for ‘trust by verification,’ fostering an open community that prioritizes collaboration and accountability,” says Madonna. BitVault is fully open source, meaning that the code for the product is openly available and can be reviewed by anyone.

“Our vision is a world in which self-custody is the norm,” shares Madonna. He explains: “We’re inspired by the Bitcoin community’s shared values and the goal to create a better future through sound money.”

BitVault seeks to close the gap in the Bitcoin wallet landscape by offering bulletproof security to individuals and businesses alike, making it difficult for scammers, hackers, and criminals to steal funds.

More about BitVault

Pioneering Innovative Security Features With Multisignature and Time Delays

BitVault is designed as a fortress against both physical attacks and digital hacks. Utilizing advanced multisignature (“multisig”) technology, and time locks, the platform offers users a unique combination of time-delayed transactions and a convenient multisig service, ensuring that users’ assets are well-protected even in high-risk situations.

• Protection Against Physical Attacks: BitVault’s multisig technology allows users to set up time delays for transactions. This means that even if users are coerced into handing over their keys, their funds remain secure until the delay period expires. A warning notification appears at each app launch, alerting users about active time delays.
• Preventing Hacks: By employing time-delayed transactions, BitVault safeguards against unauthorized access. Even if an attacker gains control of a user’s device, immediate fund transfers are blocked, significantly deterring potential breaches.
• Zero Counterparty Risk: With 256-bit AES encryption and a fully open source framework, BitVault ensures that users retain complete control over their assets without reliance on third-party custodians.

A Unique Wallet Solution

BitVault is developed “open source” to provide a secure, transparent, and encrypted wallet:

• Customizable Time Delays: Users can set transaction delays that range from hours to days.
• Seamless Integration with Bitcoin L2s: The wallet supports integration with popular Bitcoin layers such as Liquid and the Lightning Network, enhancing transaction efficiency and reducing fees.
• Scalable Security: As users accumulate bitcoin, they can easily scale their wallet’s security features.

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For more information about BitVault and its features, please visit https://bitvault.sv.

Media Contact:

Francesco Madonna
CEO
francesco@bitvaulty.com

+1 (302) 273-5260

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