Bitcoin financial services company Swan is introducing a “shared storage” service using Blockstream’s Jade hardware wallet.

Swan and Blockstream announced on Thursday that through the service, users will be able to maintain full control over their bitcoins (BTC), knowing that they are securely stored offline.

Co-storage, in this case, means a multi-signature wallet scheme combined with third-party support for purposes such as backup and transfer, which enhances the convenience of bitcoin storage, the companies said.

Cryptocurrency platforms often struggle with providing users with confidence in the security of their assets without having to take personal responsibility for their financial security by managing their own keys, etc.

However, the collapse and capitulation of several centralised crypto platforms, most notably the FTX crypto exchange in November 2022, has reminded many unfortunate users who lost access to funds of the adage “not your keys, not your coins”.

As such, there is a natural demand for services that provide both enhanced asset security and ease of use.