Theya Introduces Direct-To-Wallet Bitcoin Purchases

Multisig bitcoin vault maker Theya introduced yesterday it’s going to allow US customers to buy bitcoin by way of their app and have it despatched on to self-custody through {hardware} wallets like Ledger, Trezor, Basis and ColdCard or by way of its multisig vaults.

🚀 BUY BITCOIN LAUNCH 🔥

We’re launching a a lot requested, game-changing function that permits US-based customers to purchase Bitcoin instantly into self-custodial vaults.

Say whats up to low charges and goodbye to complicated transfers from exchanges! pic.twitter.com/aWB9vwDErZ

— Theya Inc (@TheyaBitcoin) August 20, 2024

This distinctive function not solely consists of immediate funding and low charges, but it surely removes the effort of shifting bitcoin from an alternate into self custody.

“We’re thrilled to introduce this much-requested function,” mentioned 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 function embrace a fast id verification course of, which ensures quick and safe bitcoin purchases, and in addition to the elimination of deal with whitelisting (acquiring permission from an alternate to ship your bitcoin to a sure deal with).

The brand new function presently leverages the ACH fee system for bitcoin purchases, and Theya plans to introduce a wire switch choice for bigger purchases.

To allow ACH transfers, Theya partnered with Cybrid, a regulated fee 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 private data of its clients.

“It’s a big 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 creating instruments that make self-custody easy, highly effective, and user-friendly.”

For extra data on Theya and Karnati, see our Founders piece on the corporate and its co-founder.