The acquisition enables Swan Bitcoin to service its users from the point of initial education all the way through to self-sovereignty while keeping Specter open-source.
- Swan Bitcoin acquired Specter Solutions for its open-source bitcoin custodial applications.
- Specter can remain independent from Swan and will stay open-source.
- Users will not be required to provide any KYC information in order to use Specter services.
Swan Bitcoin, a leading bitcoin service provider, has acquired a leading bitcoin custodial services provider, Specter Solutions, per a press release sent to Bitcoin Magazine.
The addition of Specter Labs to the Swan portfolio enables the company to provide end-to-end solutions for their clients. These solutions mean from the initial moment of interest, to education, onto purchasing bitcoin and eventually becoming self-sovereign, Swan Bitcoin can assist its clients through the entire process.
“Our mission is to help create the next ten million Bitcoiners and walk with them on their journeys to freedom, prosperity, and self-sovereignty,” said Swan founder and CEO, Cory Klippsten.
The custodial software from Specter will remain open-source and Swan will provide engineering support and assist in product direction. Additionally, Specter’s application will not have any default network connections to Swan or know-your-customer (KYC) protocols requiring identification for the user.
“‘Do the best thing for Bitcoin and Bitcoiners’ has always been our guiding principle,” said Klippsten.
Furthermore, the Specter solution will not track any user data unless the user opts into specific features which will be “clearly labeled integrations,” per the release.
In addition, users can choose whether they want Specter to interact with Swan, or if they prefer complete independence from the platform.
“We have found strong alignment with the Swan team,” said Moritz Wietersheim, co-founder and CEO of Specter. “Our products and tools fit extraordinarily well together. We look forward to building products for Bitcoiners and continuing our journey to a bright orange future.“