- Swan Bitcoin acquired Specter Solutions for its open source bitcoin custody applications.
- Specter can remain independent of Swan and will remain open source.
- Users will not be required to provide any KYC information to use Spectre’s services.
Swan Bitcoin, a leading provider of bitcoin services, has acquired a leading provider of bitcoin custody services, Specter Solutions, according to a press release sent to Bitcoin Magazine.
The addition of Specter Labs to Swan’s portfolio enables the company to provide end-to-end solutions for its clients. These solutions mean that from the initial moment of interest, to education, to buying bitcoins and finally becoming self-sovereign, Swan Bitcoin can help its customers throughout the 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.
Specter’s custodial software will remain open source, and Swan will provide engineering support and help with product direction. Additionally, Specter’s application will have no default network connection to Swan or Know Your Customer (KYC) protocols that require identification for the user.
“Doing what’s best for Bitcoin and Bitcoiners’ has always been our guiding principle,” Klippsten said.
Additionally, the Specter solution will not track any user data unless the user opts in to specific features that will be “clearly labeled integrations,” according to the release.
In addition, users can choose whether they want Specter to interact with Swan or if they prefer complete platform independence.
“We found a strong alignment with the Swan team,” said Moritz Wietersheim, co-founder and CEO of Spectre. “Our products and tools fit together extraordinarily well. We look forward to building products for Bitcoiners and continuing our journey to a bright orange future.”