Casa simultaneously announced a new API designed to help its users interact with third-party services and the closing of a $21 million series A round.
- Casa has launched a new API that will enable third-party firms to interact with Casa wallets while users maintain full control of their private keys.
- The company also announced it had raised $21 million in a series A funding round to help it further develop its security-focused Bitcoin products and services.
- Casa raised $4 million in seed funding in February.
Bitcoin company Casa has announced a new application programming interface (API) to integrate wallets leveraging its platform with third-party financial products and services, per a press release sent to Bitcoin Magazine.
The API will allow developers of third-party organizations to integrate with Casa wallets while allowing users to maintain full control over their private keys. Users will be able to confirm financial information for situations including taking out loans, managing retirement investments and automatically depositing bitcoin to their Casa self-custody setup.
“Bitcoin and traditional financial services have a shared destiny: they are increasingly converging, and we’re seeing hugely increased demand for solutions that tie the two ecosystems together,” said Casa co-founder and CEO Nick Neuman.
Many of the concerns within the bitcoin ecosystem revolve around proper key management, the practice of securing the keys to one's bitcoin funds and managing its backups.
When users interact with platforms like bitcoin exchanges, custody of those keys is typically surrendered to the exchange, meaning users lose control of their coins.
“That’s why we created Casa API, which makes it easy for trusted organizations to start integrating with Casa customers’ wallets – all while the customer continues to hold the keys,” said Neuman.
The announcement of the new API is paired with a $21 million series A raise led by Acrew Capital. Positive Sum Ventures, Naval Ravikant, Scott Belsky, Avon Ventures, Stillmark, Tioga Capital, Castle Island Ventures and Lerer Hippeau also participated in the round.
“Our investors will play a crucial role in driving the global self-sovereignty revolution in the years to come, ensuring we continue to drive the industry forward by delivering new solutions — like Casa API — that add to the richness, utility and, above all, security of Bitcoin,” said Neuman.