Block Debuts Public Bitcoin Proof-of-Reserves Dashboard Covering Treasury and Customer Holdings
Block has launched a public Bitcoin proof-of-reserves dashboard covering its corporate treasury alongside Cash App and Square customer holdings, enabling users to cryptographically verify wallet ownership without exposing private keys. The rollout coincides with new Bitcoin products including a multisig Bitkey hardware wallet, 5% Bitcoin rewards, and higher withdrawal limits.
1. Proof-of-Reserves Dashboard Launch
On April 27, Block unveiled a Bitcoin proof-of-reserves dashboard that transparently displays its corporate treasury holdings alongside customer balances in Cash App and Square. This public review portal aims to bolster trust by allowing stakeholders to see the exact distribution of Bitcoin reserves held across Block’s operations.
2. Cryptographic Verification Mechanism
The dashboard leverages on-chain cryptographic signatures for users to independently confirm wallet ownership without revealing private keys. All verification processes run directly in the browser, ensuring security and privacy while proving that Block controls the specified wallets.
3. Accompanying Bitcoin Product Updates
Alongside the reserves dashboard, Block introduced a new Bitkey multisig hardware wallet eliminating seed phrases, a 5% Bitcoin Back rewards feature at Square merchants, automatic peer-to-peer Bitcoin conversions in Cash App, and increased Bitcoin withdrawal limits of $10,000 per day and $25,000 per week.