California based bitcoin wallet Airbitz is currently in beta testing for a new feature that will allow wallet users to buy and sell bitcoins inside of their application with the help of bitcoin exchange Glidera.
In July, Airbitz received $450,000 in venture capital from Block26 in a $1,250,000 ongoing seed round that was expected to close this past summer. Clearly they are working on making their wallet platform all-encompassing with a full suite of tools, which will give users the options not only to send, receive, and store bitcoins, but also to buy and sell them all in a single application. Recently Airbitz was ranked #2 in our Fall 2015 top rated bitcoin wallets report.
Airbitz will enable bitcoin exchange options within their wallet application through the use of the Glidera developers API. Glidera is a Chicago based bitcoin exchange which allows users to buy and sell bitcoins using their platform. As part of the Glidera offering, they help wallet developers integrate their bitcoin exchange functionality right into wallet applications and has a revenue sharing program. Glidera never takes custody of a customer’s funds, but merely enables the transaction via a connected bank account using low cost ACH transfers. Glidera announced their non-custodial bitcoin buying service in August.
Airbitz CEO and co-founder Paul Puey told BitcoinX in an email:
“One of the most important pieces of this launch is the fact that Glidera and Airbitz is the first partnership to enable users of a financial services company to authenticate with zero-knowledge public/private key authentication.
Glidera and Airbitz support the authentication protocol BitID which eliminates the need for a password to access users’ Glidera account. In addition to providing a higher level of privacy, it also provides significantly increased levels of security using the same underlying cryptography that secures bitcoin. The same Edge-Security that secures the bitcoin private keys in Airbitz is now utilized to secure the BitID private keys for authentication to Glidera and other future websites.
We hope that this paves the way for more websites, financial services, and apps to utilize BitID and eliminate the plethora of password phishing attacks, man in the middle attacks, and the cumbersome experiences of password management.”
Airbitz will be the first bitcoin wallet provider to use the new Glidera API bitcoin buying service in production, which should be launching the bitcoin buying service out of beta soon.
The article has been updated with an official comment from Airbitz.