Wallet of Satoshi to shift to self-custody model

Wallet of Satoshi said it will gradually phase out its existing wallet service, under which the company held users’ private keys directly, and shift to a self-custody model for its Bitcoin Lightning Network wallet. Under the new wallet, users will hold their own BTC and private keys, while the service will support both Lightning Network and Bitcoin on-chain transactions. In the U.S., the European Union, Australia and New Zealand, issuance of Lightning invoices on the legacy wallet has already been discontinued, with the remaining regions set to follow by the end of September. Receiving and sending through existing Lightning addresses will continue, and users can move their balances to the new self-custody wallet through June 30, 2027. Wallet of Satoshi previously shifted its in-store POS service to a self-custody model in May.