FediMint Adds New Bitcoin Custody Solutions – Bitcoin Magazine

Disclaimer: The author is a venture partner at Ten31, which co-led Fedi’s seed round.

The below is a direct excerpt of Marty’s Bent Issue #1241: “Fedi is here to bring a consumer app building on FediMint.” Sign up for the newsletter here.

We’ve been covering the development of FediMint in Marty’s Bent for a little over a year now. FediMint is an open-source protocol that enables groups of individuals to create federated Chaumian Mints on Bitcoin. When individuals send bitcoin to these federated mints they receive Ecash tokens that represent different denominations of sats. In return, they can then send these within the mint to other users with a high degree of privacy. Once users are inside the federation and transacting with Ecash tokens, federation members do not know who is transacting with whom. This is a very creative way to give end users better privacy while creating an environment in which bitcoin can scale to billions of people.