- Casa Wallet has launched the ETH pay wallet, a new Ethereum transaction relay service, to improve transactional privacy for its users.
- The ETH pay wallet is a single-signature option that operates as a relay for transactions, essentially breaking the on-chain relationship to Casa and providing an additional layer of secrecy.
- This new feature follows the June 2023 introduction of Casa’s multi-signature Ethereum self-custody vault and attempts to alleviate user concerns about the vulnerability of their Ethereum addresses.
Casa, a top cryptocurrency self-custody platform, has launched a new feature designed to improve privacy for its Ethereum (ETH) customers. In June 2023, the company introduced a multi-signature Ethereum self-custody vault, and now it has added an Ethereum pay wallet as a relay service. This substantially improved Casa’s first Bitcoin (BTC) custody offering, allowing users to manage their Ethereum holdings with up to five private keys for enhanced security.
The new relay service, known as the ETH pay wallet, competes with the existing Casa Relay. Initially, the latter was in charge of mediating interactions between users’ Ethereum vaults and the Ethereum blockchain. While the Casa Relay allowed users to deploy contracts and send transactions, it had a fundamental limitation: the Ethereum addresses connected to Casa could be accessed publicly via blockchain scanning tools.
ETH Pay Wallet: An Additional Layer of Anonymity
The ETH pay wallet intends to address the privacy concern. Nick Neuman, CEO of Casa, noted that transactions and gas costs originating from the ETH pay wallet will not be associated with Casa on-chain. This functionality, which was in the works even before the introduction of Casa’s Ethereum custodial vault, allows customers to customize their experience. Neuman stressed, however, that the ETH pay wallet would not allow perfect anonymity but would remove the on-chain connection to Casa.
Introducing the ETH pay wallet requires additional procedures than the Casa Relay. Users must cover gas fees using their pay wallet, which provides further anonymity for individuals who want to avoid having their on-chain Ethereum addresses linked to Casa.
The new feature is an important step forward in Casa’s continued efforts to improve user experience and security. It is consistent with broader business developments centered on consumer privacy and customization. While the ETH pay wallet does not enable perfect anonymity, it does bring an extra layer of privacy, which is a good innovation for customers concerned about their on-chain activity being publicly identified with Casa.
The ETH pay wallet is part of Casa’s larger objective to provide cryptocurrency users with solid and secure self-custody options. As the platform evolves, upcoming enhancements will likely include identity management solutions, secondary market trading, dynamic pricing mechanisms, and insurance pools.