In a key step toward its next phase of development, Blink has appointed Lukas Duczko as its new CEO and Executive Chairman. The leadership change marks a new direction for the popular Bitcoin wallet as it continues to expand its role in supporting Bitcoin adoption at the grassroots level.
The move follows a transaction between Galoy Inc. and Duczko, who has acquired a controlling stake in Blink and led a seed financing round aimed at strengthening the wallet’s position in the ecosystem and accelerating its growth.
In addition to Duczko’s leadership, several notable figures from the Bitcoin ecosystem have been appointed to Blink’s Board of Directors. These include Mike Peterson, Founder of Bitcoin Beach; Gerson Martinez, Chief Strategy Officer of Volcano Energy; Moritz Wietersheim, Founder of Specter Wallet; Kgothatso Ngako, Founder of Machankura; Jeremy Showalter, Chief Business Officer of Swan; and Pointbiz, Founder of Bitaddress.org.
“I am excited for the next chapter of Blink,” stated Nicolas Burtey, CEO of Galoy, in the official press release. “It’s in the hands of experienced and principled bitcoiners. Between the addition of Lukas, the new board, and the existing team, the wallet is well-positioned to continue driving Bitcoin adoption from the bottom up.”
Galoy, while no longer the primary driving force behind Blink, will continue to play a supportive role. The company retains a minority stake in Blink, and several Galoy team members will transition over to Blink, ensuring operational continuity and leveraging their expertise to support Blink’s next steps.
We’re happy to share that Blink has completed a transaction aimed at supporting its growth and commitment to Bitcoin communities worldwide.
With Lukas Duczko as the new CEO and a capable board in place, Blink will continue to focus on driving Bitcoin…
— Blink – The Everyday Bitcoin Wallet (@blinkbtc) October 21, 2024
Burtey remains confident in Blink’s future, emphasizing that Galoy will continue to provide services and technical support while focusing on its core banking platform and enterprise Bitcoin solutions.
“With this transition, Galoy is free to focus entirely on supporting enterprise Bitcoin adoption and developing its open-source core banking platform,” Burtey explained.
Blink, originally known as Bitcoin Beach Wallet, was created to support the budding Bitcoin economy in El Zonte, El Salvador. It played a pivotal role in the country’s broader Bitcoin adoption strategy, which later culminated in Bitcoin being declared legal tender in the nation.
Mike Peterson, the visionary behind Bitcoin Beach, emphasized the importance of Blink in the ongoing Bitcoin movement in El Salvador.
“Blink is an important part of the Salvadoran Bitcoin story,” Peterson said. “When I was asked if I could join the Board of Directors to help coach the team, the choice was obvious.”
As part of the transaction, a Bitcoin Beach Fund was also established. It includes shares of Blink that will be distributed to Salvadorans actively working to build Bitcoin circular economies across the country. According to the release, this initiative ensures that the local communities driving Bitcoin adoption remain directly involved in Blink’s future.
“Bitcoin community efforts have been a passion of mine since 2021 when I started the Global Bitcoin Fest podcast together with a group of other community enthusiasts,” added Duczko. “We were usually first to cover the birth of new circular economies. Joining Blink feels like a natural next step in my personal Bitcoin journey.”
Blink has become a widely used Bitcoin wallet thanks to its innovative features that make Bitcoin more accessible and practical for everyday use. One of its standout features is Stablesats, a tool that allows users to manage their exposure to Bitcoin’s volatility. With Stablesats, users can hold, send, and receive funds in either Bitcoin or USD-equivalent Stablesats Dollars. This flexibility is made possible by leveraging the Lightning Network, which ensures fast and low-cost transactions, making Bitcoin more practical for users looking for stability in their finances.
For merchants and businesses, Blink offers seamless Point of Sale (POS) solutions. These tools enable the effortless acceptance of Bitcoin payments, whether it’s for selling products, accepting donations, or receiving funds quickly and securely through the Lightning Network. Blink’s For Merchants section provides detailed resources for businesses looking to integrate Bitcoin into their operations, helping them stack sats with ease and efficiency.
