Square Inc has confirmed it will produce a hardware wallet for bitcoin.

Cryptocurrencies reached a record $2 trillion capitalizations in April, but U.S. oversight of the market remains dismal.

Bitcoin wallets can be stored offline or online at cryptocurrency exchanges where bitcoin can be bought and sold for traditional or other cryptocurrencies.

With a non-custodial wallet, an individual has sole control over their private keys which controls their cryptocurrency and proves the funds are theirs. By using a custodial wallet, their keys are controlled by another party. 

This news was revealed in a tweet hours before U.S. Senator Elizabeth Warren pointed out the growing risks the cryptocurrency market poses to consumers and financial markets.

For more information, read the original story in Reuters.