Swan Bitcoin Transitions Ownership of Open Source Specter Project to Nonprofit Association

Swan Cofounder and CTO Yan Pritzker joins the Specter Association board as Specter moves forward

CALABASAS, Calif., Aug. 27, 2025 /PRNewswire/ -- Swan Bitcoin today announced its transfer of ownership of the Specter project to the Specter Association, a newly formed, community-led nonprofit in Switzerland established to steward the open‑source Specter project. The Specter Association was founded by long‑time Specter contributors and builders from around the world. In connection with this transition, Swan has transferred Specter brand rights and control of public channels (including GitHub, Specter's website, YouTube, and X handle) to the new Association. Swan Cofounder and CTO Yan Pritzker has joined the Association's Board of Directors.

Specter began as a community-driven effort to raise the bar for Bitcoin self‑custody, starting with a do‑it‑yourself (DIY) signing device and evolving into Specter Desktop, one of the earliest user-friendly tools for air‑gapped hardware wallets, multisignature (multisig), and full node connectivity. From its inception, Specter emphasized transparency and verifiability: open-source firmware, build instructions and parts lists, and an ethos that encouraged community contributions—from 3D‑printed cases to UX improvements and wallet integrations.

In 2022, Swan acquired Specter Solutions to integrate its technology into Swan's custody initiatives. The Specter team built the foundation for Swan Vault, Swan's collaborative multisignature custody service that makes advanced self-custody simple and accessible for clients. The Swan Vault Recovery Assistant, to be released shortly, and the Specter desktop application provide multiple paths to recovering a Vault. This transition marks the next chapter—returning full stewardship to the open-source community under the newly established Specter Association.

"Specter has always been a community project at heart," said Yan Pritzker, Cofounder and CTO of Swan. "By supporting a community‑led governance structure, we're helping ensure Specter remains a transparent, verifiable, and resilient toolkit for Bitcoin self‑custody. I'm honored to serve on the Board and support the mission of expanding safe, accessible self‑custody for Bitcoiners everywhere."

"The Specter Association's launch is a thrilling milestone for one of Bitcoin's premier open-source wallet projects," said Schnuartz, President of the Specter Association. "With clear governance and community leadership, we can move faster—improving features and refining the client experience. We're grateful to Swan for shepherding the Specter project and returning it to the community, and we invite builders and users alike to join us."

With the Association formalizing project stewardship, the focus now turns to making Specter widely available, contributor onboarding, beginner‑friendly documentation, and thoughtful UX improvements—without compromising the project's security-first design.

About Specter Association

The Specter Association is a Switzerland‑based, community‑led nonprofit stewarding the Specter open‑source project for Bitcoin self‑custody. The Association brings together long‑time contributors, educators, and hardware builders to maintain Specter's codebases, improve accessibility of DIY signing devices and air‑gapped workflows, and expand high‑quality documentation for users at every level.

About Swan Bitcoin

Swan is the premier Bitcoin-based wealth platform serving the fast-growing cohort of Bitcoin investors, businesses, and institutions. Swan's mission-driven team simplifies Bitcoin custody, security, and investment, delivering elite concierge support, exclusive networking, and industry-leading research. Swan services include concierge OTC service, institutional-level liquidity, tax-loss harvesting, inheritance planning, Bitcoin treasury strategy, Swan IRA retirement accounts, and secure custody options ranging from individually named accounts at regulated institutions to Swan Vault multi-signature collaborative custody. To learn more, please visit swan.com.

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SOURCE Swan Bitcoin