Note: The activities described in this article involve running software on iOS devices that is experimental and that has not been approved by Apple.

Please use caution and install software only from third-party developers you are sure you trust, especially if your device already has bitcoin wallet, banking, or other sensitive apps installed.

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A mobile app development team says it has found a novel workaround to Apple’s bitcoin wallet ban and strict App Store regulations: Its own native app store that allows users to download and install any app they like on an iOS device. The team has also developed a standalone bitcoin wallet app that it plans to demo along with the store at upcoming conferences in New York City and Toronto.

Developer Andrew DeSantis first announced the new store, a product of the Birmingham, Alabama, company Avalonic he co-founded with business partner Tyler Evans, on Twitter and reddit today.

If it works as he claims and his legal advice is correct, it could represent a breakthrough for both iOS and bitcoin users.

Still in beta

At the moment, the independent app store, still a sign-up beta, has a focus on bitcoin solutions and is even called the ‘Bit Store’. The bitcoin wallet app will be released separately today and anyone downloading it will be signed up to test Bit Store when it’s available. Neither requires an iOS device to be jailbroken and the apps available are not web-based, instead using a combination of HTML5 to render app interfaces and back-ends written in C.

The plan is for the store to include all kinds of apps in time, with bitcoin serving as the payment system. The apps themselves will be cross-platform and will function on any mobile platform once a version of the store is released for it.

The Bit Store beta currently has just a few simple apps available, including the bitcoin wallet and a news aggregator/company directory. The ‘Wallet’ app uses the Coinbase API to send and receive bitcoins to any address, with values denominated in BTC or USD.