Bitwala rolls out new crypto banking solution

Posted 13 December, 2018

Germany-based Bitwala inaugurates its revised crypto instrument for single bank account supporting bitcoin and fiat.

The new product is a result of cooperation with Berling's solarisBank (licensed banking company regulated by the Federal Financial Supervisory Authority BaFin and the European Central Bank). 

As the company commented, the new instrument is designed to bring together cryptos and traditional banking. Specifically, users will be able to manage their deposits both in digital coins and euro via one account and enjoy reliable German banking service.

Bitwala explained that debit card and wallet will be added to every account making it easy to make crypto-to-fiat exchanges. In addition, Bitwala also offers deposit insurance for up to EUR 100,000, like any other bank in Germany.

According to the released data, the service will be available for German residents at first, though global expansion is planned in the near future.

"We are first launching our accounts in Germany and we plan to expand within the coming months. Onboarding will start from the top of the list and we’ll be onboarding substantially more people over the next months, so you shouldn’t have to wait long if you are further on the list," the company press release reads.

Notably, Bitwala offers free accounts and debit cards, while bitcoin trading will b subject to 1% transaction fee.

For now, more than 40,000 customers have passed pre-registration.

For reference, the company expressed intentions to revise business in early 2018 following the end of Visa-WaveCrest cooperation. Besides, Bitwala reportedly received funding from EarlyBird and COPARION fund this September.

Previous story

13 December, 2018 14:22

← Boerse Stuttgart Group to launch trading platform for cryptos in 2019

Boerse Stuttgart Group, the top-2 stock exchange in Germany, reportedly unveiled plans to set up a crypto trading platform in cooperation with solarisBank in H1 2019. The company believes it will be a good cooperation taking into account vast experience of solarisBank in the crypto banking and technology areas. Initially, the exchange is said to accept Bitcoin and Ethereum. In the long run, it is planned to add various tokens that may be issued via platform's own ICO service. The trading service will be offered to both retail and institutional investors.

Boerse Stuttgart Group to launch trading platform for cryptos in 2019

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12 December, 2018 18:10

Kraken platform said to float private offering →

US-based crypto trading platform – Kraken – announced intentions to float a private offering. The company has sent notification letters to the major users of the platform. Specifically, the users receive a feedback form to file at first, and then more details about the project are provided. According to the company spokesperson, they have sufficient funding now, though there is a good chance for expansion especially taking into account the market environment and its own reserves. Before the participation, all the investors that express intention to take part in the offering will be checked whether they comply with the company requirements.

Kraken platform said to float private offering
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