Bitwala brings the first Bank account for Fiat and crypto money

Home News Bitwala brings the first Bank account for Fiat and crypto money

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Matthias Nemack –
25.09.2018

Real crypto-Fans, the set for years on various Coins, missing basically only one, luckily, a “real” crypto-Bank account. Such should be able to be opened by the service provider Bitwala soon also and.

Bitwala is planning the market launch for 2018

Over four million Euro secured, the company Bitwala least in the context of a comprehensive round of financing from different donors. Two well-known investors, the company High-Tech gründerfonds and the Digital Currency Group. The aim of the “Blockchain Banking Service”-Company Bitwala the development of the first Bank account on Blockchain-based, with full regulation in the German banking market. Also, the time frame is clearly defined: In November, the account model should go at the Start, when it comes to the Bitwala GmbH-President Jörg von Minckwitz.

The first major wave of registrations is already running

The company is managed according to its own statement, which is not managed other Start-Ups so far: the creation of a connection to a classic Bank account with the Blockchain technology. More than 30,000 investors and crypto enthusiasts that have decided in the past to buy currencies such as Bitcoin or Litecoin, you should already have a registration for the new Bank account. So at least it is in a current Bitwala opinion. Basically, all the typical account should be included in the benefits of the Transfer to the SEPA scheme up to the ATM withdrawal. In addition, the account holder should also be able to trade for the account belonging to the crypto-Wallet with the available account balance at the crypto market.

State supervision could attract many additional buyers

Important for critics of the so far lack of regulation of the crypto-sector: deposits to the new Bank accounts with crypto-Integration should be protected up to 100,000 euros on the German Deposit protection against failures caused by the account provider. Furthermore, there will be checks carried out by the Bundesbank and the BaFin. Bitwala with the innovative business model to its activities in the growing area of the “Blockchain banking”.