Bitcoin, Crypto currency, Blockchain

Bitwala gets € 4 million for the introduction of Blockchain Banking in Germany

0b7c63804848895c6ff0c2ab563d687b - Bitwala gets € 4 million for the introduction of Blockchain Banking in Germany

Bitwala, a global provider of blockchain-based payment services, with headquarters in Berlin, Germany, will introduce Blockchain-Banking, after you have received 4 million euros in venture capital from Earlybird and coparion.

Bitwala was founded in October 2015 by Jörg von Minckwitz, Jan Goslicki, and Benjamin P. Jones. The German Startup used crypto-currency, in order to develop faster and more cost-effective solutions. By Minckwitz, Goslicki and Jones long-term business partner. You have established Bitwala other Blockchain-companies such as and Transistor Coworking. The Transistor is Germany’s largest Fintech co-working Space.

Bitwala has tweeted:

We have just completed our most recent round of financing and were able to win 4 million Euro. So we want to the world a new unique Blockchain-Bank experience. We are looking forward @EarlybirdVC and @coparion_vc to our investors, family welcome. #bitcoin #blockchain banking #funding

According to a press release Bitwala is now supported by various investors as N26, ShapeShift, and EyeEm. You have joined the Bitwala investors family belonged to the High-Tech gründerfonds (HTGF), the Digital Currency Group (DCG) and ALSTIN.

In the first week of January, the customer base of Bitwala more than 80,000 entries. In the same month, the German Startup closed its services temporarily. A few months later Bitwala entered into a partnership with a German Bank to the Blockchain-Banking. More than 30,000 people have already signed up for the Onboarding. The account will have all of the features for the daily Bank business, both in the Fiat in the crypto world.

Christian Nagel, Partner at Earlybird venture capital said that

The Background and experience of the team have convinced us that Bitwala is it possible with crypto-currencies and to have the comfort and security of a Bank account.

The Bank is a partner of Bitwala offers SEPA and credit transactions, direct debits, standing orders and a debit card. In addition, a crypto currency Wallet is provided, which allows the crypto-currency trading with access to immediate liquidity. Bitwala allows SEPA and SWIFT Transfers by the exchange of Bitcoin, or Altcoins in more than 20 different Fiat currencies to any Bank account in over 200 countries around the world. In addition, they also provide a Bitcoin debit card and also act as a Bitcoin-Wallet Service to Store, Send, and Accept Bitcoin.

Jörg von Minckwitz, managing Director of Bitwala GmbH, said that

I am very proud of the fact that we are close with our new product, the gap between crypto-and traditional Banking, and one of the biggest hurdles on the way to Mainstream acceptance.

In April 2018 Bitwala-in-chief Jörg von Minckwitz in an Interview with The Paypers had said that, in most pubs or Restaurants in Berlin by Visa, Mastercard or Amex can be paid. This is due to the fees and partly on data protection. Crypto currencies have changed these circumstances, with their low fees and focus on privacy. For this reason, many small shops started to accept the crypto-currency. There are also a growing number of crypto Start-Ups in Berlin and the Community is one of the most dynamic in the world.

Furthermore, he said that the goal of Bitwala is to empower people to seamlessly switch between the crypto and the Fiat world. The means that crypto-currencies, in addition to their normal assets, to buy and to sell. Bitwala would like to create a fully compliant, secure and data protected, Cryptographic, which enables customers to use crypto on a daily, without having to worry about security, Compliance or control problems. With Bitwala it will be simple, its control to submit, to hold Coins securely and easily to exchange.

Germany is fast becoming a centre for crypto – currency and block chain development. Bitbond, a German Online Bank that uses Bitcoin for the international Transfer of loans. It has replaced SWIFT (Society for Worldwide Interbank Financial Telecommunication) through the Blockchain of Bitcoin, so that customers can transfer credits with Bitcoin anywhere in the world. SWIFT is a transaction delivery platform that is used by banks and financial institutions to submit information about the money transfer and payment transactions via secure telecommunications networks.

Loans are exchanged with the borrower using Bitcoin, only to be after the completion of the international process in paper money converted. This allows the customer to refrain from fluctuating trading prices of paper forms of money. Bitbond was founded in 2013 and 2016 as a financial organization authorized. Bitbond small and medium-sized enterprises (SMEs) helps the world to receive up to 50,000 Euro.

Bitwala debit card and Wallet

In December 2015 Bitwala launched its Bitcoin debit card. With the Bitwala Bitcoin debit card, which is powered by Visa, allows customers with a Bitcoin POS and Online payments as well as withdrawals at ATMs. The Bitcoin debit cards are issued by Wave Crest Holdings Limited and support more than 40 crypto-currencies. In August 2016 Bitwala brought a mobile and web-based crypto-currency Wallet for Android and iOS on the market. The Bitcoin Wallet has a Multi-signature technology, and a Two-factor process that allows it to sign transactions on the devices of their customers.

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If you are interested in other interesting news, read why PwC are predicting that the Blockchain can save the world, or how concertVR the world of music could change.

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This article was from English into German:

Christian Rehm

Senior IT Consultant and Crypto Enthusiast always in search of interesting news.

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