Teaming up with Berlin-based fintech solarisBank, blockchain startup Bitwala is launching Germany’s first cryptocurrency bank account.
The company claims that almost 35,000 customers have so far pre-registered for the new platform which will combine all the everyday banking features of both the traditional and the crypto world.
Operating under solarisBank’s banking licence, the euro funds in the Bitwala bank account will be protected up to EUR100,000 under the German deposit protection guarantee scheme and supervised by Germany’s banking supervisors- BaFin and Bundesbank.
Peter Grosskopf, co-lead of solarisBank’s recently opened Blockchain Factory, says: “The cryptocurrency and blockchain space still has a lot of challenges. Our solarisBank Blockchain Factory will help to build a bridge to the Fiat world by providing banking services as APIs and more crypto specific solutions”