German cryptocurrency company Bitwala has partnered with solarisBank, a fintech firm with a banking licence, to introduce blockchain banking in the country.
The collaboration will leverage Bitwala’s expertise in cryptocurrencies and solarisBank’s digital banking platform to launch a German blockchain bank account next month.
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The new service, for which nearly 35,000 customers have already pre-registered, will enable convenient cryptocurrency management.
Once launched, all the customers will be entitled for variety of services including cryptocurrency trading, a debit card and regulatory protection of deposits up to €100,000.
The blockchain banking account will enable SEPA transactions as well as enable smooth cryptocurrency trading through the built-in bitcoin wallet.
Bitwala president Jörg von Minckwitz said: “We are very proud to partner with solarisBank as we launch our new product.
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By GlobalData“Their technical services and regulatory umbrella enable Bitwala to be fully compliant with German banking requirements while offering a reliable user experience.”
solarisBank Blockchain Factory co-head Peter Grosskopf said: “We are excited to be working with Bitwala, a pioneer among Germany’s blockchain companies and the perfect fit for our Blockchain Factory.
“Together, we will be shaping a part of the future of this industry.”
Bitwala also launched a new website to help people understand and improve their knowledge on cryptocurrency and blockchain.
Currently, the website is available in German and English.
