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Rumor About ABN Amro Developing A Bitcoin Wallet Is A Hoax

by on September 9, 2016

The cryptocurrency world was in a state of shock yesterday due to a false news story. A statement on the ABN Amro claimed the Dutch bank was working on a prototype cryptocurrency wallet. Many people saw this as a validation of Bitcoin as a useful currency. As it turns out, this news was deleted shortly afterwards. For now, it is unclear if that was posted prematurely, or was just a hoax from day one.

Albeit it would have been interesting to see ABN Amro develop a Bitcoin wallet, that will not happen anytime soon. The bank has been exploring blockchain technology for over a year, but there is zero interest in Bitcoin, for now. The news that was posted on their website last night was quickly removed once people found out about it.

No Bitcoin Wallet By ABN Amro Just Yet

The statement made a mention of an in-house developed cryptocurrency wallet solution. ABN Amro claimed the software would be released very soon, although did not specify a timeline. Apparently, they were still examining the demand for this service in The Netherlands before giving in the green light. This all makes sense, as releasing such a tool would stir up a lot of dust, to say the least.

What was rather interesting was how the announcement post asked users to provide feedback on this idea. There was a bug on the page, though, as clicking the “I Am Interested’ button did nothing. This could indicate the post was released prematurely, albeit ABN Amro did not comment on whether or not they are working on a Bitcoin wallet.

However, there are some signs of this news being a hoax as well. The announcement was not indexed by search engines, nor was it posted on their official news page. While this is not conclusive evidence by any means, it goes to show people should not jump to conclusions when they read something.

Banks around the world have no interest in Bitcoin, let alone supporting cryptocurrency. While they value blockchain technology, some institutions favor issuing their own digital currency in the future. The Netherlands is quite open to Bitcoin and cryptocurrency, but that is no reason to expect miracles.

Header image courtesy of Shutterstock

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