Cryptocurrency service providers have shown a tendency to innovate at the right time. Bitwala is introducing blockchain banking in Germany. This move is made possible courtesy of a recent 4m euro funding round. Customers will benefit from owning a fully regulated blockchain bank account.
Bitwala is a prominent company in the world of Bitcoin and cryptocurrencies. Their vision to merge banking with cryptocurrency has not gone by unnoticed. After forging a strategic partnership with a partnering bank, Bitwala has been able to thrive and evolve while other companies struggled. As such, the company now plans to launch fully regulated blockchain banking in Germany,
A Major Move by Bitwala
The onboarding process has only been opened for pre-registration recently. Despite this initial approach, over 30,000 interested users have put their name forward to trial this service. Users will receive all the benefits of traditional banking, but with sufficient services pertaining to cryptocurrency as well. Having a German bank account with a debit card is a very appealing offering.
Bitwala GmbH President Jorg von Minckwitz adds:
“The cryptocurrency community is eagerly awaiting the launch of our new service. I’m very proud that with our new product we will close the gap between crypto and traditional banking and solve one of the biggest hurdles on the road to mainstream adoption.”
This development comes at a crucial time for the cryptocurrency industry. After the rough year 2018, services like these can effectively take Bitcoin into the mainstream fairly soon. For Bitwala, it is also an important evolutionary step After focusing on worldwide money transfers for a while expanding into blockchain banking appears to be a logical decision.