Bitwala cryptobank started operations in Germany
The banking blockchain has just launched commercial operations in the German territory where it already has 40 thousand subscribers
The German blockchain platform Bitwala, initially conceived as a center for money transfers worldwide, just opened a cryptobank after collecting last September 4 million euros for that purpose.
Bitwala incorporates the bitcoin wallet as well as regular banking services based on FIAT. SolarisBank is in charge of operating the bank account of the platform. The affiliates, who add up to 40 thousand, have the possibility to perform debit and credit transactions compatible with Sepa, manage recurring payments and a debit card.
The president and co-founder of Bitwala, Jörg von Minckwitz, said: “Bitwala’s 30-member team did an excellent job in developing a service within the limits of banking regulation as a bridge between traditional and cryptographic economies.”
The European country can now be considered as a pioneer in the future of banking hybrid, which consists on the coexistence of currencies based on blockchain technology and backed by the state.
A positive aspect for Germany is the development of the commerce system for the cryptography trade, which is expected to be launched in the first half of 2019. To achieve this, they have the support of SolarisBank, especially for the design of the system and necessary cryptography banking services.
M.Pino
Source: Infocoin
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