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.
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.
“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.