Bitwala launches first cryptocurrency Bank

Bitwala launches first cryptocurrency Bank

German blockchain company specializing in the provision of payment services, Bitwala announced the launch of a new service for German customers.

The service includes the creation account, international Bank account number (IBAN), all SWIFT code and the provision tied to the account debit cards MasterCard.

Currently the company is awaiting review of its application to the Federal financial supervision authority of Germany (BaFin) for approval of the project. Bitwala notes that customer deposits amount to € 100,000 will be insured.

The service, called “blockchain banking”, and is a complete package to convert almost any cryptocurrency transactions. Thanks to the integration of Bank accounts service provides the possibility of regular Bank transfers and credit cards.

This is the second attempt Bitwala to offer debit cards for cryptocurrency. The previous attempt was not successful due to the fact that Visa has stopped working with the provider debit card Wavecrest. Then affected virtually all services that provide cryptocurrency payment cards, and Swiss startup Volines was forced to cease its activities.

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