Over the last few months, we have been working hard with regulators and our partner bank to bring you the world’s first full crypto-friendly bank account. We are also the very first in Germany to have undergone this process. Merging banking and crypto has been a regulatory challenge which took some time, but we have managed to achieve it.
We are now in the final stages of development and have started testing our infrastructure, trading systems, and product as well as squaring away the last tasks on the regulatory and legal side.
We are pioneering crypto-first banking in Germany, and globally. As we are the first in the world, it was difficult for us to put an exact estimation behind it.
Launching a full banking experience, with deposit protection guarantee and built-in cryptocurrency trading, under a German license is a robust process. Nevertheless, we’ve already signed the contract with our partner bank.
Now our legal, compliance, and finance teams are currently finishing off the last topics needed before launch. We are proud to play an active role in shaping how crypto-banking is established.
What this means for you
You would have to wait a bit longer, but we are quite confident that you would enjoy our secure banking experience which will feel like second nature to you.
We have started the internal testing and refinement stage to ensure that we meet and exceed stringent quality and security standards before we publicly launch the all-new Bitwala accounts. Moreover, our beta phase will begin soon and those who have signed up will be contacted via email.
We will launch in November of this year and you will remain part of our journey every step of the way. Over the coming weeks, we’ll update you on the exact date.
To follow our progress join us on Facebook, Twitter, and YouTube or if you pop over to our usual hangout spot, Room 77, we can have a chat in person.
Ben, Jan & Jörg
The Bitwala Founders