Clients of the Bitwala neobank got the opportunity not only to purchase and store bitcoins in their accounts, but also to receive income from their crypto deposits in the form of interest.
German Bitwala became the first fiat bank to offer the use of digital assets for passive earnings. The new product is the result of cooperation between Neobank and the Celsius Network cryptocurrency lending platform.
In addition to Bitcoin deposits, Bitwala also offered its customers three more similar products, which are decentralized financing applications with higher annual rates, up to 8.6%.
Neobank operates in 32 European countries under the SolarisBank AG license, therefore its activities are regulated in accordance with German requirements.
Bitwala users are free to buy, store in a free account and convert it back at any time, but the minimum amount of cryptocurrency transactions cannot be less €€ 30.
Recall that due to the increased quarantine since March, the Italian bank Banco Sella also began working with bitcoin.
text: Ivan Malichenko, photo: cryptocurrency.tech
Bank of England management fears that private stablecoins will become more in demand than CBDC
Italian banks want to experience the digital euro
Europol closes the cryptocurrency mixing service with a turnover of $ 200 million
Bakkt starts testing bitcoin futures