RATE Group | Bitwala begins offering Bitcoin accounts with a 4.3% interest
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Bitwala begins offering Bitcoin accounts with a 4.3% interest

15 May Bitwala begins offering Bitcoin accounts with a 4.3% interest

Posted at 00:55h in Bitcoin News by

  • Bitwala partnered with Celsius Network to introduce this product.
  • Clients can open Bitcoin interest accounts with as little £26.52 worth of BTC.
  • Through this launch, Bitwala has become the only neobank that offers Bitcoin interest accounts.

Bitwala, a German neobank has introduced a Bitcoin Interest Account product. A report unveiled this news on May 14, noting that this product will let the bank’s 80,000 clients purchase, hold, and earn interests of up to 4.3% on BTC. Per the publication, the bank joined hands with Celsius Network, a crypto lending platform to launch this product.

Reportedly, this move makes Bitwala the first classic bank to pay its clients for holding BTC. As such, the bank has joined three other decentralized finance (DeFi) apps that are currently offering similar products. Bitwala is widely regulated and offers fiat and crypto services in 32 European countries. The bank also has a license from SolarisBank AG, a leading German bank. These two facts…

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