German bank Bitwala will begin to pay up to 4.3% per annum on bitcoin deposits
Clients of the neobank Bitwala got the opportunity not only to purchase and store bitcoins in their accounts, but also to receive interest on their crypto-deposits in the form of interest.
The German Bitwala was the first fiat bank to offer the use of digital assets for passive earnings. The new product was the result of a neo-bank collaboration with the Celsius Network cryptocurrency lending platform.
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In addition to bitcoin deposits, Bitwala also offered its customers three more such products, which are decentralized financing applications with higher annual rates, up to 8.6%.
Neobank operates in 32 European countries under the license of SolarisBank AG, therefore its activities are regulated in accordance with German requirements.
Bitwala users can freely buy, store in a free account and convert it back at any time, but the minimum amount of cryptocurrency transactions cannot be less than € 30 euros.
Recall that due to increased quarantine in March, the Italian bank Banco Sella also began working with bitcoin.