A new fintech startup from Germany named Bitwala is in the latest Bitcoin news for allegedly launching the first-ever platform that will allow users to manage euro deposits and Bitcoin funds within the same bank account.
The system has been designed by the fintech startup and is expected to launch by November – with an estimated number of 30,000 customers who already signed up for the service. The first initial investor for the service is Earlybird Venture Capital, a company that is providing funds worth 4 million Euros.
Meanwhile, Bitwala was founded in 2015 as a company specializing in financial services and enhancing the value exchange between customers in an efficient and cost-effective system. With the new regulated blockchain service, the company is fulfilling its original goals which center around the smooth transition between the cryptocurrency and legacy financial system.
The crypto-fiat service, as such, is designed to provide users with the benefit of accessing the services of a German bank account, provided with Bitwala’s banking partner, offering SEPA debit and credit transactions, a debit card and ease in the management of recurring payments.
As the president of Bitwala GmbH, Jorg von Minckwitz, noted when announcing the new service:
“The cryptocurrency community is eagerly awaiting the launch of our new service. I’m very proud that with our new product we will close the gap between crypto and traditional banking and solve one of the biggest hurdles on the road to mainstream adoption,”
This is another big achievement for the blockchain industry towards the goal of achieving mainstream adoption and recognition.
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"We believe this thesis still remains intact which could mean seeing a break of the lows in the coming weeks. A 25% selloff in BTC from the current lows of $3,200 would be to roughly $2,400."He also shared that the next sell-off could be just what the crypto market needs in order to finally break the backs of the bears and reach a new bull momentum in 2019.
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“Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make it even easier for consumers to participate in this dynamic new economy.”Coinstar, on the other hand, offers coin-to-cash conversion in their kiosks in multiple countries around the world but it still remains unknown whether the Bitcoin feature will expand just as quickly as it did in the US. Coinstar’s CEO Jim Gaherty noted: Coinstar offers coin-to-cash conversion kiosks in various countries throughout the world. It remains unknown whether the Bitcoin feature will expand beyond the U.S., while the company did not provide figures on how many machines will offer it.
“Coinstar is always looking for new ways to offer value to our consumers when they visit our kiosks.’’According to CoinATMRadar industry monitoring resource, there are more than 4187 Bitcoin ATMs worldwide and more than 60 percent or 2516 are in the United States. The market has grown plenty over the years and many operators are trying to get control of what they think to become a fairly popular trend for crypto usage.
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