German neo bank Bitwala offers Bitcoin accounts with interest rates up to 4.3%.
According to Defiprime, Bitwala is the first traditional Fiat bank to offer BTC interest accounts. There are three decentralized alternatives that offer higher interest rates, but are not regulated like Bitwala, which offers Fiat and crypto services in 32 European countries licensed by the leading German bank SolarisBank AG.
Consumers can buy a BTC worth as much as $ 30 and keep it in an account with interest, which is paid on a weekly basis. The coins in this account are given as loans through the Celsius Network to ‘ trusted partners ‘.
The funds can be converted into euros instantly.
In a statement, Bitwala CEO Ben Jones said that Bitcoin’s halving reminded us that ‘ US (fiat) money cannot be subject to perpetual inflation ‘.
“At that time, more and more people trusted Bitcoin. Bitwala is [the most convenient] bridge to it. ”
Within the last 4 years, startups neo banks have been striving to become this bridge between fiat and crypto, but very few of them have secured a full banking license, and none of them has been able to offer a Bitcoin investment account.