Users of German neobank Bitwala can now purchase, hold and earn interest on Bitcoin (BTC) in their bank accounts due to new partnership with cryptocurrency lending platform Celsius Network.
Defiprime.com reveals that Bitwala is the first fiat bank to offer interest for holding Bitcoin in their account, with three other DeFi DApps offering similar products.
Dear Celsians, meet @Bitwala – the latest Partnership of @CelsiusNetwork ‼️ – introducing their 🔥🔥 #Bitcoin Interest Account 🔥🔥#UnBankYourself @Mashinsky@coinkit_ mon 250 1500 #BTC https://t.co/dqX3Upry7N — Celsians (@Celsians) May 13, 2020
Bitwala is regulated and offers fiat and cryptocurrency services in 32 European countries under license from leading German bank SolarisBank AG.
Users can buy as little as 30 Euro worth of Bitcoin and hold it in the free Bitcoin Interest Account while receive interest payouts weekly.
The Bitcoin in the accounts is lent out through the Celsius Network to ‘trusted partners. Funds can be converted back to Euros immediately.
Say hello to the Bitcoin Interest Account. The new way to generate wealth. Earn up to 4% interest just by HODLing your bitcoin. 🍃 Now available inside the Bitwala app.https://t.co/g0YMwetGkj — bitwala (@bitwala) May 13, 2020
In a statement, Bitwala CEO Ben Jones referred to the Bitcoin halving as a reminder that “state money (fiat) cannot be inflated eternally”:
“At this time, more and more people trust in Bitcoin. Bitwala is the everyday bridge to it. We are now partnering with Celsius Network, the world’s leading provider of crypto loans, so that our customers can leverage Bitcoin holdings wherever they are”
Source: Cointelegraph | Image: Unsplash