Blockchain banking service provider and also popular as Europe’s first-ever Bitcoin bank, Bitwala, is expanding its scope and size of services by including Ether trading, the second most extensive cryptocurrency operating on Ethereum network.
Offering world-class blockchain banking services, the German Bitcoin bank Bitwala has everything that a cryptocurrency trader typically needs. It’s a platform that merges fiat and cryptocurrency banking needs, enables buying and selling of crypto directly from your bank account along with a seamless cryptocurrency wallet and debit card. It is, as some claim, the future of banking.
Bitcoin bank Bitwala now boasts of Ether
Today, it is taking a step further expanding its network by including Ether trading, the only other crypto that the bank supports besides Bitcoin. A local German news outlet, t3N, confirmed the news today by stating that the futuristic bank’s decision to integrate Ether was primarily due to its significant role in driving the growth of decentralized finance (DeFi), a system that is slated to transform the face of traditional banking methods.
Ben Jones, Bitwala CEO and cofounder announces that by banking on Ether, we are opening up a number of possibilities through third-generation internet services, Web 3.0, a new paradigm based on machine learning and data-driven techniques.
DeFi sets out to remodel financial products like loans, debts, currencies, and assets by applying blockchain smart contracts and essentially making them more tradable, structured, and secure. Besides, decentralized apps (dApps) have already started to gain traction in the supply chain and financial services industry.
Bitwala’s unique selling proposition explained
Philipp Beer, Bitwala’s chief growth officer, sheds light on what sets Bitwala apart from other banks and cryptocurrency exchanges in the region. Bitwala combines the accessibility and convenience of a regular bank with a range of cryptocurrency trading options featuring Bitcoin, and from today Ethereum, he explains.
As far as exchanges are concerned, Beer asserts that Bitwala’s focus is mainly on accelerating the adoption rate of blockchain-based finance in Europe. Now, with its latest addition, it hopes to get as many Ether enthusiasts as possible.
Featured Image by Flickr