What’s next for cryptocurrency bank Bitwala?
Crypto’s gone mainstream and, for startup Bitwala, which allows people to invest directly in cryptocurrencies from their bank accounts, it’s meant users increased by nearly 50% across 2020. AdvertisementIts next task: can “the bank for the blockchain economy” convince customers that, beyond the high-risk highs of Bitcoin, it can offer customers safe, lower risk investment opportunities? With its interest account, crypto customers earn an average of 4% on their coins — which are handed over to London-based Celcius Network, a crypto loans provider. The need for more staff was highlighted across the last year, as Bitwala struggled with the influx of new customers. What goes up…In general, crypto becoming more mainstream makes it a surer investment, Jones says.