Bitwala CEO Dennis Daiber pitching the relaunch at 2023's Websummit in Lisbon ( CEO Dennis Daiber pitching the relaunch at 2023's Websummit in Lisbon (
  • CryptoPunks Dennis Daiber, Jan Goslicki Join Forces with Christoph Jentsch
  • Bitwala’s GmbH Token: A German Participation Right as ERC20

(Mittweida, Germany) Two Berlin CryptoPunks just teamed up with Ethereum OG Christoph Jentsch to launch Bitwala Token on the Ethereum Mainnet. Out of Saxony, Jentsch is currently leading a venture introducing German participation rights in the form of Blockchain tokens to Europe’s biggest economy. Now, Bitwala GmbH revealed that it already issued some Bitwala tokens under German law and is targeting retail investors.

Bitwala, now named after the traditional Hawala trading system, used to be known as Nuri, the Berlin NeoBank. But Nuri was hit hard by the consequences of the bankruptcy of US-based crypto lender Celsius Network last summer. It ran out of money in summer 2022. A funding round failed, so insolvency proceedings were opened. More than 200,000 customers from more than 30 European countries had opened a Nuri account at the time, according to data confirmed by a German insolvency court. Around 50,000 monthly active customers manage their fiat and cryptocurrencies at the crypto NeoBank back then.

We believe that with the GmbH token, we have found a way to offer every interested small investor a “small slice of investment” in a form that is as decentralized as possible. It is really very convenient to make a token investment – the buyer only needs a wallet, a little ETH and USDC, as is usual in Web3, and can implement the investment with two or three clicks

Bitwala’s Daiber and Goslicki said in a recent founders’ interview published only in German

After 2023’s full-on reset, Bitwala is now looking for funding as it wants to scale its business. The mobile App is still installed on more than 150,000 Android and iOS gadgets and connects BTC and ETH wallet holdings worth more than €10 Million. Bitwala’s GmbH token, a first in Germany, represents a courageous step. It offers a profit participation in a limited company through an ERC20 token, but in the form of a private credit line.

Bitwala’s relaunch has resonated well in the European market. They have seen a notable increase in customers, especially from the Netherlands. Looking ahead, this partnership positions Bitwala for further growth in cryptocurrency and blockchain finance. Bitwala, with Tokenize.It GmbH’s expertise, is set to redefine the financial technology sector in Germany and beyond.

The mastermind behind the GmbH token is none other than Christoph Jentzsch. His contributions to Ethereum, especially from 2014 to 2015, have been transformative. Jentzsch is renowned for his role in developing The DAO. This project was a key factor in Ethereum’s network split in 2016. His involvement has significantly influenced the blockchain landscape.

By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

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