Bitwala CEO Dennis Daiber pitching the relaunch at 2023's Websummit in Lisbon (Bitwala.com)Bitwala CEO Dennis Daiber pitching the relaunch at 2023's Websummit in Lisbon (Bitwala.com)
  • Strategic investment opens Bitwala’s Made-in-Germany mobile Wallet App up to fund’s global partnerships
  • Bitwala gains traction in the Netherlands, France, and the Baltics

Berlin/Singapore — The Blockchain Founders Fund (BFF) invested in Bitwala, the Made-in-Germany mobile wallet app said Tuesday. Bitwala specializes in Bitcoin and Ethereum self-custody solutions and is renowned for its user-friendly instant trading app that charges a mere 1% fee. This strategic investment is not just a financial boost for the Berlin-based team, but may also be a gateway to global partnerships, expanding Bitwala’s reach beyond European borders.

Bitwala: A Phoenix Rising from Nuri’s Ashes

“As partners with Bitwala, we are excited about the potential this strategic investment brings to the forefront of crypto banking,” said Aly Madhavji at The Blockchain Founders Fund. “Bitwala’s vision aligns perfectly with our commitment to making blockchain more mainstream and accessible.”

Formerly known as Nuri, Bitwala faced a challenging period following the Celsius meltdown in the summer of 2022, leading to insolvency. However, under the new leadership of CEO Dennis Daiber and Goslicki, the company has made a remarkable turnaround. With the intellectual property of Nuri banking’s business acquired in collaboration with Claret Capital and several angel investors, Bitwala re-emerged in September 2023. Operating with a strategy to break even in 2025, Bitwala is available instantly to former Nuri customers in 29 European countries.

A Second Chance for Former Nuri Customers

Numbers from Apple’s App Store and the Google Play Store show that more than 150,000 former Nuri banking customers still have the mobile trading app installed. The strategic direction of Bitwala is clear – driving mainstream adoption of cryptocurrencies across Europe. With hotspots in the Netherlands, France, and the Baltics, Bitwala is making significant strides in making crypto trading accessible and affordable. The combination of low fees, a user-friendly platform, and robust security features positions Bitwala as a formidable player in the crypto trading space.

Bitwala’s Future: Global Partnerships and Growth

The infusion of capital and confidence from the Blockchain Founders Fund is more than just a financial lifeline. It opens doors to global partnerships, potentially catapulting Bitwala onto the world stage. This investment is not just about reviving a brand; it’s about scaling it to new heights, exploring untapped markets, and establishing Bitwala as a global name in cryptocurrency management.

News You Can Use:

Bitwala CEO Dennis Daiber will be speaking at a Berlin MeetUp on Thursday, February 22, and addressing the recently launched US-Bitcoin ETFs.

Conclusion

Bitwala’s journey from insolvency to a profitable growth trajectory is a testament to the resilience and potential of the crypto market. With the backing of the Blockchain Founders Fund and a clear vision for the future, Bitwala is well-positioned to capitalize on the growing interest in cryptocurrencies, both in Europe and globally. This strategic partnership marks a new chapter for Bitwala, one that promises innovation, expansion, and a stronger foothold in the world of digital finance.

By Lisa Luckas

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

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