Nuri (company)
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| Founded | 2015 |
|---|---|
| Headquarters | Berlin, Germany |
| Area served | European Union |
| Created by | Jörg von Minckwitz, Jan Goslicki, Benjamin P. Jones |
| Industry | Financial Services |
| Employees | 200+ |
| URL | bitwala.com |
| Current status | Active (redirect to bitwala.com/) |
Bitwala (formerly known as Nuri) is a blockchain banking service, headquartered in Berlin, Germany, that was founded by Jörg von Minckwitz, Jan Goslicki, and Benjamin P. Jones in October 2015.
Bitwala's concept first emerged in October 2015 when its founders Jörg von Minckwitz, Jan Goslicki, and Benjamin P. Jones launched operations for a global blockchain-based payment service provider headquartered in Berlin, Germany. According to Wired,[1] in contrast to other money transfer services like Western Union, Money Gram, and Transferwise, the German startup utilised digital currency to offer a much faster and cheaper solution.[citation needed ]
During Bitwala's formerly hosted a product with a global reach. Their services enabled SEPA and SWIFT money transfers by exchanging Bitcoin or Altcoins to over 20 fiat currencies to any bank account in over 200 countries worldwide.[2]
In January 2018, Bitwala stopped their services when their prepaid card provider, WaveCrest Holdings LTD, had its VISA license withdrawn due to compliance issues.[3] The company was amongst many cryptocurrency service providers including CryptoPay, TenX and Wirex that could no longer sustain their full product offering.[4]
Bitwala joined European Fintech Alliance in August 2018.[5] The company launched their new website in October 2018, which coincided with the announcement of their partnership with solarisBank, a Berlin-based white label bank.[6]
In September 2018, Bitwala raised 4 million Euro from venture capital investors Earlybird and Coparion, enabling them to proceed with their re-launch in November 2018.[7] In December 2018 Bitwala launched Europe's first regulated blockchain banking solution that enables users to manage both their Bitcoin and Euro deposits in one place with the safety and convenience of a German bank account. The bank account is hosted by the Berlin-based Solarisbank.[citation needed ]
Bitwala rebranded in May 2021 and changed their name to Nuri.[8] [9]
Nuri filed for insolvency on Tuesday, August 9, 2022. Their press-release states that users funds and investments are safe at their partner bank, Solarisbank.[10] [non-primary source needed ]
As of December 2023, Nuri is back active under the Bitwala name.[citation needed ]
References
[edit ]- ^ "Wie Berliner Gründer euch mit der Blockchain bei Überweisungen ins Ausland helfen" (in German). 2016年04月16日. Retrieved 2018年10月09日.
- ^ "The booming Bitcoin business", Deutsche Welle , 2017年03月07日, retrieved 2018年09月12日
- ^ Kelly, Jemima (10 December 2018). "Gibraltar slaps 250ドルk fine on WaveCrest; CEO stands down". Financial Times.
- ^ "Some cryptocurrency-backed debit cards dropped from Visa network, leaving users scrambling". 2018年01月05日. Retrieved 2018年08月05日.
- ^ "Bitwala joins European Fintech Alliance". The Fintech Times. 2018年08月07日. Retrieved 2018年08月07日.
- ^ "Blockchain-Bankkonto Bitwala startet Mitte November". IT-Finanzmagazin (in German). 2018年10月09日. Retrieved 2018年10月08日.
- ^ "Bitwala to launch blockchain banking in Germany after 4ドルm fund raising". Finextra Research. 2018年09月25日. Retrieved 2018年10月02日.
- ^ Köln, Nils Wischmeyer (2018). "Bank mit Kette". sueddeutsche.de (in German). ISSN 0174-4917 . Retrieved 2019年04月29日.
- ^ "Bitwala rebrands as Nuri". Finextra Research. 19 May 2021. Retrieved 19 September 2022.
- ^ "Nuri filed for insolvency on Tuesday, August 9th, 2022" . Retrieved 2022年08月10日.