Company Information

Get to know Bitwala

Founded in 2015, Bitwala was a blockchain banking service headquartered in Berlin, Germany. Its mission was to bridge the gap between traditional finance and the cryptocurrency world. The company offered a unique product: a German bank account, managed by their partner solarisBank AG, that was directly connected to a cryptocurrency wallet, allowing users to buy, sell, and store Bitcoin and Ethereum directly from their bank account and manage funds using a debit card. In May 2021, Bitwala rebranded to Nuri to reflect a broader vision for a new financial reality. However, Nuri filed for insolvency in August 2022 and officially ceased all operations and closed its business on December 18, 2022.

Industry

Crypto BrokerPRIMARY
Financial Other Service

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Bitwala

Germany

Founded in

2023 (3 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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--/40

Reviews

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Markets.com

(326 reviews)

United States

2008

(18 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.