Sony, a Japanese multinational, is among the main investors of an innovative financial startup: the Bitwala blockchain, which is based in Germany.
Bitwala to support its progress over time, has seen various rounds of financing, one of the last allowed him to collect well 14,5 million dollars, this is certainly the most important round for the German startup focused on the blockchain.
Among the investors, as we have mentioned, there is also the Sony Financial Ventures (affiliate company dedicated to innovative investments) and the NKB Group, both led the new financial increase, following the interest of the first investors who contributed half of the investment and among whom are the Coparion and the Earlybird.
All the funds raised by the German Start Up are used to grow the company's customer base package, to acquire new qualified staff and to be able to launch specific bitcoin accounts made for companies.
Biwala is a start up which offers a service based on cryptocurrencies which is similar, however, to banking, which is also integrated with a bitcoin wallet, a platform for trading options and a debit card.
Sony has decided to focus on this startup because it was the first to offer a banking service that combined the action of a current account with the possession of cryptocurrencies and online trading.
Specifically, Biwala allows its customers to perform a direct exchange of bitcoins simply from one bank account to another. Also, being a banking-like service the company already has a good number of customers present in all European countries, and since the launch of its service until last year, a bitcoin exchange of over 11 million euros has been made.
In addition, deposits up to 100 thousand euros of Biwala customers they are protected by the European guarantee system which allows a full reimbursement if the bank goes bankrupt.
The co-founder of Bitwala and CTO of StartUp stated that today we are a bridge for users who are interested in and passionate about cryptocurrencies and at the same time want to interact with the emerging ecosystem of the blockchain and the digital economy.
