Dutch Bank is testing BTC wallet

Being a company located in Rotterdam, AirdropAlert is, of course, happy to contribute to the Dutch economy that embraces Bitcoin… or does it?

By December 2018, almost 0.5 million Dutch people were storing some kind of crypto. Seemingly, ABN AMRO, one of top 3 banks in the Netherlands, took that into consideration.

In the end of this January, the financial institution announced the news.

The bank confirmed that they were testing a project of their crypto wallet, Wallie. 

In particular, 500 account holders received the invitation to take part in the testing process.

“Hey! Yes, we did! Have you already received the message? At the moment, we’re running a pilot with 500 clients”

It’s interesting to note, the bank’s official confirmation was posted in response to one of the tweets where a user shared the screenshot with the wallet.

According to the screenshot the user posted, ABN AMRO’s Wallie is safe, trustworthy and user-friendly. In other words, it secures the client’s funds up to €6,000 and provides you with the easy-to-access overview of the Bitcoin balance.

That is to say, whatever the bank’s bitcoin wallet looks like, it’s important to acknowledge the following fact.

The ABN AMRO case, in fact, demonstrates a significant trend.

Traditional financial institutions are striving to find their place in conditions of the rapidly evolving financial landscape.

Hello Sjors. At the moment, we’re mainly investigating and testing our possible role in the crypto economy. On top of that, we are in conversation with AFM (the Netherlands Authority for the Financial Markets) and DNB (De Nederlandsche Bank), to determine what will be important for the consumers in that regard.

Nevertheless, the official announcement on the bank’s page clarifies that you can not invest in bitcoins or other cryptocurrencies at ABN AMRO.  Specifically because they are not controlled, issued or secured by a central bank.  

For a Dutch bank, however, this is not the first attempt to provide direct Bitcoin tools for their consumers. As an illustration, in February last year, Rabobank was testing a similar project, Rabobit, but never passed it on to their consumers.

Therefore, the question remains, will ABN AMRO succeed and beat off the competition? Or will their project slowly fade out, in the same vein as Rabobit?

Want to read more Airdrop & crypto updates like this? Make sure to follow us on Twitter: https://twitter.com/airdropalertcom

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