In the last few months, how many times have you heard of cryptocurrency startups expanding their businesses? If you follow crypto-related news, you probably know the answer. Crypto startups are expanding. They’re starting new businesses, entering unknown territories, countries, and so on.
Sustainable mining startup Northern Bitcoin is also following this trend. The German startup today announced a new mobile wallet called Wallace, and they’re planning to promote it as an “interface to Bitcoin system”.
The Frankfurt-based company announced this new wallet through a press release. Wallace will be available as an app for both Android and iOS platforms, and the company plans to make it available by November. It’s already prepared for launch, they’re saying.
What makes it special? Users will be able to link it with a digital bank account, and they’ll also be able to see the value of their Bitcoins in various fiat currencies.
Initial availability in Germany only
Northern Bitcoin plans to make Wallace available in its home market Germany only. However, the Wallace brand has already been registered across Europe. Therefore, the availability in the whole of Europe shouldn’t take too long.
At this point, a question that comes to mind is: Can this wallet succeed in an already over-crowded market? Northern Bitcoin thinks so. Despite a large number of wallets already available in the market, they feel that they can make Wallace a success story. Here’s what Moritz Jäger, Technical Director (CTO) of of the company, said about it:
“Northern Bitcoin recognized the power of Bitcoin early on and is growing with it. The aim of our own wallet is to promote growth and expand the network by opening the door to the network for the general public. In particular, with our shareholder structure – our major shareholders include the owner of one of Europe’s largest out-of-home media groups – we are well-positioned to make Wallace a great success.”
Northern Bitcoin also said that it will store the private keys of customers in a highly-encrypted manner to protect their data. It will also eliminate the role of middlemen at the same time, it said, though it’s not clear how they plan to do that. Maybe we should wait until the availability of Wallace to learn more.
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