With Bitwala, the European Fintech Alliance (EFA) welcomes a new innovative player among its members. EFA now represents 26 members from 6 countries across the European Union.
The EFA is proud to announce the admission of another blockchain-powered and highly innovative fintech from the banking sector. With Bitwala, the EFA now represents 26 fintechs from six European countries. The increase in membership demonstrates the growing importance of the fintech sector as a whole as a rising number of companies recognise that it is crucial to be involved in the policy process at the European level.
“Innovation in financial technology, if not dwarfed by regulatory discrepancies and redundancies that still exist, is easy to scale across all member states. It is therefore a potential hotbed for start-ups and SMEs to grow and become future pan-European champions,” Roman Kessler, Co-Chair of the EFA said. “The advent of blockchain and distributed ledger technologies (DLT) is a powerful case in point. We are very happy that Bitwala is joining the EFA to address regulatory challenges in this new field and maintain both entrepreneurial liberty and the EU’s high regulatory standards.”
Only weeks away from launching, Germany-based Bitwala strives to revolutionise online banking and trading driven by blockchain. Clients will be enabled to trade Bitcoin and other cryptocurrencies directly from their bank account, which Bitwala will provide users in close cooperation with a partner bank. Furthermore, Bitwala will offer Debit Cards.
“Some of the best-known Blockchain companies are domiciled in the EU and need consistent and harmonised regulation to pave the way for growth and innovation. It is a great advantage for both the fintech and crypto industries to give room for a progressive EU policy debate through a forum such as the EFA. We join the alliance to share knowledge and maintain dialogue with key decision makers”, said Bitwala’s CEO Joerg von Minckwitz.