Bitwala Returns: The Resurrection of Europe’s Cryptocurrency Banking Platform

The Comeback Story of Bitwala

Well folks, gather ’round! After a not-so-glamorous exit last year, Bitwala, which many of you may remember as Nuri (it’s fine, nobody’s judging), is making its grand return. Oh, the drama! The firm has partnered up with Striga, a banking infrastructure buddy, to relaunch its operations, fresh and ready to take on the cryptocurrency world once more.

A Lesson in Resilience

Bitwala’s journey has been more winding than a pretzel. Founded in Germany back in 2015, they tried to get the whole banking game down pat but hit major turbulence in August 2022. Liquidity issues, the kind that would make even a seasoned Wall Street broker sweat, forced them to file for insolvency. Their bankruptcy coincided unfortunately with the infamous crypto crash induced by the Terra meltdown. Talk about bad timing!

The Name Game

Here’s a fun little tidbit: they rebranded to Nuri in 2021 to, I guess, sound cooler? But after shuttering operations and returning customer funds — yes, all 500,000 users had to hastily withdraw their assets — they’re now donning the Bitwala name once again, somewhat like a phoenix rising from the ashes, only with fewer flames and more digital wallets.

The Power of Partnerships

Enter the superheroes of this narrative, Striga! Providing Bitwala with