The Neobank Bitwala from Germany has reportedly rolled out a new Bitcoin Interest Account feature, with a 4.3% interest rates, following a new collaboration with crypto lending firm Celsius Network. 

Specifically, 80,000 current clients of the bank will have the ability to buy, store, and generate interest on Bitcoin (BTC) in their bank accounts. 

Bitwala will reportedly become the first classic fiat bank to provide interest for Bitcoin storage in bank accounts, with the same kind of products are also available from three other different DeFi DApps. 

While the DeFi ones have a higher rate, around 8,6% yearly, Bitwala has a better regulation, along with having fiat and crypto services available across 32 different nations in the EU, all licensed by leading German bank SolarisBank AG.

Clients will reportedly be able to keep, with the minimum amount of 30 Euro, Bitcoin in the free Bitcoin Interest Account, and receive interest payouts on a weekly basis. The store Bitcoin is reportedly lent out via the Celsius Network to ‘trusted partners’, with immediate conversion to Euros. 

“At this time, more and more people trust in Bitcoin. Bitwala is the everyday bridge to it. We are now partnering with Celsius Network, the world’s leading provider of crypto loans, so that our customers can leverage Bitcoin holdings wherever they are” Ben Jones – head of Bitwala – has reportedly mentioned the Bitcoin halving as a reminder that “state money (fiat) cannot be inflated eternally”.