Dutch bank ABN AMRO abandons cryptowallet project

The Dutch bank ABN AMRO decided to put aside the project Wallie, a platform for the storage of bitcoins that had been developing, it was known this Monday, May 20.

“We have come to the conclusion that cryptocurrencies due to their unregulated nature are currently too risky assets for our clients to invest in them,” confirmed Jarco de Swart, head of the Strategy, Corporate Affairs, Finance and Risk area. the press office of the bank mentioned by HardFork.

In spite of not having official announcements in this regard, last January an ABN AMRO spokesperson confirmed that they were developing a bitcoin custody service. This platform, Wallie, was already being tested by 500 customers of the bank.

The entity intended to be a “trusted partner” to mediate between its clients and cryptocurrencies. They then claimed the growing interest of their clientele to invest in cryptoactives.

Shortly before confirmation of Wallie’s development, another European bank, the Falcon Private Bank of Switzerland, had announced a cryptocurrency escrow service for other banks, adding to the wave of interest in cryptoactives.

Among the crypto communities there are those who do not see this type of initiative from the bank with very good eyes. Especially, considering that custody services contradict the view that each owner of cryptocurrencies is “your own bank”.

Source: Criptonoticias

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