[Crypto Community Confirmed] Third-Largest Dutch Bank Official Testing Its Own Wallie Bitcoin Wallet
Amsterdam-headquartered ABN AMRO Bank has created its own Bitcoin wallet named Wallie. This initiative of the third-largest bank in the Netherlands is currently being tested at a small-scale with 500 customers. If this test becomes a success, the app will be further developed and then rolled out.
According to the invitation sent out to the random users, the bank states,
“We have started with the development of Wallie; a crypto wallet that easily and carefree cryptos can be stored. The first version of the wallet is suitable for bitcoins and we are happy to give you the opportunity to use it!”
Dutch only: ABN AMRO Bank testing bitcoin wallet!!
Wallie – het is de naam van ABN AMRO's eigen Bitcoin-wallet. Op dit moment loopt een kleinschalige test onder 500 klanten. Als de proef een succes is, wordt de app verder ontwikkeld en uitgerold. https://t.co/JbLaHVjFz1
— ⚡DMN737 ₿ (@DMN737) January 22, 2019
As for why Wallie,
“ABN AMRO notes that more and more customers are investing in this. Research shows that a portion of these customers has concerns about the safety of storage, they hear a lot about hacks and exchanges and getting rid of codes. We want to be a trusted partner in this.”
The screenshot of the app shared by the Dutch publication is,
This is the iOS version of the Wallie that has the basic wallet functions of sending and receiving Bitcoin along with check balances and addresses.
This is further confirmed by the bank as one Twitter user asked the bank if they are really working on its own Bitcoin wallet, The rough translation of the ABN AMRO bank is,
“Yes! We are currently doing an experiment with 500 customers.”
The bank is currently exploring the role it can play in the crypto sector, where“This is a first cautious step.” The launch of Wallie got the conversation starting as ABN AMRO replied on Twitter:
“At the moment, we are mainly investigating and scanning what role we can play in the crypto economy. In doing so, we have a lot of consultations with the AFM and DNB to establish together what is important for consumers.”
The experiment is to further find out if the use of such application can benefit from both the sides, that is banks and customers to this. If that is the case, the bank is open for that as well as it says, “We are indeed starting with a small experiment. If you like it from both sides, the chances are that WA will be further developed for our customers!”
To test the app, 500 customers are selected on a random basis that will last for 4 weeks,
“Unfortunately there is not yet a webpage about WA online, the Experiment is for a duration of 4 weeks. Depending on the results, it will come or not.”
The invitation sent to the users’ further talks about the advancement cryptos has made further leading to Wallie decision,
“Cryptos have made a big advance. Many consumers have stepped in, including ABN AMRO customers. To help our customers with safe and secure storage for their Bitcoins we have started with the development of Wallie.”
The Dutch publication reported that the wallet is integrated with ABN’s Mobile Banking app where “the value is insured (up to an amount of € 6,000).” There's still a lot unknown if the test application is in its infancy stage or already developed and if additional services like crypto custody will be involved.