Dutch bank Rabobank cancels plans to launch crypto wallet

23 May, 2019
by David Robb
Dutch bank Rabobank cancels plans to launch crypto wallet

Major Dutch bank Rabobank has decided that it will not be going forward with its plans for a crypto wallet. The bank's Rabobit project was first announced back in February 2018.

The Rabobit storage solution was intended to more effectively bridge the gap between Rabobank customers' bank accounts and their crypto wallets. This was to be part of the Rabobit Moonshots program, aimed at encouraging the development of innovative fintech products.

A spokesperson for Rabobank told TheNextWeb that after "careful consideration with our customers in mind we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation...We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications".

Another Dutch bank, ABN AMRO, recently confirmed that it would also not be going ahead with crypto wallet plans. Back in January, the bank had launched a market research scheme to gauge customer interest in crypto services, using an image of a BTC mobile wallet called 'Wallie', which initially led people to think that ABN was officially entering the crypto space.

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