Bitwala / Nuri Card
Bitwala (Nuri) · Visa
Bitwala (later Nuri) was a German crypto neobank founded in Berlin in 2015, offering an IBAN account, a Visa debit card and the ability to buy and hold Bitcoin and Ether, built on top of Solarisbank's banking licence. In May 2021 it rebranded to Nuri. DEFUNCT SERVICE: on 9 August 2022 the company filed for insolvency and by October 2022 it had ceased operations, transferring its customers to Vivid Money. It is NO LONGER operating in its original form and this entry is historical.
Data & conditions
| Account fee | — |
|---|---|
| Multi-currency | EUR |
| Network | Visa |
| ATM withdrawal | Free |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA · 31+ countries |
| Regulator | BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) |
| OAM Italy registration | No |
| Segment | B2C |
| Past incidents | May 2021: the company rebrands from Bitwala to Nuri, repositioning as a broader crypto neobank. · 9 August 2022: Nuri (formerly Bitwala) files for insolvency in Berlin, citing a lasting strain on liquidity worsened by the crypto bear market (Terra/Luna and Celsius collapses). · October 2022: the takeover bid fails, operations cease, and the customer base (around 250,000 users) is transferred to the neobank Vivid Money. |
| Funding / solidity | Bitwala GmbH (later Nuri), a crypto neobank founded in Berlin in 2015 and rebranded to Nuri in May 2021. On 9 August 2022 it filed for insolvency at the Berlin court over liquidity strain worsened by the crypto bear market; by October 2022 it had ceased operations, with around 250,000 customers transferred to Vivid Money. |
| MiCA / License status | Banking-as-a-Service via Solarisbank AG (BaFin) Account and card provided as Banking-as-a-Service by Solarisbank AG, a German bank with a full BaFin banking licence; Bitwala/Nuri operated as a front-end under the partner's regulatory coverage. |
Strengths
- German bank account with a real IBAN backed by Solarisbank (BaFin licence) and deposit protection up to EUR 100,000 on the fiat balance.
- Among the first in Europe to combine a bank account, a Visa card and a Bitcoin wallet in a single app, with 0% FX fee on euro payments within the EEA.
- Kept for documentary purposes.
Weaknesses
- Defunct service: insolvency in August 2022 and cessation of operations by October 2022; opening an account is no longer possible.
- Centralized custody and full KYC, with funds and operations dependent on a single banking partner.
- Costly crypto spending: around 1% fee plus a conversion spread when paying with the card.
- Closed or non-operational service.
Verdict
On paper the protection was solid: IBAN account and Visa card issued by Solarisbank AG (BaFin licence) with deposit insurance up to EUR 100,000 on the fiat balance. In practice, however, the service is DEFUNCT: in August 2022 the company (Nuri, formerly Bitwala) filed for insolvency and by October 2022 it had ceased operations, transferring customers to Vivid Money. It offers no protection today because it is no longer operating in the form assessed.
Fully custodial and centralized model: full KYC, with funds and operations dependent on a single banking partner (Solarisbank). The 2022 shutdown is concrete proof of counterparty risk: the issuer's insolvency wiped out the service and forced customers to migrate elsewhere. Very low sovereignty score.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Bitwala / Nuri still operating?
No. The company (Bitwala, renamed Nuri in 2021) filed for insolvency on 9 August 2022 and ceased operations in October 2022; customers were transferred to Vivid Money. This entry is historical and no new accounts can be opened.
Who provided Bitwala's bank account and card?
The IBAN account and Visa debit card were provided through Solarisbank AG, a German BaFin-licensed bank, while Bitwala GmbH (Berlin) ran the app, the Bitcoin/Ether wallet and the front-end.
Sources
- Official service page Regulator · Paesi num · Azienda info · Italia disponibile Data verified on Jun 23, 2026
- coindesk.com Past incidents Data verified on Jun 22, 2026
- decrypt.co Past incidents Data verified on Jun 22, 2026
- todey.xyz Payment network · Fx Data verified on Jun 22, 2026