LHV Bank develops wallet app built on bitcoin’s blockchainbr>
On Monday, June 8, Estonia’s LHV Bank announced that it has backed a project to create wallet app that will utilize bitcoin to facilitate transactions.
The Cuber Wallet app enables users to send and receive euros instantly and free of charge. The experimental system uses the bitcoin blockchain by way of colored coins, according to the bank.
“We hope Cuber can liberate innovation from organizational borders, truly decentralize it. And true innovation in the financial sector will flourish,” said Cuber CEO Rain Lõhmus.
The money transfer app is currently undergoing testing and is free for download on both Android and Apple devices, but currently comes with deposit restrictions. LHV is planning to undertake beta tests of the app sometime this fall.
LHV Bank is an Estonian banking and financial services company headquartered in Tallinn.