Online bank WB21 adds bitcoin deposit option

Now Accepting | June 16, 2016 By:

WB21 has announced that it will be the first digital bank to accept deposits in bitcoin.

WB21 will be using BitPay, Inc. as its payment processor, and it is likely that customers will be able to deposit Bitcoin into their WB21 accounts with zero confirmations meaning they will be able to access their deposits immediately.

“By accepting bitcoin, our customers can instantly transfer funds to their WB21 account from any country in the world. As soon as they send bitcoin to our address, we credit the value in the currency the customer has selected to their checking account. The funds are instantly available on the account and can be sent out by wire transfers or spent with a WB21 Debit Card. The process to convert bitcoin into cash on a bank account is the fastest I am aware of. For us the acceptance of Bitcoin is a great way to support our global roll-out and improve customers fund depositing experience,” said WB21 founder and CEO Michael Gastauer.

WB21 is a London-based digital bank with an office in Palo Alto, CA that provides online deposits and payments, including cheap cross-border payments which has 650,000 customers dealing in 18 currencies and is available in 180 countries.