• Bitwala, the popular European mobile app that helps people in 30 countries to live on Bitcoin and Ethereum, sells German participation rights (“Genussrechte”) in the form of $BWALA ERC20 tokens on Gnosis Chain and Ethereum main net.
• The limited public sale values Bitwala at EUR 15 million, the proceeds will be used to invest in scaling its successful business model, further integrating Bitcoin Layer 2 solutions, and ensuring the safety and privacy of its users with a self-developed MPC wallet.
• The BWALA token is the next step in democratizing ownership of critical and needed crypto infrastructure, removing the separation between shareholders, employees, and customers.
• A first tranche of the BWALA token will be made available to Bitwala’s customers for a limited time, before entering the public sale at the same conditions Bitwala offers to interested VCs for its current Seed Round.

Bitwala’s popular Made-in-Germany mobile wallet app to manage Bitcoin and Ethereum only, is set to pioneer German startup financing with the issuance of participation rights

(“Genussrechte”) under German law, represented by $BWALA ERC20 tokens on the Ethereum mainnet.

Each token represents exactly one share of Bitwala GmbH at a current valuation of EUR 15 million, including profit distributions and exit participation rights.

$BWALA tokens can be managed in self-custody

A limited volume is available to customers first for individual investments of up to EUR 25,000. Participation is possible via EUR transfer. For accredited investors and amounts exceeding 25,000 EUR, an Ethereum main-net private sale of $BWALA is available on request via EUR, BTC, ETH and USDC.

The issuance of the ERC20 tokens happens under the German liability umbrella of Concedus GmbH and is facilitated by Tokenize.it, a venture launched by Ethereum developer Christoph Jentsch. The $BWALA tokens can be managed in self-custody using a compatible wallet such as Metamask – and soon the Bitwala app itself.

“Our low-fee mobile app speaks to an increasingly interesting target group of bitcoin users, who self-manage their daily crypto finances in Bitcoin across Europe. Our VISA Debit Card allows them to spend

Bitcoin without retailers having to worry about conversion, fulfilling the promise of Bitcoin as a means of not only savings, but also payments”, Bitwala CEO and co-founder Dennis Daiber said.

Bitwala’s instant trading app with only a 1% transaction fee drives mainstream crypto adoption across Europe with hotspots in Spain, the Netherlands, France, and the Baltics.

Proceeds earmarked for ambitious roadmap

“We will use the proceeds of the $BWALA sale to further scale our business, integrate new features for Bitcoin users, as well as to enhance our unique selling point: safety and convenience, trusted by experts,” states Jan Goslicki, co-founder of Bitwala. “Our customers are keen on buying, trading, saving, and paying in crypto every day.”

Bitwala selected for CryptoKnights

Bitwala also recently shared that it has been selected to participate in the inaugural season of CryptoKnights, a crypto-focussed reality TV show similar to Shark Tank or Lion’s Den, dedicated to showcasing promising Web3 projects, which is scheduled to air later in 2024.