Rabobank: Abandons cryptocurrency wallet plans

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Rabobank: Abandons cryptocurrency wallet plans

Rabobank: The Dutch bank, abandons cryptocurrency wallet plans

  • Rabobank has ditched plans to launch a cryptocurrency wallet, citing, among other issues, the regulatory environment
  • It explored the launch of a wallet – dubbed Rabobit – where customers could hold the likes of Bitcoin
  • Part of Rabobank’s Moonshot program, the project has failed to reach escape velocity
  • The wallet is on ice, in part because Dutch authorities recommend regulations of cryptos at an international level
  • The bank will keep tabs on the market and regulatory environment
  • Which has also decided not to proceed with a similar crypto wallet play