Netherlands-based Rabobank Steps Away from its Crypto Wallet Program

Dutch bank Rabobank that announced its plan to create a cryptocurrency wallet Rabobit in March last year is now stepping away from its plan due to the hindrance faced by the uncertain crypto regulations in the Netherlands. This according to The Next Web, May 23, 2019.

Not the Right Time

Soon after the announcement of the Dutch bank ABN AMRO backing out from its plan to create its cryptocurrency wallet “Wallie,” we’ve circled back to a similar situation. This time, it’s Rabobank, another major Dutch bank that had announced its plan to create a cryptocurrency wallet “Rabobit” in March 2018.

The wallet, they announced, was a part of the Rabobank Moonshot program that was directed towards encouraging innovation in the fintech industry. It was also an approach to bridging…

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