Rabobank Drops the Idea of Creating Its Own Cryptocurrency

May 25, 2019 06:00&nbspUTC

| Updated:

May 25, 2019 at 06:06&nbspUTC

By&nbspKapil Gauhar

Based out of The Netherlands, Rabobank has decided to drop its idea of creating Rabobit, its own native cryptocurrency. The bank had announced their plans of creating such currency in February 2018. Once looking at closing the gap between cryptocurrency wallets and banks, the bank has taken this decision after exploring the field for more than a year.

As indicated by a report from Hard Fork, a spokesperson from the bank stated –

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation.”

Their ideas of creating a native cryptocurrency was a part of the Rabobank…

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