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Numbrs Transforms to Bitcoin Storage Vault Citing Tough Fintech Rules

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Bags from bitcoin isolated on a white background.

Swiss FinTech startup, Numbrs, has rebranded into a bitcoin storage vault faulting traditional banks and a tough fintech environment.

Source: Finbold

BTCUSD is down -0.75%

Numbrs CEO, Fynn Kreuz, blames banks and mobile banking regulations for adversely affected third-party service providers.

The fintech firm has also relocated its head offices from Zurich to Zug’s ‘crypto valley, with most of its staff operating remotely from various locations.

Numbrs has also turned an army alpine bunker into a data storage center as it positions itself to benefit from Switzerland’s linen cryptocurrency rules.

Numbrs app gives users ownership of their private keys and provides them with direct assess to their bitcoin.

The firm, which has been termed as a rare swiss fintech unicorn, has a market capitalization of more than CHF1 billion, equivalent to $1.091 billion.

The announcement comes as an increasing number of financial service companies show interest in cryptocurrencies. N26 recently announced that it was working on a crypto trading business.

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