Digital Banking

German bank launches bitcoin cold wallet solution

May 6, 2022

Raiffeisen Volksbank Bayern Mitte, a German bank, recently partnered with the Austria State Printing House to deliver a bitcoin cold wallet. All of its customers can now buy and trade bitcoin through online banking and store bitcoin on the cold wallet, which is called VR-BitcoinGoCard, according to a press release.

The cold wallets are protected by UV printing and a high security film. Users can also check on their cold wallet via a smartphone app.

"Our cold wallet has the shape of a common credit card and is manufactured in the specially protected high security area of OSD — the same high-security area in which Austrian passports, driver's licenses and other high-security documents are produced," Lukas Praml, managing director, Austria State Printing House, said in the release. "All of our staff at OSD are constantly subjected to security checks. Nobody, not even our staff, have any insight into the central part of the cold wallet, the so-called 'private key.'"