Nuri filed for insolvency on August 9, 2022 and shut down completely in October 2022. Failed to raise funds or find an acquirer.
| Product Type | German Crypto Bank Account + Card |
| Former Name | Bitwala (until May 2021) |
| Banking Partner | Solarisbank (Germany) |
| Insolvency Filed | August 9, 2022 |
| Final Shutdown | October 2022 |
Nuri (formerly Bitwala) was a German fintech that offered full IBAN bank accounts with integrated Bitcoin and Ethereum trading. The service included a Visa debit card.
The company first faced challenges in January 2018 when WaveCrest lost its Visa license, forcing them to pause card operations. They recovered by partnering with Solarisbank.
In 2022, the crypto market downturn hit hard. Nuri cited the "tough economical & political environment" and couldn't secure new funding or find an acquirer.
German banking regulations provided some protection: fiat funds in the Solarisbank accounts were safe. However, crypto holdings needed to be transferred out before the shutdown.