One of the key features of many of these neobanks is the ability to buy and sell cryptocurrencies such as Bitcoin and Ethereum directly through their banking apps.
Wyre, a crypto payments has reportedly informed its employees that it will be shutting down in January 2023.
German digital bank N26 surveyed 16,030 people from its 5 largest markets in Europe – Austria, France, Germany, Italy and Spain.
Digital bank Revolut has used bitcoin to pay for office rent in the United States to show how the company perceives the world of cryptocurrencies.
The company has 850,000 customers across its different businesses and is on track to be profitable for the full year in 2023, the first time since its founding 17 years ago.
As interest rates remain high, borrowing will continue to play a significant role in helping these businesses achieve their goals.