{"id":65625,"date":"2022-08-10T16:52:26","date_gmt":"2022-08-10T13:52:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65625"},"modified":"2025-09-06T21:01:15","modified_gmt":"2025-09-06T18:01:15","slug":"german-crypto-bank-nuri-files-for-insolvency","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/german-crypto-bank-nuri-files-for-insolvency\/","title":{"rendered":"German crypto bank Nuri files for insolvency"},"content":{"rendered":"<p>The Germany-based fintech startup Nuri (formerly Bitwala), focused on cryptocurrencies, filed for insolvency. It served more than 500 thousand clients.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Nuri filed for insolvency on Tuesday, August 9th, 2022. This does not affect our services, customer funds or investments. You can find a complete statement of this situation on the Nuri Blog: <a href=\"https:\/\/t.co\/UgAyckWE7J\">https:\/\/t.co\/UgAyckWE7J<\/a><\/p>\n<p>\u2014 Nuri (@NuriBanking) <a href=\"https:\/\/twitter.com\/NuriBanking\/status\/1557049155893215232?ref_src=twsrc%5Etfw\">August 9, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abSignificant macroeconomic challenges and cooling capital markets have put persistent liquidity stress. \u2026 The crypto winter after the Terra crash, Celsius and a number of major funds,\u00bb<\/em> the company explained.<\/p>\n<\/blockquote>\n<p>The management said that the restructuring will not affect the services offered, client funds, investments, or the ability to withdraw assets.<\/p>\n<p>Nuri offered digital assets in partnership with Solarisbank. It outsourced fiat-payment processing and custody of cryptocurrencies thanks to its licenses. Thanks to the alliance, fintech-startup clients will not face problems typical for a number of companies like <a href=\"https:\/\/forklog.news\/sud-razreshil-voyager-digital-vernut-klientam-270-mln\/\"> Voyager Digital<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abThe temporary insolvency procedure does not affect deposits, crypto funds and Nuri Pot products,\u00bb<\/em> the statement said.<\/p>\n<\/blockquote>\n<p>Difficulties some users experienced withdrawing funds were attributed to high traffic. Client funds are safe, Nuri assured.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">We are currently experiencing high traffic and usage, leading to slower performance in our mobile app. Our team is working hard to improve performance. Please note that funds are safe and you can try to use the app at a later point of time \ud83d\ude4f\ud83c\udffb<\/p>\n<p>\u2014 Nuri (@NuriBanking) <a href=\"https:\/\/twitter.com\/NuriBanking\/status\/1557082754906558464?ref_src=twsrc%5Etfw\">August 9, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In July, the Thai bitcoin exchange Zipmex<a href=\"https:\/\/forklog.news\/bitkoin-birzha-zipmex-obratilas-v-sud-dlya-zashhity-ot-kreditorov\/\"> \u043e\u0431\u0440\u0430\u0442\u0438\u043b\u0430\u0441\u044c<\/a> for protection from creditors in court.<\/p>\n<p>Earlier, Kaiko analysts <a href=\"https:\/\/forklog.news\/v-kaiko-sprognozirovali-slozhnyj-period-dlya-kriptobirzh\/\">predicted the bankruptcy of some crypto exchanges<\/a> due to adverse market conditions, shrinking client activity and problems affecting several players in the industry.\u00a0<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In Germany-based fintech startup Nuri (formerly Bitwala), focused on cryptocurrencies, filed for insolvency. It served more than 500 thousand clients. Nuri filed for insolvency on Tuesday, August 9, 2022. This does not affect our services, customer funds or investments. You can find a complete statement of this situation on the Nuri Blog: https:\/\/t.co\/UgAyckWE7J<\/p>\n","protected":false},"author":1,"featured_media":65626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"German crypto bank Nuri files for insolvency; services and client funds reportedly unaffected.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1300,998,83],"class_list":["post-65625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bankruptcy","tag-bitwala","tag-business"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"German crypto bank Nuri files for insolvency; services and client funds reportedly unaffected.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65625"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65625\/revisions"}],"predecessor-version":[{"id":65627,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65625\/revisions\/65627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/65626"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}