Austrian bitcoin platform 21bitcoin said it has started paying 1.21% annual interest on customers’ uninvested euro balances, effective immediately. Users can choose to receive that interest in BTC, and the company said no conversion fee will be charged. According to 21bitcoin, the offer applies to all euros held in an account, including funds waiting for the next scheduled savings-plan purchase and money reserved for unfilled limit orders. There is no minimum deposit requirement and no lock-up period.
The company said the interest is paid by Germany’s Volksbank Raiffeisenbank Bayern Mitte eG, which has held an equity stake in 21bitcoin since 2023. Customer euros are kept as demand savings deposits in segregated trust accounts at the bank, and 21bitcoin said it passes the full interest amount on to users without retaining any spread. The rate is variable, and the interest is subject to German withholding tax. The launch follows the company’s earlier rollout this year of a zero-fee bitcoin savings plan. Founded in 2021, 21bitcoin said it holds an Austrian MiCAR license and authorization from Germany’s BaFin, with more than 100,000 users and over 650 million euros in trading volume.
According to ChainCatcher, Austrian bitcoin platform 21bitcoin said it will begin paying 1.21% annual interest on customers’ uninvested euro balances starting today. Customers can also choose to receive the interest in BTC, with no conversion fee charged.
21bitcoin said it is the first service provider in Europe to pay savings interest directly in bitcoin. The interest applies to all euros held in an account, including funds waiting for the next purchase under a savings plan and money reserved for unfilled limit orders. There is no minimum deposit requirement, and no lock-up period applies.
The company said the interest is paid by Germany’s Volksbank Raiffeisenbank Bayern Mitte eG. The bank has held a stake in 21bitcoin since 2023. Customer euro balances are stored as demand savings deposits in segregated trust accounts at the bank, and 21bitcoin said it passes the full interest through to customers without keeping any interest spread.
21bitcoin added that the rate is variable and that the interest is subject to German withholding tax. The launch comes after the company introduced a zero-fee bitcoin savings plan earlier this year.
Founded in 2021, 21bitcoin said it holds an Austrian MiCAR license and authorization from Germany’s Federal Financial Supervisory Authority, or BaFin. The company reported more than 100,000 users and more than 650 million euros in trading volume.
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