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Advanced Bitcoin terminates cooperation with Wirecard Bank and discontinues savings app savedroid

Advanced Bitcoin Technologies ends its activities in the area of ​​the savings app “savedroid – save yourself happy!”. This is justified with a strategic refocusing of the company on building a new multi-currency transaction platform. “As a financial technology provider, ABT is pursuing the vision of a platform that enables business and private customers to receive, store, exchange and transfer international fiat, crypto and digital currencies easily, securely, quickly and inexpensively as part of payment transactions send ”, said Advanced Bitcoin Technologies on Thursday.

The company expects savings of 0.2 million euros per year from the termination of savedroid, but also one-off depreciation between 0.8 million euros and 1.2 million euros.

Due to the discontinuation of the app, Advanced Bitcoin Technologies is also ending its collaboration with Wirecard Bank. According to the company, app users will be offered a savedroid Mastercard GOLD in cooperation with Advanzia Bank.

“As part of the strategic realignment, the company’s executive board will also be reduced from four to three members. Therefore the management board service contract with Mr. Christian Lang will not be extended ”, so the company.

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