This is the end of Savedroid

Nils Wischmeyer Nils Wischmeyer | 18.12.2020

The start-up "Advanced Bitcoin Technologies AG" is discontinuing its savings app. Originally, the company had started with it, but had gambled away many sympathies with a joke.

The shock came in April 2018, when Yassin Hankir and his start-up Savedroid had just raised €40 million via an ICO, the cryptocurrency equivalent of an IPO. The startup's app allowed customers to save micro amounts of money, and with the help of the new millions, a platform for trading cryptocurrencies should now be added.

It was big plans and investors had at least as high hopes in him and the Frankfurt fintech, when in April 2018 suddenly nothing went. The website? Offline. Over the phone? No one reachable. The office? Deserted. Hankir? Posted a photo of an airport. And the money? It appeared to be gone.

It wasn't until hours later that the Savedroid founder resurfaced, and with him the money. It had all been a joke, a large-scale PR stunt to draw attention to the dangers of crypto IPOs. But the joke clearly backfired, earning Hankir a veritable shitstorm from which the Frankfurt-based fintech only barely recovered.

Then in 2019, Hankir actually took its startup public once again with the help of a reverse takeover, officially to build confidence. Now there's news again from the parent company, which calls itself "Advanced Bitcoin Technologies AG,"

or ABT for short. The fintech is discontinuing its original app Savedroid entirely. The company made the announcement, citing business restructuring as the reason for the decision. "Discontinuing the Savedroid app is not a goodbye for us, but the start of the product rebuild towards a multi-currency wallet that combines the worlds of euros and bitcoin," said Hankir, chairman of the board of Advanced Bitcoin Technologies and founder of Savedroid.

In the future, the company plans to focus entirely on the big topic of blockchain and cryptocurrencies. Customers will soon be able to receive, store or exchange fiat currencies as well as crypto or digital currencies on the company's platform. The company will then make its money from transaction fees and from differences in the exchange rate between currencies, which it plans to exploit.


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Startup 2015 Frankfurt a. Main savedroid Specialized in artificial intelligence (AI) saving technology, which has geared up to democratize cryptocurrencies. It creates an AI fueled ecosystem of crypto saving and investing.

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