International Dutch financial services provider, Rabobank Group, appears to be doing a test flight for a cryptocurrency wallet service, "Rabobit." The idea was selected as one of 22 potential innovations for the bank's internal Moonshot acceleration program.
Rabobank's accelerator allows employees to pitch ideas to better serve their public. "The best ideas are tested for interest among customers," explains the bank's website. The winning idea will be announced mid-June.
According to a statement on Rabobank's website, "The idea of Rabobit is a cryptocurrency wallet within the online banking environment," and "the employees who are currently investigating this initiative approach clients for this, both in person (street research) and via the website. In addition, they also investigate the risks associated with the use of cryptocurrencies."
A website for Rabobit is now live with, unfortunately, no indication that it's primarily meant to gauge public interest in the Moonshot program candidate. The site promises to offer users "insight into ... overall liquidity by having bank accounts and cryptocurrencies in one place." Not much more is revealed on the site beyond an option to "sign-up today," which does not seem to actually sign customers up for a service, only opts them in to potentially receive follow-up information via email. Signing up elicits a "Thank You" splash page.
Rabobank's approach to the digital space seems to be somewhat more hands-on than others, like investment banks J.P. Morgan and Goldman Sachs, or banking corporation Bank of America, each of which has reported that cryptocurrencies pose risks.
There is no official decision by Rabobank to introduce a Rabobit service, but if the project reaches escape velocity based on the bank's research, it stands a chance to become, ostensibly, the first bank-backed cryptocurrency wallet, meaning Rabobank could rocket its way into the crypto-leagues. Moonshot indeed.