The British Strive Bank has launched the world’s first physical and child-friendly piggy bank connected to digital wallets.
Strive, a family-friendly Challenger bank from the UK, yesterday announced the launch of the world’s first physical and child-friendly crypto piggy bank. The piggy bank is connected to the Coinbase wallet, which parents can access via an app.
In a blog post Strive explained that the account balance of any crypto wallet can be displayed on the piggy bank. “With the app, parents can schedule crypto payments such as pocket money and monitor their child’s digital transactions“according to the company.
Strive assures users that both device and app and user data are completely secure thanks to 256-bit encryption. According to the company, children as young as five can use the piggy bank.
It’s called “Penny the Pig” and is designed to help children explore the world of cryptocurrencies in a safe and responsible way while learning about the future of money. Strive also wants to launch a mining version of the piggy bank to mine Bitcoin and other digital currencies.
Andrew Birt, managing director and co-founder of Strive, believes that children should be provided with financial skills and encouraged to invest responsibly from a young age, and that Penny the Pig is a major contributor.
“The crypto market will undoubtedly not just disappear again. Given that today around the globe cryptocurrencies worth 2 trillion US dollars (1.6 trillion euros) are stored in 68 million crypto wallets, it is surprising that there is still far too little material to inform children about digital currencies. That’s why we developed Penny the Pig – a simple, safe and responsible way to explore the world of cryptocurrencies and learn about the future of money“, castle Birt.
The company sells “Penny the Pig” at a price of 149 US dollars (124 euros). The crypto industry continues to innovate. By familiarizing children with crypto investments and the new asset class, the next generation will know about them from a young age.