Why is Nuri filing for insolvency?
The recent global and economic developments have put a strain on Nuri’s liquidity and have resulted in a need to restructure and stabilize the financial position of our company.
What will happen next?
Together with the Insolvency administrator, we will work out the next steps. The interests of our stakeholders and our customer base are to us of utmost importance.
What will happen to the Nuri App? Will I still be able to use it?
The Nuri application will remain available to you. Our team maintains the Nuri application as usual. As always, we are dedicated to making the banking, trading, and investing experience within our app as smooth and easy as possible.
Why should I keep my accounts with Nuri?
We remain dedicated to our vision of building the platform to build your wealth and financial future.
Insolvency is a needed measure, which enables us to restructure and futureproof the company.
We will do everything in our power to ensure our vision, as well as our products and services, continue to serve our current and future customers.
Are customer funds safe?
Yes, your funds are safe. The insolvency does not have a direct effect on your Euro or crypto funds or Nuri Pot investments.
Your Euro funds in your Nuri account are safe due to our partnership with Solarisbank AG.
All funds in the crypto wallets and vaults (Bitcoin and Ether) remain available and can be withdrawn or traded at any time. The insolvency of Nuri does not affect the ownership of the coins:
- Wallets (custodial): Nuri does not have access to the coins and/or the private keys of your custodial wallets. Solaris Digital Assets GmbH (SDA) is the custodian who operates the custodial wallets.
- Vaults (non-custodial): The nature of non-custodial wallets is that the user holds the keys and seed phrases. Nuri does not have access to the coins and/or the private keys of your vault.
Nuri is the provider of the frontend of the wallets and will continue to maintain the Nuri application.
Nuri Pots are made available to Nuri clients by Bankhaus von der Heydt. The product is provided, executed, and settled by tradias, the state-of-the-art platform for digital assets, and Bankhaus Scheich, a regulated specialist in OTC crypto trading and market making.
Are my funds included in the Insolvency mass?
None of your funds fall into the insolvency mass.
How can I access my Euro funds? Can I still access my bank account? Can I still use my card?
You can access your bank account via the Nuri App as per usual. You can transfer funds within the SEPA zone and continue using your Nuri Debit Card. You can find a step-by-step guide on How to make a Euro transfer.
Can I withdraw all of my funds? How can I withdraw my funds? How fast can I withdraw?
You can freely withdraw your Euro and the crypto (Bitcoin & Ether) in your custodial wallets and vaults at any time. You can find the instructions outlined for How to make a Euro transfer and How to deposit and withdraw Bitcoin or Ether.
For advanced users: If you wish to access or transfer Ethereum funds out of your Ethereum Vault using MetaMask, you can follow How do I import my Ethereum Vault to MetaMask.
If you want to withdraw your funds from the Nuri Pots, you have two options:
- You can sell your investments and convert them into euros. You can do this easily within the app.
- You can also swap a token for a fund of funds. If you want to do this, please contact our customer service via our in-app support.
The Celsius withdrawal freeze remains unchanged, and the withdrawal function remains inactive. We are in close contact with Celsius and will update you as soon as we receive more information.
When can I withdraw my funds?
As the insolvency does not affect your funds, you can withdraw all funds (except for the Bitcoin in your Bitcoin Interest Account) at any time.
Can I still trade crypto?
The app remains accessible, and all functions are working as usual.
Will my savings Plans still execute?
The savings plans will remain active and will be executed as per usual.
Can I still use the bank account?
Your Nuri bank account remains available and usable as per usual.
Will my standing order or Direct Debit still work?
Yes. There are no restrictions on standing orders, direct debit payments, or other payment functionalities.
Can I still use my Nuri Debit Card?
You can continue to use your card as normal.
Can I activate a new Nuri debit card?
You can activate an already ordered Nuri debit card by following the steps on How to activate my Nuri debit card.
Can I activate a new Nuri debit card?
You can currently not order a new card.
Can I withdraw or keep my ETF Pot investments?
You can withdraw your ETF Pot investments at any time, or you can choose to keep them. Nuri Pots are made available to Nuri clients by Bankhaus von der Heydt. The product is provided, executed, and settled by tradias, the state-of-the-art platform for digital assets, and Bankhaus Scheich, a regulated specialist in OTC crypto trading and market making.
What is the impact on the Bitcoin Interest Account and the Celsius holdings?
The Celsius withdrawal freeze remains unchanged, and the withdrawal function remains inactive. We are closely following the insolvency procedures and are planning to provide further guidance on the next steps and actions Bitcoin Interest Account holders can take in the form of general information.
Do you still help me to get my money back from Celsius?
We will remain committed to supporting you to the extent possible, as outlined in our previous communication.
Can I open a new account with Nuri?
At this time, we do not open any new accounts. Nor can we welcome new customers at the moment.