What started as a cryptocurrency information hub has turned into one of Europe’s leading cryptobanks. Coinhouse’s communication director Johann Ouaki shares the story behind this transformation.
In 2015, the world of cryptocurrencies was still in its infancy and information about it was hard to come by. In France, if you wanted to learn more about crypto you would go to La Maison du Bitcoin.
“It was the go-to place to learn and it was a huge thing actually because it was the only place you could gather information and do crypto operations easily,” explains Johann Ouaki, communication director at Coinhouse.
Today, seven years later, the world of cryptocurrencies has changed dramatically and the transformation of La Maison du Bitcoin into Coinhouse is an apt illustration of this.
“Seven years ago, we were only available as a physical store in France. Flash forward to today and we have gone fully digital, are available across Europe and in full scale-up mode,” says Johann Ouaki, communication director at Coinhouse. “Last year we were 20 people, now we are more than 100 and at the end of the year we are supposed to be more than 200.”
In Luxembourg since December 2021, the physical store turned digital cryptobank set itself the goals of “making crypto assets accessible to everyone” and becoming Europe’s first (private) cryptobank.
“They know that it’s something which can have a big impact but they do not know how to make use of that knowledge.”
Johann Ouaki, Communication director at Coinhouse
“A Cultural Object”
Coinhouse wants to achieve this in multiple different ways. Firstly, they organise a lot of events which explain and demystify cryptocurrency concepts, thereby “bringing crypto closer to daily life”.
“Currently, many people are still afraid of crypto because they do not understand what it is. They know that it’s something which can have a big impact but they do not know how to make use of that knowledge,” explains Johann.
Naturally, Coinhouse is a big proponent of crypto and sees it as “a way to be part of the future”. Unlike some, they think that this future is very close. “When I talk about the future, I don’t mean 10 or 20 years, I’m talking about a couple of months.”
For Coinhouse, cryptocurrencies, the metaverse, smart contracts and NFTs are all inextricably linked and the only way of accessing these new markets is by owning cryptocurrencies. “The main goal really is making crypto a cultural object,” says Johann.
Institutions And Investments
While Coinhouse’s activities in Luxembourg are currently mainly limited to working with institutions, they also offer different services to private individuals and professionals. With a minimum entry ticket of €15,000, investors can open a crypto savings account which allows them to choose among three different risk profiles and has a guaranteed return of 5%.
Professionals can invest in crypto assets as business customers and make use of a wide range of services including customised strategies, recurrent investments and buying and selling of over 45 cryptocurrencies which Coinhouse’s experts have deemed secure.
As “the only crypto company in the world which answers their clients on the phone, regardless of whether they are in France, Luxembourg, Spain or Italy,” Coinhouse appears to put customer experience front and centre of their work. Whether this will help turn crypto into a cultural object remains to be seen, but the first impressions appear promising.
This article was first published in the Silicon Luxembourg magazine. Read the full digital version of the magazine on our website, here. You can also choose to receive a hard copy at the office or at home. Subscribe now.
