Strive Bank launches crypto piggy bank for kids

Strive Bank has launched the world’s first child-friendly physical piggy bank linked to digital currency wallets.

Strive, a family-focused challenger bank, announced yesterday it had launched the world’s first child-friendly physical cryptocurrency piggy bank. The piggy bank is linked to the Coinbase wallet and comes with an app for the parents.

In its blog post, Strive said the combination of the app and hardware digitally shows any crypto wallet balance on the piggy bank. The company said, “Parents can then use the accompanying app to schedule crypto payments, such as pocket money, and monitor their child’s digital transactions.”

Strive assures users that the device and the app are completely safe as they are secured with 256-bit encryption, thus protecting user data at all times. The firm added that children as young as five years of age could start using the piggy bank.

The device is named Penny the Pig, and is designed to give kids a safe and responsible way to explore the crypto space while also learning about the future of money. Strive plans to launch a piggy bank mining edition designed to mine Bitcoin and other digital currencies.

CEO and Co-Founder of Strive, Andrew Birt, says children need to be equipped with financial skills and encouraged to invest responsibly from a young age. He believes this makes Penny the Pig essential.

“Without a doubt, the crypto market is here to stay. With $2 trillion (£1.43 trillion) now stored in crypto across 68m crypto wallets around the globe, there’s still a surprisingly visible lack of resources to teach kids about digital currency. This is why we’ve built Penny the Pig – to give everyone a simple, safe and responsible way to explore the space of cryptocurrencies and learn about the future of money,” Birt concluded.

The company sells ‘Penny the Pig’ piggy banks at $149 (£106.87) each. The cryptocurrency space continues to birth innovations and introducing children to cryptocurrency investments and teaching them about the new asset class will ensure the next generation learns about them from a young age.