Strive Bank Launches World’s First Child-Friendly Crypto Piggy Bank

Strive Bank, a family-focused challenger bank, has launched the world’s first child-friendly physical piggy bank linked to cryptocurrency wallets.

Strive has launched an interactive piggy bank, Penny the Pig, which shows the child’s balance, chores, goals, and the accumulated rewards.

Strive Bank

The bank started last winter after the acquisition of GoSave Strive was designed to teach children the importance of finances.

Their platform displays the contents of a child’s crypto wallet to their parents. Pocket money can be paid into this wallet also. They also offer a chores function where parents can set goals and rewards for their kids to show them the accumulation of money over time.

Penny the Pig

Today Strive announced a new crypto-focused app and digital piggy bank, Penny The Pig. It is suitable for children aged five and above. This will continue their long-term goal of teaching children responsible money habits and investments. A digital display on the piggy bank allows children to see their spending, chores, rewards, and more. Retailing at $149, about £107 at the time of writing, the product can be pre-ordered from the Strive website.

This latest addition to Strives product range gives them an advantage over their competitors. For instance, GoHenry is only offering an app and debit card, which is available for children six and above. 

Bank’s Outlook

This latest offering goes out alongside other unique products the bank offers, such as a white label solution which enables banks in other parts of the world to create similar child-focused solutions. These offerings are free or otherwise £2 per month, per child fee if parents wish to add a Strive debit card for their children.

Additionally, Strive bank isn’t the first company in the crypto world to focus on children and their development. The Binance Charity Foundation enables users of their platform to donate Binance Coin (BNB) to help feed children in several African Nations.