The smartphone app turns your phone into a Bitcoin Debit card or mobile Bitcoin wallet.

The first Bitcoin bank is due to launch in July, offering easy access to your funds from any computer or Internet-enabled device. Flexcoin provides a central location for the virtual currency, linking your coins to an account rather than a single computer. This makes payments easier too, as it is accessible from an iPhone or Android so you are technically carrying your money around with you and can pay from wherever you are.

This is also the first Bitcoin wallet that pays interest, as it mines for coins and distributes them to account holders with a positive balance. The project is currently in alpha and asks visitors to return to the site by July 1st to view its progress.

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