Munich-based Fidor Bank AG has partnered with German Bitcoin marketplace Bitcoin.de and now offers to its clients the opportunity to send payments in bitcoin directly. In addition to that move, Fidor bank is expanding into the U.S., where it is going to offer similar services.
It’s worth mentioning that such states as California, New Jersey and New York are developing rules to govern businesses that use cryptocurrency. The regulations in this field are still unclear. But, according to Payments Source, “authorities are attempting to accommodate virtual currency rather than treating it as a threat.” That fact can’t help but encourage Fidor Bank.
Ein großer Schritt für uns alle! "FIDOR Bank und Bitcoin.de führen Bitcoin Express-Handel ein!" http://t.co/nSXDn6YQHE
— matthias kroener (@Kroener_M) February 24, 2015
Matthias Kröner, CEO of FIDOR Bank, commented on the Bank’s expansion:
“The reason that a lot of very successful fintech startups are happening in the U.S… it’s not only because there are so many talented people setting up those businesses, it is also because there is a huge gap and demand in innovative services.”
As for the above-mentioned partnership, it is quite promising. “We are proud that we at Bitcoin.de have been able to develop further together with our bold partners from FIDOR Bank towards an exchange,” said Oliver Flaskämper, board member of Bitcoin Deutschland AG.
“That is not only good news for all Bitcoin fans, but also good news for fin-tech companies based in Germany. Together with the right partners more is possible in Germany than one might think,” he added.
Again, the advantages are evident. First of all, at Bitcoin.de, the clients’ funds are always on their own bank accounts. FIDOR Bank provides statutory deposit security of 100,000 euro per private customer. So, the funds are not exposed to the risk of total loss. In addition, clients of both companies can trade on Bitcoin.de within a few seconds.
Via the company’s “Express Trade” system, FIDOR Bank and Bitcoin.de offer the fastest option in Europe of buying and selling Bitcoins and – importantly – of conducting the “clearing” required in connection with this, according to the official press release.
“Above all in an innovative environment such as that in which Bitcoin operates, the top priority must be to provide the users this offer of security and sustainability,” said Matthias Kröner. “The prompt conducting of money transactions in the environment of Bitcoin transactions from one bank customer to another bank customer enhances security massively. As such FIDOR Bank is setting a further milestone in digital banking.”
Bitcoin.de is not just the world’s only Bitcoin trading platform with customer inventories checked by a publicly authorised audit company, but also the only Bitcoin marketplace with a direct interface to the classic banking system.