German Online Bank Uses Bitcoins to Transfer Loans

Written by:
Guest
Published on:
May/13/2018

Bitbond uses cryptocurrencies like Bitcoin to bypass the Swift international transfer system to lend money across the globe rapidly and at low cost.



“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days,” Albrecht told Reuters TV in his office in Berlin’s fashionable neighborhood Prenzlauer Berg. “With Bitbond, payments work independently of where customers are. Via internet it is very, very quick and the fees are low.”

Clients hold the loans in digital tokens like Bitcoin only for seconds or minutes until they are exchanged back into the currency of the country where they wish to receive the funds, avoiding the crypto currencies fluctuating exchange rates.
Bitcoin has been used as collateral for loans, but never as a way of transferring credit in currency internationally.

Albrecht’s service has been growing in popularity among clients since he launched the company in 2013. His office employs 24 people from 12 countries who manage loans for 100 clients amounting to around $1 million each month.

Most clients are small business owners or freelance workers, Albrecht says. Loans are relatively small and don’t exceed 50,000 dollars. In 2016, Bitbond was officially licensed as a bank and has gained many investors since.

Adoption of Bitcoin has been rapid in Germany. It trails only the U.S., according to Bitnodes, which tracks the location of all the Bitcoin nodes that transmit data about new transactions.

Business/Financial News

Betting With A Bookie

If youíre a person that likes to bet on sports there are a few options that you can utilize in order to make wagers, such as going to an actually Casino, finding an online sportsbook, or finding a local bookie. 

Professional Bookie Software

If you are a person that likes sports and betting and likes to actually make money from it then using professional bookie software in order to book action could prove to be a great opportunity.

How To Become A Sports Bookie Through A Pay Per Head Service

How To Become A Sports Bookie Through A Pay Per Head Service

Achieving your dream of owning your own sports bookie agency is now possible through our Top Pay Per Head service.

Getting the Most Out of Your PPH Service

Getting the Most Out of Your PPH Service

Now that sports betting has become every day, ordinary topic of discussion on popular sports stations like ESPN, TSN and pretty much every local sports provider on television, it’s time to cash in.

7 Reasons Why You Should Use Bookie Software to Run Your Sportsbook

Today it’s possible to run a world-class sportsbook even if you’re a one-man-show. You can actually rival most online sportsbooks by using bookie software to run every aspect of your operation.

Syndicate