trending Market Intelligence /marketintelligence/en/news-insights/trending/9prybz2u4-ddiuei6icmmg2 content esgSubNav
In This List

German digital bank transfers loans using bitcoin

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


German digital bank transfers loans using bitcoin

A German online bank has been founded that lets customers transfer loans using bitcoin, bypassing the Swift international transfer system, Reuters reported.

Bitbond GmbH, which allows for transfers anywhere in the world using cryptocurrencies, was officially licensed as a bank in 2016 and has since gained steam, managing loans of approximately $1 million per month currently, the newswire reported.

Clients hold the digital tokens for only a short time before they are exchanged into the currency of the country where the funds are being transferred to. Founder Radoslav Albrecht noted that traditional transfers could be costly and slower.

Bitbond's customers are mostly small business owners or freelancers, Reuters said.