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Finding a Bitcoin-friendly bank seems to be an impossible task these days unless you live in the UK or Germany. Most people know the name Fidor Bank as being the only Bitcoin-friendly bank in existence, but there is a new kid on the block. NextBank has announced their upcoming launch and they have some interesting tricks up their sleeve.
Also read: New Bit-X Bitcoin Debit Cards Shipping Out
The financial sector as we know it has undergone many changes over this last 12 months. Even though there has been a disturbing lack of innovation from within the sector itself, the accelerated development of new technologies is making up for that. If all things go to plan, technology firms will be able to offer access to the payments system without relying on larger banks.
Make sure to read: NairaEx Aims To Restore Bitcoin’s Prestige in Nigeria
It has been in the making for quite some time, but now Fidor Bank has finally opened its doors to the public in the United Kingdom. Most Bitcoin enthusiasts will know the name Fidor Bank for their presence in Germany and their openness towards Bitcoin companies and startups. With this UK launch, Fidor Bank can bring banking relations to UK Bitcoin companies while the main banks are still refusing to do so.
Many Bitcoin enthusiasts around the world will have heard of FIDOR Bank by now, one of Europe’s leading banks as far as digital currency is concerned. In fact, FIDOR Bank recently partnered with Bitcoin.de – a leading European Bitcoin exchange – to offer instantaneous buying and selling of bitcoins. But FIDOR Bank’s expansion to the United Kingdom is not going as smoothly as they would like.
In order for FIDOR Bank to expand to the United Kingdom, they will need to gain access to the current UK payment system infrastructure. Unfortunately for Bitcoin enthusiasts, the UK is not keen on anything that has to do with Bitcoin or other digital currencies, and it looks like that stance will not be changing anytime soon.
Buying Bitcoin in Germany has become a bit of a hassle, ever since Localbitcoins stopped operating in the country, and certain German banks start reversing Bitcoin-related bank transfers. But there might be a light at the end of this dark tunnel, as FIDOR Bank and Bitcoin.de have announced the launch of their Bitcoin Express trading system.
Bitcoin and traditional banks will not become the best of friends any time soon, but that might not be as much of an issue anymore in the near future. FIDOR Bank, a German bank well-known for their openness towards Bitcoin business and enthusiasts, is teaming up with Germany’s largest Bitcoin marketplace Bitcoin.de to create a direct connection between Bitcoin and traditional banking.
Recently the news from the banks on the Bitcoin phenomena can be described as not as coherent as one should expect from the financial sector. Some banks are more open to the concept of Bitcoin and digital currency in general. For example look at Deutsche bank or the Bank of England that describe Bitcoin as “innovative”.
However there are also banks on the other side of the fence and claim that Bitcoin is “ disruptive, volatile and can’t be trusted”. We can point to the multiple reports, mostly with accompanied by statistical data charts that clearly shows how “bad Bitcoin really is”. Some even claim that “Bitcoin will undermine and in a couple of years will demolish the existing financial structures”.
Most of the time interviews focus on the Digital currency businesses and rarely focus on major players outside the crypto world. What drives this “perceived aggression” towards Crypto? That is why we ventured into the lionesses den, armed with only a pen and some paper, to give you the views from the other side of the trenches and give the banks an opportunity to express them to the Crypto community.
The two days of CoinSummit have been a blast. The summit was divided in panels; these were prominent figures in investment, project backers, VCs, Fidor Bank, and crypto businesses. Every day, there were also startups that were given a platform at CoinSummit to explain who they are and what they do. Start-ups like SWARM, Chromawallet, etc….
After every hour or so, there was an opportunity to get something to drink and network with the people that were present at CoinSummit; from CoinDesk to start-up companies ( where we made some great friends along the way with really great products). Nevertheless, the drinks -non alcoholic- flowed and the food flowed too, so to speak.
As the CoinSummit London event is coming closer, the list of speakers are getting filled. We have been contacted by some of our dedicated readers with questions like: “who we look forward to see and hear and why these people”.
I really do not like picking people over other people because nearly all of them are very interesting. Nevertheless I will make a selection on who I find interesting. JP may do the same though his choices may vary. I will pick 6 people out of the list of speakers.
1. Bobby Lee.
