Published On: Sun, May 13th, 2018

Certified German Bank Facilitates Transfer of Credit Using Bitcoin

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Bitbond, the bitcoin lending platform for small business loans, now lets clients transfer loans across the globe via bitcoin. This is the first time BTC’s been allowed for transferring credit internationally. 
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Bypass the SWIFT
Founded by Radoslav Albrecht, Bitbond now lets clients, specifically small businesses, transfer loans internationally using BTC.
The most interesting dynamic at play? Bitbond is making use of bitcoin as opposed to the SWIFT international transfer system due to the cryptocurrency’s quick transfers and low fees. 

Albrecht noted to Reuters TV:
“Traditional money transfers are relatively costly due to currency exchange fees, and can take up to a few days. With Bitbond, payments work independently of where customers are. Via internet it is very, very quick and the fees are low.”
Bitbond clients do not have to worry about BTC price fluctuations as the online bank only holds the loan in bitcoin for minutes and thereafter exchanges it for the desired fiat currency. The exchange duration is short …

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