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German online bank uses Bitcoins to transfer loans

Reuters  |  BERLIN 

BERLIN (Reuters) - German Radoslav Albrecht has founded an online bank that allows clients to transfer loans anywhere in the world using Bitcoin.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 neighbourhood Prenzlauer Berg. "With Bitbond, payments work independently of where customers are. Via internet it is very, very ...

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First Published: Sat, May 12 2018. 14:31 IST
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