24 Feb '15, 7pm

German Fidor Bank Brings Bitcoin to Mainstream Banking, Expands Overseas

German Bitcoin exchange bitcoin.de and Fidor Bank have announced a new “Bitcoin Express” option for Fidor Bank customers to buy and sell bitcoin instantly on the exchange. The new option addresses the delays involved in exchange transactions. Bitcoin exchanges like BitStamp, which are not licensed banks, must often wait hours or even days for a transaction to be cleared by an external bank. But because Fidor Bank is fully licensed, it is able to provide a direct interface to the mainstream banking system, eliminating transaction delays. As a result, holders of a “Fidor Smart Giro Account” are now able to purchase bitcoin directly from a bank account and receive bitcoin immediately after the purchase. They can also sell bitcoin to another Smart Giro Account holder and have the money instantly credited to their account. Since the money is always in the user’s bank account, c...

Full article: https://bitcoinmagazine.com/19379/german-fidor-bank-bring...

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