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Taking Notes from the World’s First Cryptocurrency Bank

Fidor Bank in Germany is turning heads with its bold and future-forward inclination for innovations and new technology in the field of personal finance. Since its launch in 2009, Fidor Bank has earned the reputation of being a “modern Internet Bank.” They are on the forefront of adopting new technologies that follow the trends of consumers’ digital lifestyles.

Consumer convenience

Fidor thinks of the convenience of consumers foremost; and this is why they are savants in providing cutting-edge technology that helps consumers stay connected to the digital world.

In February 2015, Fidor Bank partnered with bitcoin.de, a pioneer in the Bitcoin exchange business in Germany. This partnership has since enabled Fidor Bank customers to buy and sell bitcoins within the bank itself through a process called Bitcoin Express.

Fidor Bank also partnered with Bitcoin exchange giant, Kraken, and together they’ve created the World’s First Cryptocurrency Bank.

A digital community

The key difference between Fidor and other banks in the world is its high regard for community. The bank’s users and representatives hold regular forums where they openly discuss how to improve Fidor’s financial services. It is this community touch that has helped Bitcoin users switch to Fidor.

Fidor Bank CEO, Matthias Kröner, reiterates what it means to be the most Bitcoin-friendly bank today: “Fidor Bank remains to be the only bank to offer Bitcoin options to its customers as part of normal banking operations.” Further, he believes that this has given them leverage in the banking and finance industry the world over.

“We simply think that everything which is coming along with crypto or even bigger with the blockchain is a more or less a natural part of the digital environment or the digital lifestyle,” said Kröner.

“It is, as always, not a good thing to ignore or exclude important parts of a certain lifestyle once your customers are executing this lifestyle.”

Kröner is not daunted by the fundamentalist debate that has been putting Bitcoin down over the years. He sees no threat in supporting a system that relies on anonymous transactions. However, he believes that constructive regulations should be in place.

“The biggest obstacle to creating sound regulations for Bitcoin is that politicians don’t understand cryptocurrencies and the digital environment,” Kröner adds.

Kröner also confirmed that Fidor Bank will be opening in the UK before the end of 2015.

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