Bitcoin startup Bitbond secures BaFin licence

Regulation | October 12, 2016 By:

Bitbond announced it received its own licence by German financial regulator BaFin.

Bitbond was founded in 2013 and enables individual and institutional investors to invest in various interest rate regions. The BaFin licence is a huge step for Bitbond as it enables the startup to be active independently of banks. The BaFin licence makes Bitbond also geographically independent, which will help the company to fulfill its mission which is to make financing and investing globally accessible.

“With our own BaFin licence that allows us to conduct asset brokerage Bitbond is active independently of banks. This provides us with a significant efficiency advantage. Other Fintech startups normally rent a licence and by that are bound regionally. Our own licence helps us to fulfill our mission which is to make financing and investing globally accessible. We are proud to be one of the first regulated financial services providers in the entire blockchain space. This creates legal security with investors on our platform and shows, that Germany is a good location for innovative and globally active financial services providers,” said Radoslav Albrecht, founder and CEO of Bitbond.

Bitbond explained that investors may finance small business loans through its website and get access to attractive interest rates. The startup currently has users from over 120 countries and originated over 1,400 loans.