Fidor Bank Partners With Kraken to Create Cryptocurrency Bank
Fidor Bank, a German Web 2.0 bank, is partnering with Kraken to launch an initiative that will create a specialized bank for cryptocurrencies. The project aims to create a regulated and licensed financial service institution. The project will combine several products and services from various companies to offer a great variety of financial products and services that are geared towards cryptocurrencies. Also read: Vogogo Secures Partnership With Knox Payments to Service Digital Currency Industry. New Cryptocurrency Bank. Kraken is a Bitcoin exchange that is located in San Francisco. Through....
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German Internet direct bank Fidor and digital currency exchange Kraken are teaming up on what the two companies say will be the first "specialized bank for crypocurrencies". The platform is expected to enter the first stages of development by the end of this year. San Francisco-based Kraken reported it will be responsible for the technological aspects of the project, while Fidor will handle regulatory and licensure logistics, drawing from its connections in the broader financial sector. The partnership builds on an existing cooperation between Fidor and Kraken, which cemented an European....
Digital currency exchange Kraken has forged a partnership with Munich-based Fidor Bank to offer its European customers regulated bitcoin trading services. Jesse Powell, CEO of Payward Ltd, which is the developer of Kraken, said the exchange has found its "ideal partner" in Fidor Bank. He described the bank as a "responsible, forward-thinking financial institution" and praised its desire to combine the "predictability and stability of traditional banking relationships with the social and economic benefits of new digital currencies". Powell added: "From the beginning, our goal has been to....
A bank in Germany that goes by the name of Fidor Bank AG is truly differentiating itself even further from your grandparents' bank. You may have read that Fidor became the first bank to utilize Ripple's payment protocol, so why is this bank so different? Fidor is not your traditional bank. Just take a second to digest all the features Fidor's smart checking account offers besides the trite bank/bank card "perks" that every bank offers. Fidor's smart checking account enables users to: Have no account fees. Borrow money from friends. Buy precious metals. Buy foreign currencies. Buy....
This is not the first time Fidor has delved into the world of cryptocurrency. In fact, last October they partnered with a cryptocurrency exchange Kraken. Fidor becomes first bank to use Ripple, a payment protocol. Fidor, a Munich-based bank. Fidor states that they are implementing Ripple as a way that will benefit the consumers, with faster and more affordable means of transferring money, not just inside Fidors banks, but also across other banks and other financial companies. This benefits both supplier and consumer, as Fidor will have to spend less on fees, transaction costs, etc.....
When Fidor Bank's Michael Maier spoke to CoinDesk in June, the Internet bank COO framed his industry as one that bitcoin would grow to challenge directly, suggesting at the time that its partnership with Kraken demonstrated its intent to accept this future and even cooperate with it. However passive these statements may have seemed at the time, they came into sharper focus on 31st October, when Fidor announced it would team with its San Francisco-based bitcoin exchange partner to launch "the world's first cryptocurrency bank". The unnamed project seeks to build a regulated financial....