Bitcoin Exchange Works with Bank in Germany
Fidor Bank AG, of Munich, has agreed to help Bitcoin Deutschland GmbH, an exchange operator, to speed trading of bitcoins and comply with regulatory requirements.
The partnership will make the bitcoin.de trading platform Europes first to operate with a bank partner, helping it comply with anti-money laundering legislation, the companies say.
"With Fidor Bank AG as our partner, the digital bitcoin currency, which was initially smiled at as internet play money, is increasingly turning into a serious alternative currency after only 4 years, says Oliver Flaskämper, managing director of Bitcoin Deutschland, in a press release July 11.
Bitcoin.de users will be able to trade "in near real-time" with a FidorPay account, Flaskämper says.