Berlin-based bitcoin peer-to-peer lending startup Bitbond is celebrating a milestone for their business. The German Federal Financial Supervisory Authority BaFin has granted Bitbond, as the first blockchain-based financial services company, the license to engage in small business financing in Germany, as well as globally, independently of banks.
Bitbond offers the opportunity for small businesses around the globe to receive access to affordable loans while lenders earn profitable interest rates. Since Bitbond lending works exclusively with bitcoin, neither the borrower nor the lender requires a bank account, which makes Bitbond especially attractive to for borrowers in under-banked communities. Bitbond has originated over 1,400 bitcoin-based loans since its launch in 2013 and boasts a wide user base, hailing from over 120 countries.
On obtaining the BaFin license, Bitbond founder and CEO Radoslav Albrecht said that Bitbond can now operate