Matthias Kröner, Fidor Bank of Germany CEO, has recently been interviewed by International Business Times (IBTimes) on the subject of digital currency. As known, this year Fidor Bank partnered with German Bitcoin exchange bitcoin.de to provide Bitcoin express, instantaneous service that provides users with €100,000 deposit insurance on transactions by virtue of being once removed from a regular bank account.
Looking back, in 2009 Fidor Bank was granted a full European banking licence. “When we approach an issue we ask ourselves, ‘why can’t this be done any better’, or ‘is that really the final solution’, or if there is a segment like the crypto issue, ‘why is this not being executed by a normal bank?’” said Mr. Kröner about being ahead of other banks.
During the interview Mr. Kröner called bitcoin “a natural part of the digital lifestyle”:
“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. 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.”
As said by Mr. Kröner, the regulators are “very fine with what we do, that we are supporting those businesses, or that we are servicing those businesses in a proper way”.
“This gives them [regulators], for the first time, a first-hand insight into what is actually happening in this industry,” he commented.
However, he added that it remains a huge step for regulators to allow a bank to hold Bitcoin “really in the account, in the sense of that this is depository money and this is on your balance sheet and in particular for the volatility reasons, they are afraid of