The Berlin-based peer-to-peer bitcoin loan company Bitbond has raised a seed round of €200,000 ($267,270) to develop its platform, with investors including Point Nine Capital and BillPay CEO Nelson Holzner.
Like BTCJam and BitLendingClub, Bitbond allows bitcoin holders to lend their cryptocurrency to others for interest. Founder and CEO Radoslav Albrecht sees big “crowdlending” opportunities in the emerging markets, where small businesses may lack traditional bank accounts and find it hard to get a loan – he told me that Bitbond will initially set its sights on Latin America.
“Global loan market”
According to Albrecht, bitcoin’s advantage over traditional currency is its thorough internationality. “With bitcoin somebody from Costa Rica can access a global loan market,” he said. “That’s only possible with bitcoin. With dollars or euros it takes too long and is too expensive.”
He also noted that localized virtual currency schemes like M-Pesa tended to rely on…
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