Bitbond: crypto-loans help to bypass SWIFT

The speed of issuing loans due to this increase and commissions are reduced.

14.May.18 2:06 AM
By Natalia Mylnikova
Photo Toinnov.com

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Bitbond: crypto-loans help to bypass SWIFT

The World Association of Interbank Financial Communication Channels (SWIFT) is the most effective and reliable way of financial communications with any point of the world.

All international banks operate in this system. But this system has its drawbacks: transactions are performed relatively long (up to several days), which in modern conditions can lead to significant losses, and the cost of traditional monetary transactions is quite expensive.

According to the founder of the p2p-crediting platform Bitbond, crypto-currency loans can bypass the SWIFT platform, and therefore, reduce the cost of such loans and increase the speed to the maximum possible.

German platform Bitbond is one of the few companies that provide loans to individuals in bitcoins. It appeared in 2013, and three years later received a license from Germany's financial regulator, having obtained the rights of a banking institution. Thus, the clients of this institution are adequately protected. Today, the company issues loans worth more than $ 1 million per month.

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