Bitcoin entrepreneurs see their opportunity in the damaged economies of Greece and Argentina
- 9 years ago
Greece is the site of the latest Bitcoin gold rush.
U.K. company Cubits has partnered with Greek bitcoin exchange BTCGreece to launch a service that lets Greek merchants use bitcoin to pay the foreign companies that send them supplies.
The joint company, called Cubits.
gr and based in Athens, also plans to introduce 1,000 bitcoin ATM machines throughout Greece starting as early as October.
The country now has four of the ATMs, three of which were set up last month.
The purpose of the ATMs: bypassing the strict financial laws known as "capital controls" that restrict the flow of money to go outside Greece.
Bitcoin, a six-year-old digital currency known for its volatility, is not tied to any government or central bank.
Because it is unregulated, monetary authorities have no control over its use.
People can transfer it, even across borders, with the touch of a smartphone.
In Greece, signups for BTCGreece rose from one or two daily a year ago to 150 daily this summer, Marinos said.
U.K. company Cubits has partnered with Greek bitcoin exchange BTCGreece to launch a service that lets Greek merchants use bitcoin to pay the foreign companies that send them supplies.
The joint company, called Cubits.
gr and based in Athens, also plans to introduce 1,000 bitcoin ATM machines throughout Greece starting as early as October.
The country now has four of the ATMs, three of which were set up last month.
The purpose of the ATMs: bypassing the strict financial laws known as "capital controls" that restrict the flow of money to go outside Greece.
Bitcoin, a six-year-old digital currency known for its volatility, is not tied to any government or central bank.
Because it is unregulated, monetary authorities have no control over its use.
People can transfer it, even across borders, with the touch of a smartphone.
In Greece, signups for BTCGreece rose from one or two daily a year ago to 150 daily this summer, Marinos said.