This and other platforms in the world are working on fast ways of sending money from one country to another. The service converts fiat money into BTC, ETH, DASH, and BCH.
Since cryptocurrencies have been used as a means of payment, different companies are trying to take them into account or facilitate fast cross-border payments.
Cryptocurrency exchange Bitpanda, which has been on the market since 2014, is now allowing its users to send money and pay bills through their existing accounts.
Also, it will be possible for users to send money to any International Bank Account Number (IBAN) in the European Union. These payments could be conducted directly through the user’s Bitpanda account.
The company gave the information through its official Twitter account. “You can now send money to any IBAN in the European Union and beyond, meaning you can send money to friends and pay bills directly from your Bitpanda account”, it said.
The Reasons
In this way, citizens of the European Union can now pay their utility bills and subscriptions using cryptocurrencies. This is another step to support the adoption of cryptocurrencies and blockchain.
The company has a licensed subsidiary. It is called Bitpanda Payments and it is a registered payment service provider under the European regulation PSD2. This exchange allows users to convert money from their cryptocurrency wallets to fiat money so they can send it to any IBAN account.
Bitpanda Global Exchange is based in Vienna, Austria. The users of the exchange use their own token called BEST.
But this is not the first company that use cryptocurrencies to pay bills. In Europe, there is Piixpay.com which is another service to pay bills. In Australia, a similar platform is LivingRoomOfSatoshi.com and in the United States there is DigitalBillPay.com.
Payment processors like Bitpay, Coingate and CoinPayments allow consumers to pay in crypto and retailers receive fiat money.
Cryptocurrencies Recognition
The evolution of the cryptocurrencies world is not going fast, but neither slow. Point of sales terminals are moving forward. Many of this devices allow cryptocurrency payments directly or through payment processors.
Recently, it was known that fifteen institutions in Osaka, a region of Japan, will accept Kintetsu Shimakaze Coin, a digital currency created by the Mitsubishi Research Institute (MRI) and the Kintetsu railway company.
This asset will be available from November 11th to January 31st as a period to test the initiative. Kintetsu plans to develop a permanent cryptocurrency to use it in its railway lines.
Next year, 25,000 retailers would accept cryptocurrencies. This would include important brands like sneaker shop Foot Locker, supermarket Conforama and make-up retailer Sephora.
Last April, Bitpanda received an EU payment service provider license to operate. This license was issued by the Australian Financial Market Authority (FMA), in accordance with European law (PSD2).
The first service based on that license is Bitpanda Pay and the project of sending money to any region in the European Union.
Currently, the service supports EUR, USD accounts and converts fiat money into BTC, ETH, DASH, and BCH. Finally, the Bitpanda team said they will seek to continuously add more assets that can be used through the platform.
By María Rodríguez
