Fidor Bank Expands to UK

Germany-based Fidor Bank, probably the most cryptocurrency-friendly regulated financial institution, has announced its expansion to the UK.

Germany-based Fidor Bank, probably the most cryptocurrency-friendly regulated financial institution, has announced its expansion to the UK.

The bank has previously incorporated the Ripple protocol for funds transfers, integrated directly with Germany-based bitcoin exchange bitcoin.de, and supports payments with Europe-focused bitcoin exchange Kraken.

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Clients in the UK will potentially have access to these services, plus other unconventional features of the online bank, such as a floating interest rate tied to the number of Facebook likes.

Fidor has been eyeing international expansion for some time, and is even considering the US. The biggest hurdle it faces is fitting its uniquely-shaped banking model into more rigid regulatory environments. Helping clear this hurdle is the UK’s highly progressive climate toward disruptive technologies and FinTech.

The announcement comes at nearly the same time as Coinbase’s announced expansion to the UK, also likely helped by the regulatory climate, particularly by the recent announcements of intention to regulate virtual currency and funding for research.

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