Bitcoin services and products provider Cubits.gr and Greek change BTCGreece have teamed up to help Greek electorate transfer money out of the country to suppliers and trade partners. founded by using Julian Mautner, Tim Rehder, and Andreas Lehrbaum, the companies hope to work round capital controls within the u . s . to get businesses operating again in the us of a.
essentially the group is building a go-border payments provider for the Greek market. they are focusing on small and mid-size businesses. The team is aiding voucher funds backed by means of bitcoin as well as access to point of sale terminals and ATMs. essentially they are rebuilding financial transactions the use of bitcoin as the backing medium.
“Cubits is on this for the longer term, that is their priority and main center of attention,” said Rehder.
the corporate currently has 15,000 wallets and 500,000 monthly transactions.
“With Greece’s myriad of financial problems at a document high, financial relationships are strained with the aid of the current credit controls as companies grapple to are trying to find permission so as to pay suppliers, and people are restricted to withdrawals of EUR 60 per day,” stated Rehder. “As the one operational bitcoin exchange in Greece, BtcGreece permits Greeks to buy bitcoin and remit outlined funds in another country. Cubits’ arrival in the Greek market will provide the professional method to the issues at hand.”
Greece’s issues most certainly won’t be totally solved by using somewhat of bitcoin but it’s been a fascinating experience. Spartanroute is attempting these related moves and individuals in Greece are working towards equivalent options. it’ll be attention-grabbing to look who thrives – and who survives.
Featured picture: AFP picture / ANGELOS TZORTZINIS/Getty photography
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