Swedish Bitcoin exchange Safello teams up with British bank to improve service

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The Swedish Bitcoin exchange Safello is teaming up with a British bank, which is remaining anonymous at the moment, to offer local deposit options for accounts based in the United Kingdom. 

Payment methods such as CHAPS or BAC are now supported by Safello, NewsBTC.com reports. This means that the exchange not only provides new transaction options, but is also allowing its clients to transmit funds within a short period of time.

Frank Schuil, the co-founder and CEO of the Swedish exchange, still hasn’t revealed the name of the bank that is working with Safello and apparently doesn’t intend to. However, Schuil said the partnership’s details are clear for both parties, with the bank knowing everything about the company’s connection with digital money.

logo-bigAfter all the news about banks running away from cryptocurrency and ditching Bitcoin companies, this partnership is seen by the community as a huge step forward.

Hopefully we are at the start of wider Bitcoin adoption in the UK. There’s no reason for your stubborn colleague or conservative friend to stay on the sidelines anymore. Get with the times, Uncle Phil!”, Schuil said, commenting on the partnership. According to the Bitcoin entrepreneur, the relationship between the exchange and the bank was easily established due to Safello’s consistency and stability over the last year.

We had to build trust with our banking partners and this simply took time.  However, the risk perception is changing and we expect other banks to follow suit in 2015. Bitcoin is no longer a fad.

Safello is well known in the Bitcoin community for positive reasons. The company has raised almost $1 million in funding since its creation and is constantly looking to develop new features. A year ago, they were also responsible for the development and launching of Sweden’s first Bitcoin ATM.

Images source: Safello.com

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Maria Santos

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter.

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