![]() ![]() "Opening our accounts to the entire world means that we need to take additional steps to prevent abuse and money laundering ," says Marcel Trik, CFO at Bitsafe. Consumers now have more freedom in managing their own cash and other digital assets such as domain names. With this new legislation, banks will just become utilities that move money around in the background. The European Union has recently adopted new legislation that allows financial institutions other than banks to open up Basic Payment Accounts for their clients. ![]() It is a move that is disrupting the global banking industry.īanks have always had a monopoly when it comes to storing people's money. Today the Dutch company Bitsafe, headquartered in Amsterdam and regulated by the Dutch Central Bank, is paying homage to their roots and again making history as the very first company to offer payment accounts to anyone in the world. The very first joint stock company worldwide was also founded in Amsterdam. In the sixteenth century it was the Provinces of the Netherlands that were the very first ones globally to introduce new financial instruments such as promissory notes and life annuities. This results in zero credit risk and immediate availability of funds ," Zuurbier continues. Funds in accounts are not stored with another bank, but with the central bank we work with. "All Bitsafe accounts will bear a unique Dutch IBAN. Thanks to new European legislation, Bitsafe is now able to accept customers from all over the world ," says Joost Zuurbier, CEO at Bitsafe. "Residents of a given country are usually limited to opening a bank account with a bank in their home country or region. ![]()
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