German Online Bank Dismisses Swift, Favors Bitcoin for International Money Lending.

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Bitbond, an online bank founded in Germany in 2013 by German Radoslav Albrecht, has found an innovative use case for bitcoin’s borderless nature: international loan payments.

It was the first to use bitcoin to transfer credit in currency internationally, not only as loan collateral, and it’s currently processing about $1 million in loan payments per month.

As the company explains on its website:

“By innovating in the fields of payments and credit scoring, Bitbond makes financial inclusion a reality around the world. All payment transactions on Bitbond are conducted via the bitcoin blockchain. Therefore our service is available worldwide via the internet and is independent of banks.”