CEO of Fidor Bank of Germany, Matthias Kröner, has long been a supporter of Bitcoin. In recent comments to IBTimes, the CEO said that Bitcoin is the “natural part of digital lifestyle.” Fidor Bank, he also said, is opening in the United Kingdom this year. This means that people interested in Bitcoin in UK will find it easier than ever to use, especially with a forthcoming exchange set to be launched by Fidor soon.
“When we approach an issue we ask ourselves, ‘why can’t this be done any better’, or ‘is that really the final solution’, or if there is a segment like the crypto issue, ‘why is this not being executed by a normal bank?'” Kröner said.
Bitcoin regulations – or lack thereof – have been a problem even for Kröner who mentions that regulations in Germany are unclear and that he himself has been a proponent of Bitcoin to politicians. He has not necessarily succeeded in this capacity, criticizing politicians and calling them “the biggest local disadvantage.” Unlike many Bitcoiners, he does not value anonymity more than some of Bitcoin’s other features.
“I definitely do not understand the fundamentalists in the crypto environment saying that anonymity or anonymous status is kind of sacred heaven. I want to know who potentially wants to fool me.” For him, Bitcoin has a long way to still go to achieve mainstream appeal, and he knows his bank can lead the way.
“I know that this an uphill struggle. From my perspective, having a full European banking licence, I’m definitely defending this line saying, you need to regulate this – in a constructive way.
“If it’s unregulated, this is a grey market, and grey markets are always negative. You have to legalise it; banning is not an option.”
The German bank has operated with a full European banking license since 2009. It plans to launch a Bitcoin exchange, called “Bitcoin Express,” which will allow users to buy and sell bitcoin instantly on its partner exchange, bitcoin.de. Fidor bank also has a partnership with Kraken in the USA.