It's All About the Bitcoins

Bitcoin-Central Becomes First Bitcoin Exchange to Operate as a Bank

Mr. Francois (Photo: Paymium)

Big news for Bitcoin today: in a post on Bitcoin Talk, Paymium CTO David Francois announced that Bitcoin-Central, an exchange operated by Paymium, has scored a partnership with Aqoba and Credit Mutuel that will allow it to operate as a bank. The move will provide Bitcoin-Central with protections afforded to payment service providers in Europe, including insurance on Bitcoin accounts worth up to 100,000 Euros.

The insurance on deposits is only for euro-denominated deposits, and funds in euros are stored at the bank. Bitcoin balances are not stored at the bank, and are not insured. Read More