Fidor, a German bank, has announced that it will be opening a cryptocurrency platform in the United States. This platform utilize the Ripple Protocol to create a real-time transaction network.
The bank expects to run into regulatory issues when launching their new platform in the US. The lack of federal Bitcoin regulation has led to individual states approaching the digital currency on their own, creating varying degrees of regulatory difficulty for cryptocurrency businesses.
However, Fidor is not worried about these compliance hurdles. Fidor CEO Matthias Korener says his bank is actually grateful that the US is opting to regulate cryptocurrency rather than instituting an outright ban.
Currently, Fidor and Ripple have not released any further details about Fidor’s cryptocurrency platform. CoinFinance will continue to follow this story and will provide updates as they become available.
Image courtesy of Ripple.