Denmark-based bitcoin platform Coinify has announced its expansion within the Single Euro Payments Area (SEPA) network, enabling customers in 34 countries to buy and sell the digital currency.
SEPA is a European Union (EU) payment integration scheme that aims to ease euro denominated bank transfers between 28 EU member countries as well as Iceland, Norway, Liechtenstein, Switzerland, Monaco and San Marino.
Christian Visti Larsen, chief financial officer at Coinify, told CoinDesk:
In addition to its consumer features, Coinify allows businesses to accept bitcoin and receive next-day settlement in fiat currencies, including euros, dollars and kroner, among other currencies.
Larsen said the company was planning to take on further investment in the second half of this year.
"We expect to raise a significant amount to make sure that Europe will be playing a leading role in this new payment space. We believe that our strategy on providing the traditional payment service providers with dedicated service is our way in to the market," he added.
With its European expansion, Coinify is entering a hotly contested space, competing with various bitcoin exchanges also supporting SEPA payments.
San Francisco-based Coinbase recently announced its expansion to the UK, enabling customers to add euros to their wallets using SEPA.
Bitcoin exchanges Bitstamp and Safello also allow customers to purchase bitcoin through SEPA deposits.
European map image via Shutterstock
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