Sweden has a new Bitcoin startup that helps users, especially beginners, to buy and trade virtual coins. Safello went
online in August and plans to be part of the new wave of services that
fight for cryptocurrency’s regulation to make sure that both Bitcoin
sellers and buyers are protected.
That’s why Safello, according to its CEO
Frank Schuil, is focused on two Bitcoin features that are extremely
useful for consumers: speed and convenience, especially when users need
to make international transactions. As a Bitcoin reseller, the startup’s
goal is to provide infrastructure for the sale and purchase of cryptocurrency, but Schuil says that, “at this stage, we also have to market Bitcoin itself”.
The company “has built up liquidity in
Bitcoin and hooks into other platforms to match any price on any
exchange”, Safello’s CEO adds. However, Frank Schuil thinks that the
startup can stand out from the existing exchanges due to its concern
with transparency and also because Sweden has such a good reputation
abroad, particularly in Europe.
“Rather than dealing with Mt Gox, which
is based in Japan, and transmitting your money to their bank account in
Poland, you just deal with one company, in one place”, says Schuil.
That’s a good reason to attract customers, but the Swedish authorities and banks have also been seduced by Safello,
which has created a corporate account with a big Swedish bank and is
following the guidelines issued by Skatteverket, the national tax
authority.
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