Coinffeine is a distributed FIAT- Bitcoin exchange technology which enables banks and payment processors to offer Bitcoin services without touching Bitcoin.
The strategy of Bankinter with this movement is not only to participate in the capital of the company but also to be one of the main clients of Coinffeine in the future.
The Spanish bank Bankinter has invested in the capital of Coinffeine, through the Bankinter Innovation Fundation. With this movement, Bankinter becomes one of the first banks in the world dealing with Bitcoin ecosystem.
Funded last June by 4 engineers as the first company in the world using Bitcoin as social capital, Coinffeine is developing a distributed platform to exchange FIAT to cryptocurrencies in a secure and anonymous way, using your own bank account for sending FIAT money and transferring the bitcoins outside the bank, in a pure P2P way.
Coinffeine is a desktop application ‘like Bittorrent for your bitcoins’ and will be launched next January.
The big innovation here is the Coinffeine protocol, a mathematical model based on Game Theory. This protocol ensures the safety in the FIATBitcoin exchange without a trusted third party and in a automatic way, offering the same experience as a traditional exchange thought the transactions are really P2P.
The strategy of Bankinter with this movement is not only to participate in the capital of the company but also to be one of the main clients of Coinffeine in the future.
Coinffeine has been selected among the 12 most innovative startups in Spain at the stcimmersion.com to be presented this week at the Silicon Valley Forum -svforum.org- in San Francisco.