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Coinzone to Launch a European Bitcoin Service with Banking Relationships

Op-ed - Coinzone to Launch a European Bitcoin Service with Banking Relationships

European Bitcoin payment processor Coinzone officially announced in a recent blog post that the company will be launching a Bitcoin wallet for its European customers. The announcement follows the recent launch of the company’s Bitcoin processing platform in the Czech Republic.

Like many others, Coinzone’s Bitcoin wallet will allow users to send, receive, buy and sell bitcoin on both mobile platforms and web browsers. Currently, the company is focusing on building country-specific features to allow users to withdraw and deposit through local banks.

CEO Manuel Heilmann stated, “We’ve developed Coinzone Wallet in response to an overwhelming demand from users seeking a wallet that stores their sensitive information locally in Europe.”

Heilmann added that there is a growing European demand for bitcoin, which means more consumers want a simple and secure way to make transactions.

For the past year, Coinzone has focused on offering payment gateways fully localized for each country that the platform supports, “compliant with all regulatory and data privacy laws.” Although the payment gateway will remain as one of its core services, Coinzone has a global vision to transform into a full-stack Bitcoin solution for the European market.

Launch at the Czech Republic

On April 20, Coinzone launched its Bitcoin merchant services in the Czech Republic, fully localizing the entire platform to allow merchants to settle all transactions, with local banking partnerships, in Czech koruna.

“The Czech Republic was a natural extension for our payment gateway due to the strong infrastructure that already exists within the country,” Paul Sylling, chief marketing officer and vice president of user experience told Bitcoin Magazine.

“Merchant adoption is growing fast, especially in Prague, and with eight ATMs, consumers have easy access to bitcoin,” he said. “We also look at other factors. The Technical University has a long-standing reputation for producing highly talented individuals that will start businesses and contribute to the growing economy.”

He also added that Coinzone tracks wallet downloads, search volume, and its own internal analytics, for which the Czech Republic always ranks near the top.

“In terms of banking partners, we don’t disclose them publicly, although it is our policy to have two relationships in place before launching in a country,” he said.