Safello and Barclays Partner on PoC Bitcoin Payments for Donations

One of the three bitcoin-related startups accepted into the Barclays and Techstars Fintech Accelerator Program in London, was Swedish-based Safello. Speaking with Finance Magnates in March, CEO and co-Founder Frank Schuil explained that part of his firm’s development of an EU-based Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange has been the forming of financial relationships with traditional banks.

The goal of working with banks to broaden the appeal of bitcoins and make it easier for customers to purchase them, is continuing for Safello. Presenting today at the Barclays Techstars demo day, Safello announced that it has created a Proof of Concept (PoC) partnership with Barclays. Details of the partnership came as Schuil opened up his remarks to the audience by stating, “Who said bitcoins and bankers can’t be friends?"

According to Schuil, Safello and Barclays will be working together on creating a new payment platform that will support bitcoins. The collaboration begins with a PoC trial to allow for donations to be sent to charities using bitcoins.

Since going live with the details of the PoC, demo day attendees have been providing positive feedback of the partnership, being impressed with both Safello’s presentation and the initiative being taken by Barclays to work with a bitcoin startup.

Nice! @sytaylor and @FrankSchuil killing it Awesome design from @SafelloAB congrats on the partnership with @Barclays pic.twitter.com/RIheXj9FAi

— Nic Cary (@niccary) June 22, 2015

Barclays has signed a proof of concept with bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term platform @SafelloAB (a year ago bank execs panicked when u mentioned the Bword) — Anna Irrera (@annairrera) June 22, 2015

Frank, CEO of @SafelloAB, has made me want to get some Bitcoin. An incredible product! #BarclaysAccel

— Shane Wickramasuriya (@IronLantern) June 22, 2015

For Schuil, the announcement comes as the firm has been growing its user base since launching its bitcoin exchange. According to Safello, the firm has processed over $6 million in transactions and has 20,000 registered users.