UK Banks’ Anti-Bitcoin Stance Halts FIDOR Bank Expansion Plans

Many Bitcoin enthusiasts around the world will have heard of FIDOR Bank by now, one of Europe’s leading banks as far as digital currency is concerned.

In fact, FIDOR Bank recently partnered with Bitcoin.de – a leading European Bitcoin exchange – to offer instantaneous buying and selling of bitcoins. But FIDOR Bank’s expansion to the United Kingdom is not going as smoothly as they would like. In order for FIDOR Bank to expand to the United Kingdom, they will need to gain access to the current UK payment system infrastructure. В Unfortunately for Bitcoin enthusiasts, the UK is not keen on anything that has to do with Bitcoin or other digital currencies, and it looks like that stance will not be changing anytime soon. FIDOR Bank originally wanted to launch their services in the UK at the end of March 2015, but were never able to meet that deadline.

Not because of something wrong on their end, mind you, but rather because of the UK’s unwillingness to grant the German bank access to the country’s payment architecture. There is one thing you need to understand about the UK payment infrastructure, the four major UK banks [HSBC, Lloyds, RBS and Barclays] all have direct access to these systems. В However, none of those major banks want FIDOR Bank as a customer, thus the German bank can not gain access to the infrastructure – banks blocking another bank from stealing their thunder, who would have guessed.