Coinffeine appears to have pulled off the greatest international expansion by a Bitcoin company creating the first decentralized Bitcoin exchange platform operating in more than 70 countries.
After two months of preview, Coinffeine now allows the exchange of bitcoins and FIAT money in a P2P way and in a global market.
Coinffeine will use local payment processors such as PayPal to manage FIAT money and a desktop application to allow users to manage their own bitcoins without having to lose control over them at any time. The site uses the P2P model to avoid accepting deposits in bitcoins or FIAT money, making it unnecessary to identify users or fulfill costly money laundering laws in each country.
“Not having to identify users or enforce KYC laws has allowed us to design a much more scalable exchange model. But what is even more interesting, is the user experience we offer. Coinffeine is like BitTorrent. You just download it, you connect your OKPAY account, or PayPal in the future, and use it”, said Alberto Gómez Toribio, CEO of the company.
For the moment Coinffeine only supports Okpay, a Russian-based payment processor, but expects to integrate other payment processors like PayPal or Alipay to expand services to the rest of the world in the near future.