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BIT4YOU is the first Belgian exchange platform for bitcoins

BIT4YOU is the first Belgian exchange platform for bitcoins

Brussels, Wednesday 29 August – BIT4YOU has launched the first Belgian exchange platform for cryptoassets, of which bitcoin is the best-known example. The launch marks a new development in the world of Belgian fintech. The CEO Sacha Vandamme, a 24-year-old computer scientist, officially opened the platform today in the presence of Deputy Prime Minister and Minister of the Digital Agenda Alexander de Croo. De Croo had the honour of performing the first transaction.

400 billion euros of bitcoins are traded every month. The BIT4YOU platform offers a solution in line with Belgian legislation as well as the new European directives for combating money laundering and the financing of terrorism (AMLD5), which will come into force in 2019.

The project is supported by two entrepreneurs: Marc Toledo (Toledo Telecom) and José Zurstrassen, (Skynet, Keytrade Bank, Mymicroinvest). Together, they have over 50 years of experience in the Belgian technology world and were involved in the development of the mobile app itsme. Worldline will support BIT4YOU’s innovative payment technology, allowing platform users to pay with cryptocoins easily and safely using a payment card.

A new digital economy

Cryptoassets, also known as cryptocurrencies, form the heart of a new digital economy. In the near future, companies which operate in fields such as the internet of things, blockchain, biometrics or big data will increasingly use cryptocurrencies to finance and trade their services and products. These companies will use what are referred to as ‘tokens’ to sell their services. In order to convert tokens into traditional currencies, they will need platforms such as BIT4YOU. Before BIT4YOU, such platforms were only available abroad.

To boost its further growth, BIT4YOU is looking for around 12 staff in the near future. In 2019, the company aims to reach 50,000 clients and a turnover of 5 million euros.