Share this article
Fidor Bank, BIPS Team Up for Merchant Bitcoin Payments Initiative
BIPS has forged a new relationship with Fidor Bank to offer free SEPA bank settlements to merchants.
By Stan Higgins
Updated May 9, 2023, 3:02 a.m. Published May 27, 2014, 5:35 p.m.
Bitcoin merchant processor BIPS announced several upgrades to its business this week, including a new relationship with Germany-based Fidor Bank and an integration of the bitcoin payments protocol.
Working with Fidor Bank enables the company to offer free Single Euro Payments Area (SEPA) bank settlements to its merchant customer base.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to BIPS, this option was originally available to its customers in Denmark, though the company is focusing on the entire European market.
CEO Hans Heming said the association with Fidor is aimed at offering cheaper bitcoin payments processing to a broader merchant ecosystem:
"This is a continuation of our global rollout enabling merchants anywhere to receive payments faster and cheaper, and more bank partnerships are to come."
Notably, Fidor was the first bank to incorporate the Ripple payments protocol into its back-end systems, a decision announced earlier this month.
Greater bank involvement
Fidor enables BIPS to capture a greater marketshare in Europe. For Fidor, the move enables the bank to tap into the technological advantages offered by digital currencies, as evidenced by its integration of the Ripple protocol.
Heming also noted that BIPS is looking to forge new banking relationships in the future as it continues to push into new markets.
Payments protocol integration
BIPS has also joined a growing number of companies that have moved to incorporate the bitcoin payments protocol, a system for enhancing bitcoin transactions.
The payments processor deployed the protocol across all of its available service. The company's rivals, such as BitPay and Coinbase, are among those who have moved in recent months to integrate the protocol.
BIPS said that the move would make it easier for consumers to pay for goods and services using the digital currency, saying:
"The end result is beneficial for both the business and the experience of buyers resulting in more revenue to the merchant in the long run, and a much better bitcoin ecosystem."
Merchant on the telephone image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
JPMorgan Pushes Deeper Into Tokenization With Galaxy's Debt Issuance on Solana
Galaxy’s onchain debt deal, where JP Morgan acted as arranger, was settled in USDC stablecoin and backed by Coinbase and Franklin Templeton.
What to know:
- J.P. Morgan arranged Galaxy Digital’s commercial paper issuance on the Solana blockchain, one of the first of its kind in the U.S.
- Coinbase and Franklin Templeton bought the short-term debt instrument, settled in USDC
- Tokenization of real-world assets is gaining traction, with projections suggesting the market could reach $18.9 trillion by 2033.
Top Stories
