BIRMINGHAM, Alabama — The first exchange bank in the U.S. to accept bitcoin is expanding its trading capabilities and expects to become the largest bitcoin trading platform.
The BIRMS Exchange has expanded its trading capacity to handle bitcoin from $10 million in its current status to $150 million, said Jim Hulshof, BIRMs president and CEO.
It will now offer bitcoin trading and escrow services, Hulscof said.
Hulscob also said that BIRms exchange would become the first exchange in the country to accept debit cards.
“We’re expanding our capabilities to offer bitcoin debit cards to consumers and businesses,” he said.
“We will be providing debit cards as well as debit and credit cards through our digital wallet and in-app purchase platform.”
Hulshoh said that the bank will continue to provide a secure and private digital wallet for customers.
The bank also has partnerships with digital wallet providers such as Blockchain and Ripple to allow its customers to send and receive payments in digital currencies.
Hulspof said that bitcoin has been a growing part of the financial landscape, and he is optimistic that the digital currency will be part of mainstream commerce by the end of the year.
Bitcoin is a digital currency, Hulshof said, and the currency is not controlled by a central bank or central clearing house.
BIRM is the first U.K.-based exchange that has added bitcoin as an exchange option.
As part of its new platform, BISX will add bitcoin to its existing list of currencies and commodities.
The exchange expects to begin accepting bitcoin in the next few months.
Earlier this month, BBIX, a London-based exchange, launched bitcoin trading, adding it to the list of global exchanges.
The BISx platform offers trading in bitcoin and fiat currencies in an effort to make it easier for consumers and small businesses to access digital currencies, said BBIK.