Potsdam - based Obotritia Capital has committed to fund loans worth € 5 m ( $ 5.5 m ) on peer - to - peer lending platform Bitbond , which uses the bitcoin currency for payment processing . The agreement also involves Obotritia buying a stake in the lending platform for an undisclosed amount . The loans are mostly used for inventory financing. Bitbond , which has originated € 1.4 m in loans since its launch in 2013 , said the funds would be used for product development and marketing , while CEO Thomas Albrecht said the company 's next step was to move further into SME financing .
Potsdam - based Obotritia Capital has committed to fund loans worth € 5 m ( $ 5.5 m ) on peer - to - peer lending platform Bitbond , which uses the bitcoin currency for payment processing . The agreement also involves Obotritia buying a stake in the lending platform for an undisclosed amount . Bitbond , which has originated € 1.4 m in loans since its launch in 2013 , said the funds would be used for product development and marketing , while CEO Thomas Albrecht said the company 's next step was to move further into SME financing .