Firms offer transactions in bitcoins

A number of companies are offering Greeks a way around the capital controls imposed by the SYRIZA-led government with bitcoins. One company has been set up for that purpose in Ireland, while a German firm is also preparing to offer a similar service.

The first such enterprise to knock on the Greek market’s door was Spartan Route, whose website (spartanroute.com) states: “Spartan Route provides economic freedom for the Greek economy by purchasing your exports with Bitcoin. Deliver your goods as normal to your customer through your current supply chains. Spartan Route completes the sale cycle by invoicing your customers in euros.”

Spartan Route is not alone. Next week should see the arrival of Cubits, a firm that is already active in Germany and Britain. Its aim is to assist local enterprises in their international transactions, while its main associate in Greece will be Thanos Marinos.

Marinos is the owner of the first bitcoin exchange facility in this country, Bitcoin Greece (www.btcgreece.com), which began operating about a year ago.