Founder: Prashanth Chandrashekar
Date Founded: March 2023
Location The following are some examples of how to use Headquarters: Lithuania
Number The following are some examples of how to use Employees: 3 full-time, 3 contract wYou can also find out more aboutkers
Website: https://bringin.xyz/
Public or Private? Private
With Bringin, it’s now easier than ever to live on a bitcoin standard in Europe.
The Web app and soon-to be-released app for mobile devices allows users convert bitcoins almost instantly from a basechain or Lightning Virtual wallet Visa Card that works anywhere Visa It is acceptable.
Bringin’s founder Prashanth Chandrashekar The product was conceptualized after the designer struggled to convert bitcoin into euros.
“Two When I lived in EstoniaIt took me almost four days before I could liquidate my bitcoins and convert them to euros. Revolut to spend,” Chandrashekar You can tell them by clicking on the link Bitcoin Magazine.
[Author’s note: When Chandrashekar uses the term “liquidate,” he’s referring to converting bitcoin into fiat.]
“That's why I wanted to build a tool that allows users to liquidate Bitcoin. I think liquidating bitcoin instantly and being able to use bitcoin is one of the key factors for getting the value of bitcoin into the world today,” he added.
What Chandrashekar What he has built with his team is comparable to services like BitrefillIt has more capability, even though it is dynamic.
How Bringin Works
Bringin It is available in countries where the Euro currency is used. Users can convert Bitcoin into euro. Lightning In less than a minute, you can convert your wallet to euros. (OnChain transactions can take up to 10 minutes as the transaction needs to be verified on the Blockchain.
To Paying a small amount of money to convert bitcoins into euros is the most efficient way for users to do so. Lightning The amount they wish to spend on the virtual card is then charged as an invoice.
On The back end of the process is as follows: Bringin The company issues a virtual IBAN to each user.International Bank Account Number). This The SEPA number can then be used as an interface to the SEPA system. This allows users of the Euro Zone Make cashless Euro payments
Using SEPA Instant Credit TransfersIn conjunction with, enables transfers up to 15,000 Euros in less than 10 seconds. Lightning Payments users can quickly convert bitcoin into euro.
Chandrashekar In a recent post, X showed how fast this happens.
Users You must complete the KYC procedure to be able to use this service. Bringin Never custodie user funds. Bringing Non-custodial custody is an option for users Bitcoin You can also find out more about Lightning wallets.
“You Can you use your Alby Hub Liquidate directly to the debit card Nostr Wallet Connect (NWC),” explaYou can also find out more about the following:ed Chandrashekar. “We’ve created a more direct link between your self-custody wallet and your bank account.”
The Road To Bringin
Chandrashekar began developing Bringin in September 2022 (though, he didn’t incorporate until March 2023).
Before He worked for the now defunct manufacturer on this particular product. LastbitIt was designed to address a similar issue.
“We Payment applications are being developed for the consumer. Europe,” said Chandrashekar. “The The application allows users to instantly buy Bitcoin, send and receive Lightning Payments, we shipped MasterCard debit cards that were able to be funded by Lightning transactions.”
Chandrashekar Despite the fact that it was shared, the project had to be scrapped because of a variety of problems.
“Unfortunately, we couldn't scale the service,” he said. “We were too early, and there were a lot of compliance hurdles.”
Not Wanting to Give Up on Creating a Product Like Lastbit, Chandrashekar Moving to Estonia Some members of the Lastbit The team obtained all the necessary licenses to begin building. Bringin.
“Lastbit pivoted from building a consumer application to being more of an infrastructure company, providing tool links for other companies to build on top of it,” explained Chandrashekar.
SoI still worked with them at the time and helped with their infrastructure but felt the need to create a product for consumers that would allow people to do whatever they wanted. Lastbit initially aimed to accomplish,” he added.
“SoI left my job and began my own company to provide assistance for consumers. Bitcoiners who had a problem like mine.”
You can also find out more about the A-Team here. Third Generation Exchange
Bringin It is not just a Bitcoin off-ramp but it also serves as an on-ramp.
“Users Can use Lightning Buy Addresses Bitcoin,” explained Chandrashekar. “TodayYou can also go to Bringin, enter “10 euros,” “prashant@alby.com,” “Send funds” and the sats appear in your Alby Hub.”
(Users You can use any NWC-compatible wallet. Bringin Transfers can also be performed using Blink According to wallet, they plan to extend their integration. Chandrashekar.)
Because Bringin These seamless payments between wallets that are not in the custody of the bank and traditional payment rails can be made possible. Chandrashekar Conceptualizes Bringin as a “third generation” exchange.
“There have been multiple generations of exchanges,” he began.
“OriginallyWe saw all sorts of trades, where the buyer would place a Limit Order, then check out the Order Book and purchase. That It has now evolved into something like a mobile phone wallet. VenmoYou can instantly exchange bitcoin for a custodial currency. That was the second generation of exchanges,” he added.
“Bringin is a third generation exchange, because it's not a custodial solution where you put funds and then swap it and the bitcoin stays in the custody of the exchange. It The system allows for both instantaneous swapping and the movement of money from the bank to the Bitcoin The following are some examples of how to get started: Lightning networks.”
Bringin’s Roadmap
Moving forward, Chandrashekar Plans to streamline Bringin’s operations while broadening the services the platform offers.
Currently, Bringin The partner company issues and manages debit cards. Chandrashekar Would you like to make a change?
“Right now, we are a distributor and technology provider, and we don't have direct partnership with Visa, so we white label our partner’s debit cards,” explained Chandrashekar. “But We want our partnership to be direct. Visa.”
Chandrashekar The company is also looking forward to adding more merchants as it already makes it simple for companies to start using Bringin.
“We BTC integrations are availablePay Server The following are some examples of how to get started: Opago Pay,” said Chandrashekar. “Merchants Can receive Bitcoin Convert a portion or the entire payment in euros instantly via A Bringin IBAN account."
And Chandrashekar Working with a partner Bringin A platform for bitcoin lending and borrowing is available.
“The intent here is that the users can provide bitcoin as collateral and receive loans in euros,” he explained, adding that most Bitcoin The borrowing and lending service only offers loans in US currency or US dollar stablecoins.
Beyond These plans are a good start. Chandrashekar Continue to be motivated and improve Bringin’s on-ramping technology.
“You need to get bitcoin into your favorite wallet, and there's a huge amount of friction there,” he said. “Our intention is to get bitcoin to everyone by allowing users to get bitcoin directly into the wallet of their choosing with no friction whatsoever, directly from the bank.”
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