BTCJam is one of those companies who have tried to mix traditional finance with the decentralized aspect of Bitcoin and digital currency. By offering personal loans to consumers all over the world, the company saw an opportunity presented by Bitcoin very few businesses were willing to explore at that time. But by the look of things, BTCJam is making some significant changes, and they will no longer be offering their services in the United States.
also read: Bitcoin Price Watch; Profit Target Hit! BTCJam Will No Longer Accept Investments from US Customers
At the time of writing, there was no clear indication as to why BTCJam is withdrawing their services from the United States. Speculation is running wild as this could be due to impending regulation , not enough personal loan volume generated by US Bitcoin enthusiasts, or bigger problems brewing behind the scenes at BTCJam. The cryptic message posted on their website is not helping matters much either.
BTCJam commented on the situation as follows: “BTCJam’s vision has always been to make credit affordable and accessible in emerging markets. We are deeply committed to this vision, and in order to fulfil it, we have made the difficult decision to discontinue offering the marketplace to borrowers located within the United States.” Granted, the United States can no longer be labeled as an “ emerging market ’ in the Bitcoin world, although there is still an apparent demand for personal loans. Whether or not this means BTCjam will be focusing their attention on new emerging markets, or just reduce the number of regions they operate in, remains unknown.
What BTCJam does well is provide consumers with cheaper access to money when they need it. Users can determine the amount of funds they need, and the time duration they expect […]
