Danish bitcoin exchange CCEDK has launched a decentralized multi-lingual fintech exchange OpenLedger to help convert the digital currency to cash.

The method used by OpenLedger implies converting bitcoins to fiat-pegged smartcoins and turning them into cash with the help of PayPal, Ripple, NanoCard, etc. 

The creators of OpenLedger claim that their project is the first of its kind, combining the strengths of digital currencies with accessibility of credit cards, while the biggest drawbacks of both systems are eliminated. 

The CCEDK CEO Ronny Boesing describes it as having one's savings always at hand and being able to use them anywhere in the world “at the speed of light, with dramatically lower fees than banks and exchanges have ever been able to offer”.

The project originated from the partnership of CCEDK with Cryptonomex, a company founded by the core developers of the financial smart contract platform BitShares, and thus is highly dependent on the said platform.

According to Mr. Boesing, BitShares gives CCEDK “the ability to share its order books and services with future partner exchanges and digital asset providers to achieve deeper markets, tighter price spreads, and a growing suite of innovative products and services”. 

The main goal of the OpenLedger project, the developers say, is to further improve connections between various financial products and platforms, which would ultimately help to break the final barriers in the way of the world's cryptocurrencies going mainstream.

In July, 2015 CCEDK launched its own bitcoin debit card ”NanoCard“ which provides an opportunity for money withdrawal from ATMs worldwide.

Maria Rudina