The global P2P lending platform BTCJam now offers loans denominated in Indian rupees, Mexican pesos, Brazilian reals, euros, and Russian rubles.

Five new options have been added on BTCJam, says the company blog. It is now possible to take out loans not only in bitcoins and US dollars, but also in five other world currencies, namely the Brazilian real, the Mexican peso, the Indian rupee, the euro and the Russian ruble. Previously, only loans in bitcoin and in the US dollar were available. The addition of local currencies is supposed to simplify the loan process for borrowers.

According to the company, it could also help investors offset losses from local economic crises. If a user’s national currency is weak, they could connect to BTCJam and borrow money denominated in a more stable currency.

While it is possible to trade Russian rubles on BTC-e, Brazilian reals at Mercado Bitcoin, and Indian rupees at BTCXIndia, no other bitcoin company supports these currencies simultaneously.

BTCJam is a San Francisco-based P2P lending platform founded in June 2012. According to the company profile on LinkedIn, it “has served more than 100,000 users from over 200 countries”, having transferred $11 million in loans.

In the recent past, various bitcoin companies have begun to offer services in fiat currencies. As CoinFox previously wrote, BitReserve now offers to convert bitcoin accounts into six fiat currencies, having recently added the Swiss franc to the list.