Founder: Prashanth Chandrashekar
Date Founded: March 2023
Location of Headquarters: Lithuania
Number of Employees: 3 full-time, 3 agreement employees
Website: https://bringin.xyz/
Public or Private? Private
Bringin is poised to streamline the procedure of surviving on a bitcoin basic throughout Europe. The platform uses a web application—and an approaching mobile app—that enables users to transform bitcoin from either a base chain or Lightning wallet into a virtual Visa debit card, which is accepted anywhere Visa is accepted.
The principle for Bringin was started by its creator, Prashanth Chandrashekar, following his own obstacles in transforming bitcoin into euros. He stated an experience from 2 years prior while living in Estonia when he dealt with hold-ups of almost 4 days to liquidate his bitcoin for euros in order to utilize them on platforms like Revolut.
Chandrashekar revealed, “That is why I aimed to develop a tool that facilitates the liquidation of bitcoin. Enabling instant conversion and usability of bitcoin is critical for its integration into the economy today.”
The service used by Bringin shares resemblances with existing platforms such as Bitrefill however identifies itself through boosted dynamism and performance.
How Bringin Operates
Bringin services all nations making use of the euro, making it possible for users to transform bitcoin in a Lightning wallet to euros in under a minute. In contrast, on-chain deals need roughly 10 minutes due to blockchain verification times.
To transform bitcoin to euros effectively, users merely pay a Lightning billing representing the quantity of euros they want to pack onto their virtual debit card, after which the euros are quickly offered for expense.
On the back end, Bringin appoints each user a virtual IBAN (International Bank Account Number), enabling combination with the SEPA (Single Euro Payments Area) system for cashless euro deals within the Euro Zone.
Through SEPA Instant Credit Transfers, which help with transfers as much as €15,000 in under 10 seconds, along with Lightning payments, users can accomplish fast conversion of bitcoin into euros.
Chandrashekar showed the service’s speed in a current social networks post, highlighting his experience of reserving a taxi utilizing funds from his Bringin debit card.
I simply Booked a taxi with SATs on my @getAlby node!
Using @bringinxyz debit card!
Living on Bitcoin requirement has actually never ever been much easier than now!
Pre-order one on your own today! You will get gain access to in days.
Link 👇 user code BTCTOTHEMOON to get 10% off 🚀 pic.twitter.com/fliHbS6Z6J
— Prashanth (@prashanthc123) January 31, 2025
While users need to finish a Know Your Customer (KYC) procedure to access the service, it is notable that Bringin does not hold user funds, offering the alternative for users to make use of non-custodial Bitcoin or Lightning wallets.
Chandrashekar elaborated, “You can use your Alby Hub and liquidate directly into the debit card using Nostr Wallet Connect (NWC). We’ve created a more direct link between self-custody wallets and bank accounts.”
The Development Journey of Bringin
Chandrashekar started the foundation for Bringin in September 2022, although official incorporation took place in March 2023. His prior experience consisted of work at Lastbit, which looked for to attend to a comparable obstacle.
“We were developing consumer-facing payment applications tailored for Europe,” Chandrashekar said. “The application allowed users to buy bitcoin instantly, make and receive Lightning payments, and we released a MasterCard debit card funded by Lightning transactions.”
However, due to different obstacles, the Lastbit task was eventually stopped. “Unfortunately, we couldn’t achieve scalability; we were ahead of our time and faced numerous compliance obstacles,” he revealed.
Determined to meet his vision, Chandrashekar transferred to Estonia with some associates from Lastbit, protecting the required licenses to develop Bringin.
“Lastbit pivoted from building a consumer application to focusing on infrastructure, providing tools for other companies,” he continued. “While I was assisting them with this transition, I recognized the need to create a consumer product to address the original goals of Lastbit.” This awareness caused the beginning of Bringin, focused on helping customers dealing with comparable obstacles as he had.
A New Generation of Exchange
Bringin serves not just as a bitcoin off-ramp however also as an on-ramp. “Users can utilize Lightning addresses to purchase Bitcoin,” Chandrashekar discussed. “For instance, users can go to Bringin, input ‘10 euros’, ‘[email protected]’, and after selecting ‘Send funds’, the sats will appear in their Alby Hub.”
This platform uses compatibility with any wallet that supports NWC, and Bringin prepares to broaden combinations, consisting of with the Blink wallet.
Chandrashekar conceives Bringin as a “third generation” exchange, differentiating it from previous types of exchanges. “Initially, exchanges operated by placing limit orders and checking order books,” he kept in mind. “The second generation comprised custodial mobile wallets like Venmo, which allowed for instant purchases of bitcoin.”
“Bringin stands out as a third generation exchange because it is not custodial, meaning users retain control over their funds even while facilitating instant transactions between banking systems and the Bitcoin and Lightning networks,” he mentioned.
The Future of Bringin
Chandrashekar imagines a future where Bringin can enhance its operations while expanding the series of services supplied. Currently, the business teams up with a partner entity for debit card issuance and management, however there are strategies to progress this element.
“At present, we function as a distributor and technology provider without a direct partnership with Visa, opting to white label our partner’s debit cards,” he discussed. “Ultimately, securing direct partnership with Visa is a goal.”
Chandrashekar also intends to onboard more merchants to make Bringin quickly integratable for organizations. “We have established integrations with BTCPay Server and Opago Pay, allowing merchants to accept Bitcoin payments and convert them instantly into euros via a Bringin IBAN account.”
In addition, he is pursuing collaborations with bitcoin loaning and financing platforms to broaden client offerings. “The objective here is to allow users to leverage their bitcoin as collateral for euro loans—something typically offered in US dollars or stablecoins,” he said.
Beyond these efforts, Chandrashekar stays devoted to improving Bringin’s on-ramping abilities. “Facilitating bitcoin acquisition into favored wallets is essential, and reducing friction in that process is a priority for us,” he asserted. “Our goal is to streamline bitcoin access directly into the user’s wallet of choice from their bank with minimal friction.”
Thank you for visiting our site. You can get the latest Information and Editorials on our site regarding bitcoins.
