Global Standard Bank, is an internet business that uses Bitcoin The New Cryptocurrency as its base currency. It was started in 2010 and publicly launched on July, 5 2011. Its representatives claim it to be the first bank for Bitcoin, and aim to bring Bitcoin to a mainstream audience
Deposit guarantee
Though its name contains the word "Bank", the company is not technically a bank. It promotes itself as a high security operation to protect against loss of Bitcoins from theft or hacking and state a "guarantee" of up to 5,000 Bitcoins per account against loss. However, Bitcoin is only a virtual currency, and Global Standard Bank is not a member of the Canadian Deposit Insurance Corporation, the government body that insures regular bank deposits. It is also not on the list of federally-regulated banks of the Office of the Superintendent of Financial Institutions.
Products and services
* Bitcoin Savings Accounts
* Bitcoin Exchange Services
* Merchant Services