LMB Holdings has announced the opening date of their new Cyprus Bitcoin branch to be February 24th, 2014. The retail branch is part of the NEO Bitcoin product offering and BEE Bitcoin payment network known collectively as NEO & BEE.
Cyprus was ravaged by a much criticized bail out when depositors of Cyprus banks were forced to take a 40% haircut on their deposits. It has been speculated that the March 2013 run-up in Bitcoin prices was due in part to the fear created by this Cypriot bail out.
As part of the launch NEO will be offering three types of wallets to customers: Instant-Access BTC Wallets connected to a Bitcoin spending card, Time-Locked Wallets that limit currency fluctuations and Merchant Wallets that allow Bitcoin payments.
The BEE payment network will allow physical retailers to use POS (Point-of-Sale) terminals to accept payment using a plastic card tied to a customer’s Bitcoin wallet.
Also in the works from NEO are Bitcoin ATMs, a Bitcoin Exchange and a worldwide Bitcoin sales network. With such a wide range of offerings NEO & BEE is positioning itself as a leader in consumer friendly Bitcoin products!