Founder: Prashanth Chandrashekar

Date Founded: March 2023

Location of Headquarters: Lithuania

Number of Employees: 3 full-time, 3 contract workers

Public or Private? Private

Introducing Bringin, a revolutionary service making it simpler than ever to adopt a bitcoin standard across Europe.

This innovative web application (with a mobile app arriving soon) allows users to quickly convert bitcoin from either a base chain or Lightning wallet into a virtual Visa debit card, usable anywhere Visa is accepted.

The brainchild of founder Prashanth Chandrashekar, Bringin emerged from his personal challenges in converting bitcoin to euros.

“Two years ago, while I resided in Estonia, my salary was in bitcoin, and it took nearly four days to convert that bitcoin to get euros into Revolut for use,” Chandrashekar explained to Bitcoin Magazine.

[Author’s note: When Chandrashekar mentions “liquidate,” he refers to changing bitcoin into traditional currency.]

“This experience prompted my desire to create a tool that simplifies the liquidation of bitcoin. I believe that instantaneous liquidation and usability of bitcoin are critical for integrating its value into daily life,” he added.

The solution developed by Chandrashekar and his team functions similarly to services like Bitrefill, yet with greater dynamism and expanded features.

Exploring How Bringin Operates

Bringin is available throughout all euro-using nations, enabling users to convert bitcoin from a Lightning wallet to euros in under a minute. In contrast, on-chain transactions typically last around 10 minutes, as they require blockchain confirmation.

For speedy conversion into euros, users simply need to pay a Lightning invoice based on the euro amount they wish to load onto their virtual debit card, and the euros will soon be ready for spending.

On a technical level, the process operates as follows: Bringin assigns each user a virtual IBAN (International Bank Account Number). This unique number interfaces with the SEPA system, which facilitates cashless euro transactions for users within the Euro Zone.

Utilizing SEPA Instant Credit Transfers—allowing transfers of up to 15,000 euros in less than 10 seconds—combined with Lightning payments enables users to exchange their bitcoin for euros with remarkable speed.

Chandrashekar further demonstrated the rapid nature of this process in a recent post on X:

I just Booked a cab with SATs on my @getAlby node!
Using @bringinxyz debit card!
Living on the Bitcoin standard has never been easier than now!
Pre-order one for yourself today! You will get access in days.
Link 👇 user code BTCTOTHEMOON to get 10% off 🚀 pic.twitter.com/fliHbS6Z6J
— Prashanth (@prashanthc123) January 31, 2025

https://platform.twitter.com/widgets.js

To access this service, users must complete the KYC process; however, it is important to note that Bringin does not hold any user funds, allowing users to opt for non-custodial Bitcoin or Lightning wallets.

“You can utilize your Alby Hub and directly liquidate into the debit card using Nostr Wallet Connect (NWC),” Chandrashekar elaborated. “We’ve established a more direct connection between your self-custody wallet and your bank account.”

The Journey to Creating Bringin

Chandrashekar embarked on the development of Bringin in September 2022, although the official incorporation didn’t occur until March 2023.

Prior to this project, he worked with the now-defunct Lastbit, which aimed to address a similar issue.

“We focused on developing consumer-oriented payment apps for Europe,” Chandrashekar recounted. “The app enabled instant bitcoin purchases, Lightning payments, and we launched a MasterCard debit card that could be funded via Lightning transactions.”

However, Chandrashekar noted that this project was ultimately abandoned due to several challenges.

“Sadly, we couldn’t scale the service effectively,” he stated. “We were ahead of our time, facing numerous compliance obstacles.”

Determined to continue his vision from Lastbit, Chandrashekar relocated to Estonia with some former Lastbit colleagues, acquired the necessary licenses, and began constructing Bringin.

“Lastbit shifted from creating consumer applications to becoming more of an infrastructure provider, offering tools for other companies to build upon,” he clarified.

“At that time, while still working with Lastbit on infrastructure, I realized the necessity of a consumer product that fulfilled the goals we initially pursued,” he added. “This inspired me to launch my own initiative to assist users facing issues like mine.”

A New Era of Bitcoin Transactions

Bringin functions not only as a bitcoin off-ramp but also as an on-ramp.

“Users have the ability to utilize Lightning addresses for purchasing Bitcoin,” Chandrashekar highlighted. “For instance, you simply go to Bringin, input “10 euros,” provide “prashanth@alby.com,” and hit “Send funds,” making the sats appear in your Alby Hub.”

(Users can connect with any NWC-compatible wallet. Bringin also supports transfers using Blink wallet and plans to widen its integration capabilities, as noted by Chandrashekar.)

Because Bringin enables seamless transactions between non-custodial wallets and traditional banking systems, Chandrashekar envisions Bringin as a “third generation” exchange.

“Exchange models have evolved significantly,” he remarked. “Initially, we had various exchanges where users would place limit orders and check order books for purchases. This evolved into mobile wallets, like Venmo, which relied on custody for instant bitcoin swaps—marking the second generation of exchanges.”

“Bringin represents a third generation exchange, as it does not operate as a custodial solution where funds are held by the exchange. It facilitates instant swapping while managing fund transfers between banking and Bitcoin and Lightning networks,” he explained.

Roadmap Ahead for Bringin

Looking ahead, Chandrashekar aims to enhance the operational efficiency of Bringin while expanding its service offerings.

Currently, Bringin collaborates with a partner to issue and manage its debit cards, but Chandrashekar aspires to change that.

“At present, we serve as both a distributor and technology supplier, lacking a direct partnership with Visa, which is why we use our partner’s white-labeled debit cards. However, we aim to build a direct relationship with Visa,” he outlined.

Chandrashekar is also eager to onboard more merchants, as the company has already simplified the process for businesses to adopt Bringin.

“We’ve established integrations with BTCPay Server and Opago Pay,” shared Chandrashekar. “This allows merchants to receive bitcoin payments and instantly convert some or all of it into euros via their Bringin IBAN account.”

Additionally, Chandrashekar is working towards collaborating Bringin with a platform for bitcoin lending and borrowing.

“The objective is to enable users to collateralize bitcoin and receive loans in euros,” he elaborated, noting that most lending services currently offer loans only in US dollars or stablecoins pegged to the dollar.

Beyond these initiatives, Chandrashekar remains dedicated to refining Bringin’s on-ramping technology.

“Getting bitcoin into your preferred wallet can be cumbersome, and there is significant friction involved,” he pointed out. “Our goal is to simplify access to bitcoin, allowing users to acquire it directly in the wallet of their choice without any barriers, straight from their bank.”