The Estonian-owned bank LHV launched cooperation this week with Coinbase, a Bitcoin broker looking to expand into Europe.

Bitcoin bills itself as a one-stop service provider that enables user-friendly transactions with the cryptocurrency, for both merchants and consumers.

Coinbase has only offered services in the US so far, but is considered reputable there, Eesti Päevaleht reports.

LHV will not start dealing directly with bitcoins or other digital currency but will serve as Coinbase's European bank.

When consumers want to buy bitcoins or other digital currency for euros, or merchants want to swap bitcoins for euros, the europayments will take place via LHV.