The company claimed it intended to let users in countries that lack a local credit score system to receive loans.

According to one source, BTCJam was "the first P2P lending platform to cross national borders successfully.

[2] BTCJam closed on 2017, claiming regulatory difficulties operating out of various jurisdictions.

[citation needed] By 2016, the company had serviced more than 16,000 loans across 121 countries, many in areas typically considered to be unbanked,[1] and had been described as "by far the largest microloan/microfinance site powered by Bitcoin.

[4] In March 2016, BTCjam stopped accepting customers from the United States for regulatory reasons.