Cashaa, a cryptocurrency-friendly banking service provider, recently revealed that it’s introducing US dollar bank accounts for companies dealing in digital currencies. The new accounts are being offered through a partnership with Metropolitan Commercial Bank. (more…)
Cryptocurrencies have been getting more popular since the conception of bitcoin in 2009. Currently, there are over 2,600 cryptocurrencies available in the market, with Bitcoin as the leading cryptocurrency. Most users just buy bitcoin and then sell them. However, there are plenty of ways to use your bitcoin and other cryptocurrencies aside from the usual trading.
These ways include using your cryptocurrencies for payments, investments, remittances, loans, and humanitarian aid. (more…)
A descendent of the famed Renaissance banking family, the House of Medici, has launched a new bank in Puerto Rico with a pledge to accept business from cryptocurrency firms.
Medici Bank has been launched by Prince Lorenzo de’ Medici, and was “born out of frustration with the current financial services landscape.” According to the launch announcement this week, the bank will offer cheaper fees, faster services and greater transparency for its customers. (more…)
Puerto Rico Financial Commissioner George Joyner: “There’s a space for virtual assets that won’t go away”
George Joyner has Puerto Rico in his blood. The Commissioner of the Office of Financial Institutions is a veteran player who has spent his whole career in the fast-growing banking and, latterly, FinTech industry in the US territory of Puerto Rico, with the exception of two years in Florida. Born on the mainland, he was brought to San Juan as a six-month-old baby. Bilingual in Spanish and English, Joyner is an American and a passionate Puerto Rican.
Puerto Rico’s tax-favored status has proved attractive to both mainstream finance and players from cryptoland. Joyner understands and shares the local passion for growth, but as the gatekeeper of Puerto Rican standards, he will only allow growth to occur in the fashion he considers prudent.
Global investment platform, eToro, announced on Monday that its eToro Wallet mobile app is now allowing users to buy cryptocurrency with fiat. According to eToro, all cryptoassets available in the eToro Wallet (currently Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and XRP) may now be purchased directly in the wallet app using a credit or debit card (Visa, including Visa Electron and Visa Plus, MasterCard, Maestro, and Cirrus). At present purchases can be made in euros or pounds sterling. (more…)
By Michael del Castillio fr Coindesk
A consortium of over 40 financial institutions around the world is currently working on at least eight different proofs-of-concept (PoCs) to show how distributed ledgers can be used to streamline a wide range of transactions on Wall Street – and make them easier to regulate. (more…)
2015 was still a busy year for blockchain. Venture capital investments topped $1 billion for the first time. People are finding it easier to invest in the digital currency, thanks to the debut of firms such as Bitcoin Investment Trust. Big financial companies—Nasdaq, American Express and Visa— invested in blockchain startups, “a game changer in terms of attitude towards the technology”.
By Stan Higgins for Coindesk.com
Bitcoin surveillance startup Elliptic has raised $5m in Series A funding in a round that involved a private equity firm with strong US defense and intelligence connections. (more…)
By Pete Rizzo for Coindesk,
A new report by the Deloitte Center for Financial Services predicts that permissioned blockchain payment systems will see “significant transaction volume” by 2020. (more…)
Bitcoin has failed. Bitcoin is the future. Bitcoin cannot be regulated. Bitcoin needs to be regulated.
The debate over what will happen to the decentralized virtual currency has reached a cacophonous point, and now lawmakers around the world are wondering whether the time has finally come to regulate this emerging technology. (more…)
By Stan Higgins for coindesk.com
An IBM executive has been named as the chairman of the technical committee for the Hyperledger Project, the open-source blockchain initiative launched late last year under the umbrella of the Linux Foundation. (more…)
By Nicky Capella for The Stack magazine,
R3CEV, a startup dedicated to bringing blockchain technology to traditional finance, yesterday ran a successful test of transactions between 11 of the world’s largest financial institutions. This represents a big step forward in bringing blockchain, the foundation for Bitcoin, to traditional banking. (more…)