Tag: Banks

Bitcoin has recently received more than usual attention from several traditional financial institutions, as it has managed to set yet another all-time high, breaking the confines of $50,000. According to a report by The Telegraph on Wednesday, Tom Robinson, the co-founder of Elliptic, the world's leading cryptocurrency compliance company, said that his company had witnessed a rapidly growing interest in global banks requesting access to the compliance risk of offering bitcoin services.  A Wave Of Demand For Bitcoin He said…

Payment processing giant Visa has announced that it is working on a crypto API program that will enable banks to offer cryptocurrency services. This was revealed in a press release on Wednesday and could herald a new era for the payment company.  Major Step Towards Crypto Integration  Visa has partnered with First Boulevard, a Kansas-based digital bank, to pilot the crypto API program. Bitcoin and crypto custodian Anchorage will hold the bitcoin and cryptocurrencies on behalf of Visa clients. The…

The chief executive of payments company Square and social networking platform Twitter, Jack Dorsey, is mapping out how smartphone features continue to pressure bank branches. The growth of fintech and the expansion of the cryptocurrency space will keep accelerating the digital world of moving money with more onramps, options, integrations and ease of use. This is why the future of local bank branches is questionable and financial professionals are showing concern and suggesting solutions. Dorsey spoke at the 48th Annual…

The cryptocurrency domain is fearful about bank-issued cryptos replacing Bitcoin as well as altcoins. Nevertheless, to ascertain the validity of the fear, it is necessary to consider some facts. First, bank-issued cryptocurrencies will be in charge of those who receive the cryptocurrency units and their purpose. On the other hand, Bitcoin is a decentralized currency. Bitcoin holders can determine its purpose and enable its use for the payment of goods and services, forwarded to people through remittance platforms, or one…

Laundering‌ ‌money‌ ‌through‌ ‌traditional‌ ‌banking‌ ‌systems‌ ‌has‌ ‌become ‌a‌ ‌common‌ ‌practice‌ ‌over‌ ‌the‌ ‌years.‌ ‌A‌ ‌report‌ ‌released‌ ‌by‌ ‌the‌ ‌United‌ ‌Nations‌ ‌office‌ ‌on‌ ‌drugs‌ ‌and‌ ‌crime ‌gives‌ an ‌account‌ ‌of‌ ‌unlawful‌ ‌bank‌ ‌transactions‌ ‌valued‌ ‌in‌ ‌trillions‌ ‌being‌ ‌carried‌ ‌out‌ ‌through‌ ‌the‌ ‌networks‌ ‌of‌ ‌traditional‌ ‌banks‌ ‌in‌ ‌a‌ ‌year.‌ ‌ However‌, when‌ ‌it‌ ‌comes‌ ‌to‌ ‌‌Bitcoin‌,‌ ‌there‌ ‌is‌ ‌a‌ ‌general‌ ‌belief‌ ‌that‌ ‌it‌ ‌is‌ ‌the‌ ‌preferred‌ ‌platform‌ ‌for‌ ‌criminals‌ ‌and‌ ‌con‌ ‌artists‌ ‌to‌ ‌carry‌ ‌out‌ ‌illicit‌ ‌transactions.‌ Even so, the number…

On 16 December, CipherTrace noted that major banks could be processing a maximum of 2 billion dollars in crypto-related transfers in its press release. However, these yearly earnings are never detected. CipherTrace is a blockchain intelligence company, and according to it, about ten major commercial banks in the US have unregistered crypto businesses; that use their payment networks in processing funds. The press release also pointed out that these unregistered crypto money service businesses (MSBs) are entities like cryptocurrency exchanges.…

Towards the end of the year, the CEO of Binance, Changpeng Zao, pointed out in a tweet that Bitcoin’s price potential is limitless. Bitcoin is one of the mainstream cryptocurrencies worldwide. Changpeng Zhao is of the opinion that the finite supply of Bitcoin dramatically contributes to its erratic nominal price. Changpeng also believes that Bitcoin has infinite potential over fiat currencies. The only thing limiting bitcoin is its limited supply. https://twitter.com/cz_binance/status/1206416065095299073 Bitcoin’s Volatility There’s no assured prediction of Bitcoin prices.…