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Coinbase Granted UK E-Money License & Bank Account for UK, EU Markets
Major cryptocurrency exchange Coinbase is making significant strides in its European expansion. San Francisco-based Coinbase has now received an e-money license by the Financial Conduct Authority (FCA), the UK’s financial regulator, enabling the cryptocurrency exchange to provide payment- and electronic money services as cash alternatives to customers in the United Kingdom and 23 countries within the European Union. Coinbase UK chief executive Zeeshan Feroz claims the license mandates Coinbase to comply with ‘strict rules’ enforced by UK regulators. In addition, Coinbase is laying claim to becoming the first cryptocurrency exchange to obtain its own UK-based bank account wherein Coinbase will...
Bitmain Wants to Create Private Central Banks on the Blockchain
There are always intriguing developments taking place in the cryptocurrency world. Bitmain, the world’s leading cryptocurrency mining hardware manufacturer, wants to invest in startups. That in itself is not surprising, but the company’s end goal is a bit of a surprise. They seemingly aim to create private central banks on top of blockchain technology. It is evident the terms “central bank” and “cryptocurrency” do not mix all that well. In fact, these terms are almost mutually exclusive, especially in a positive manner. That hasn’t kept companies from trying to build their own blockchain-based bank solutions, though. For some reason, Bitmain...
Brazilian State Bank to Tokenize Brazilian Real on Ethereum’s Public Blockchain
The Brazilian National Bank for Economic and Social Development (BNDES) is tokenizing the country’s national currency through ethereum’s public blockchain to increase transparency. “Any Brazilian can see the companies involved in the transaction and the transactions carried out. Critical information will not be stored in a database within BNDES. They will be public in the blockchain,” Suzana Maranhão, a member of the BNDES Token Team, says according to a rough translation. Sponsored Borrowers from the State Development Bank and those given grants will receive ERC20 Ethereum tokens called BNDES Token, each fixed at the value of 1 real. With the tokens being redeemable at will...
JP.Morgan finally declares cryptocurrencies are a threat to their business
Cryptocurrencies are indeed a headache for banks as more of them are now opening up to the threat it poses to their business and survival. JP.Morgan finally declares cryptocurrencies are a threat to their business for the first time in their annual report on Tuesday. Sponsored JP.Morgan has featured in many cryptocurrency related news in the past weeks and months mostly for the negative reasons. After calling Bitcoin a fraud, it was clear Jamie Dimon didn’t see a fraud but saw a real threat when he made that statement. On Tuesday, JP Morgan released their annual report where the bank...
Canada: TD Bank Bans Credit Card Purchases of Crypto Following Global Trend
Following in the footsteps of several major banks globally, the Toronto-Dominion Bank (TD), one of the largest banks in North America, announced in an email statement to customers on Friday, Feb. 23, that it is banning the purchase of cryptocurrency with credit cards, local journal The Globe and Mail reports. Sponsored A representative of TD, the first major Canadian bank to enact such a ban, said that the bank regularly evaluates its policies and security measures “in order to serve and protect our customers, as well as the bank.” TD’s move is part of a larger global trend of banks banning customers from credit card purchases...
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