Banks are both an enemy and the most significant obstacle to monetary freedom and the cryptocurrency movement.
The hard part is that people trust banks, and want them, but also know that they aren't looking out for anybody but their own best interest.
But, in the news today we've got a few banks that are looking to help out crypto advocates.
Let's dive into it.
Frick Bank of Liechtenstein Starts Direct Crptyo Investments and Cold Storage
For anyone looking to buy and hold cryptocurrency, we at GCA always recommend cold storage.
Our favorite method is the Ledger Nano S, which if you have over $100 in cryptocurrency, we recommend you get.
Although, with many people storing money in banks, a bank providing cold storage options is a major win for the community.
On February 28th, the bank announced that it would have "direct investment" and cold storage of Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum.
Their Chief Client Officer commented on them accepting and utilizing cryptocurrency services as a way to help support customer demands. Hubert Büchel said:
“This is because they know that we can offer them reliable support in implementing their business models with cryptocurrencies and blockchains in line with the existing regulatory framework.”
German Company Bitwala To Offer Crypto First Banking
Bitwala is a blockchain based company that allows users to pay with cryptocurrencies.Recently they announced that they would be setting up "crypto first" banking services that allow for international bank account numbers, SWIFT codes, Mastercard Debit cards, and complete banking services.
They even have up to 100,000 Euro by German deposit insurance, per the German Federal Financial Supervisory passing an applicant.
Which is huge for those who think that fraud or incurring losses may happen on their account.
Japan's SBI Delays Launch Of Cryptocurrency Exchange
On Tuesday SBI released a post talking about their plans to upgrade security before the launch of the cryptocurrency exchange.
Their site said(1):
“We decided that it will take some extra time to further strengthen security measures, assets management, and customer management systems to ensure the protection of cryptocurrency exchange users,”
The SBI Virtual Currency exchange is still set to launch soon, and after they partnered with Huboi to launch the exchange in early 2018, it should help the industry overall.
That's it for a quick update on banking news in cryptocurrency.
Thanks for reading,
The GCA Team
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Posted from my blog with SteemPress : https://globalcryptoacademy.com/liechtensteins-crypto-storage-japa-crypto-banking-bitwala/
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