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Bank of America starts Ripple and Stellar alike service for cross-bank operations

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Do you hold a Bank of America account? Merril Lynch, Merill Edge or US Trust? Well, if you do, blockchain technology has good news for you. Bank of America is deploying a new app to enable people to move the money among all those banks without the need for re-authentication.

This is a part of Bank of America’s new strategy to integrate fintech into traditional financial services. They are updating their services so they can provide “new, interactive ways” to use their Merrill Edge and Merrill Lynch accounts without cutting through any red tape. It’s all about giving their clients the ability to “investing on the go.”

Bank of America is serious about this. It even created a chief of digital banking who had this to say about the new development,

“We’re pleased to offer our nearly 26 million mobile users a new suite of innovative features.”

In Bank of America’s mind, its clients favor a full service that can manage their wealth without red tape. So much so, that most of those clients of theirs who own a million or more in assets wish to be able to transact between banks without cutting through red tape or paying fees. This app can do just that, and the ideal means is a mobile app. This mobile app.

Merrill Edge’s head, Mr. Aron Lvine said,

“Our research continues to underscore the growing importance of mobile technologies and financial planning across generations”

He added that,

“This is especially true for today’s millennials, as three-quarters believe that all financial decisions will be made with the help of technology in their lifetime, and approximately two in three are already turning to finance apps for guidance.”

The new app includes features such as personalized clash flow, biometric authentication, shopping cart, Zelle’s enhancements in P2P transactions, the Bank of America’s Digital Mortage Experience update, customizable alert configuration, redesign of statements and documents and rewards. It’s very complete.

And that’s just the beginning. Further features are about to come about, such as Bill Pay’s experience which will be available a little later this month.

All those features were available for online banking clients. Now, all you need to get them is precisely to have a mobile phone and an account.

And how is this relevant for the cryptosphere, we hear you ask? This is exactly the kind of platform that could be facilitated by either Ripple or Stellar. And, chances are, that’s exactly what will happen, given a little time.

Ripple’s and Stellar’s objective is, precisely, to make transactions among financial institutions very smooth, very cheap, and very safe. So Bank of America’s new initiative opens up a new window of opportunity for both projects that are just tailored for their systems.

Wall Street has been very reluctant to allow cryptocurrencies to enter into their world. Now they’re slowly realizing that they need the advantages they can get by adopting the blockchain.

They’re moving in that direction, and, sooner or later, they will realize that Ripple and Stellar have already done the work they need. They just need to accept it.

Keep an eye on the interaction between Ripple, Stellar, and Wall Street. Something will click soon, and then you’ll see how the token’s price will soar.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Reasons To Invest In Electroneum In 2019

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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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Blogs

TRON (TRX) Back In The Crypto Top 10

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For three weeks now, the crypto market was in a free fall. There was one moment when it seemed like the coins are finally bouncing back, and Bitcoin managed to climb back to $4,200. However, this uptrend was only temporary, and the coins dropped once again as December started.

Not a lot of coins are doing well these days, and almost every single one is trading in the red. Bitcoin is currently priced at $3,864, and the total market cap of the crypto space is barely over $123 billion. As expected by many, the bearish trend is still active, and seemingly at full strength. However, there are a few coins in the vast crypto space that are actually managing to grow in these unfriendly conditions, with the most notable one being TRON.

TRON on the rise

At the time of writing, TRON is also trading in the red. Although, only hours ago, this was not the case. Even now, TRX is losing only around 0.50% of its value, while all other coins around it are dropping by 4-5% on average.

TRON’s increase, while it lasted, was not big. However, considering the current state of the market, it was easily enough for the coin to make a big step, and actually improve its position on the list of largest cryptos. After months of waiting at the 11th spot,…

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