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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.

For the global insights every crypto trader must have, apply for Elite membership!

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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now

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After more than a year of declining prices, the crypto market is finally seeing a period of serious recovery — one that has already brought digital currencies to heights not seen in over half a year now.

Only days ago, Bitcoin surged past several major resistance levels and managed to exceed its yearly high of over $8,000. Already, many skeptics are predicting the soon end of the bull run, and the possibility of yet another sharp decline. However, there are signs that suggest otherwise — that this bull run is only getting started, and that it will not end anytime soon.

There are four reasons why this is the case, and they are as follows:

1) Bakkt

There is the long-awaited Bitcoin futures exchange, Bakkt, which recently announced that the July test date for Bitcoin futures is soon to be set. Bakkt’s launch was delayed multiple times already, so the announcement came as quite a surprise. However, it appears that it will happen quite soon, after all.

As soon as its arrival becomes a certainty, Bitcoin will likely skyrocket even further, just like gold did when gold ETF appeared in 2013.

2) Bitcoin completely ignored the hacking of Binance

Binance has been the largest crypto exchange by trading volume for a while now, and as such, many expected that, if anything were to happen to it, Bitcoin…

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The New Rally Has Arrived: Crypto Market Cap Goes up by $24 Billion Within a Day

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The crypto market’s recovery progresses further, and at a rapid pace, at that. Bitcoin has just surpassed the $8,000 mark, which is the first time its price has been that high since July of last year. In addition, the entire crypto market is making billions within hours.

Bitcoin (BTC) sees another serious surge

In the past 24 hours, the total crypto market cap has gone up by around $24 billion. Meanwhile, BTC price has grown by $1,000 within the same period, as the largest coin traded barely above $7,000 on early Monday. At the time of writing, the coin’s price sits at $8.014.31, with a 14% growth in the last 24 hours. Meanwhile, the BTC market cap has gone up to $141.85 billion, and even the coin’s trading volume surged to over $31 billion.

While many are wondering whether this is a return to the massive heights seen back in 2017 or only a temporary surge which will soon see a correction — no signs of an upcoming decline have been noticed as of yet. In fact, new heights were made and then exceeded multiple times in the past week, with a massive 33% gain during that time. And, with Bitcoin’s dominance at 60%, many are expecting that massive altcoin surges are to be expected as well.

The growth of altcoins can already be seen, as Bitcoin

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