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Big Day for Cryptos: Swiss Bank Adds Cryptocurrency Service

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When you think about the ultimate safety across banking institutions, the first thing that crosses your mind might be Switzerland is otherwise known as the home of the world’s safest vaults.

On the other hand, we have cryptocurrency and digital assets encountering huge NO in the world of banking and financial services where bankers are interested in blockchain technology but want to take their business further from the “new age money”.

Struggling with different regulations in highly regulated ecosystems that banks represent, the still unregulated currencies are struggling to get past that obstacle and get their place across global banks.

A Swiss bank, Hypothekarbank, has recognized the value of digital assets, so this was the result of that recognition.

Swiss Bank Adds Cryptos to its Services

Switzerland is known as a global leader across numerous banking institutions, as they have always been following up with the latest trends in the financial industry and banking. Once again, starting with a high authority Swiss bank, Switzerland has shown its readiness to adopt the latest trends, this time turning to the fintech industry.

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The bank that has successfully spotted the potential of the blockchain technology and cryptocurrencies is a 150-year-old bank stationed in Switzerland.

The bank named Hypothekarbank has most recently announced that they are going to release a series of services related to digital assets and cryptocurrencies.

This announcement came off as a bit off a surprise given the fact that adding cryptos to banking services is what the majority of banks are strictly avoiding, while it seems that they have nothing against the blockchain technology itself.

The Swiss banks, Hypothekarbank, is actually specialized in mortgage, however, their CEO stated that the bank feels ready to cooperate with blockchain startups and cryptos in Switzerland while aiming to implement cryptos into their services.

The service is said to appear in form of cryptocurrencies and digital assets for business purposes, while there will be cryptocurrency accounts available for service users in the area of blockchain business.

The CEO of the bank also stated that the bank is very well aware of the fact that there is a certain n level of risk that comes with the adoption of digital assets and cryptocurrencies, but she also added that the bank is ready for any case scenario.

More information is to be provided on the mentioned cryptocurrency-based services that are to become available for Hypothekarbank’s clients.

Crypto Revolution: Hypothekarbank is not Alone

Although Hypothekarbank has made a revolutionary move, especially on the behalf of cryptocurrencies, by adding cryptos to its banking services, this Swiss bank wasn’t the first private bank to make this move.

Another private bank located in Switzerland, called Falcon Swiss Private Bank, added cryptos to its services back in 2017 in April. For a year now, Falcon Swiss Private Bank is offering services related to Ethereum, Litecoin and Bitcoin Cash.

The offered service is dubbed Blockchain Asset Management Service and it allowed its clients to manage their BCH, ETH, and LTC.

Alongside this service, Falcon Swiss Private Bank offers Bitcoin-related services. However, Hypothekarbank is the first bank ever to offer accounts for blockchain business, while also inviting Swiss-based blockchain and crypto start-ups to cooperate with the management of Hypothekarbank.

The main reason why Hypothekarbank decided to offer this service to blockchain startups, alongside for being more benevolent towards cryptos in oppose to a great part of Europe and wider, is the fact that blockchain startups often find a hard time trying to open business accounts in Swiss banks.

This is no strange case since the regulations are being brought upon the cryptos by the governments and financial systems mostly due to the fear of having cryptos and blockchain networks being potentially used for money laundry and similar money-related illegal activities.

However, Hypothekarbank has seen the best in cryptos, and a stated is prepared for the risk that comes with digital assets. This bank is operating on the local basis and it can be found in the public listings, so Hypothekarbank will for now only cooperate with Swiss-based blockchain and crypto startups.

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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

DGB Price Prediction For 2018 and Beyond

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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Altcoins

Why ZCash (ZEC) Is Heading to $10k

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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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