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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.

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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Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

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In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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