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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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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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