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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

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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