Crypto Startup Circle in Talks With U.S. to Become Federally Licensed Bank
One of the most valuable cryptocurrency platforms is ready to become a ‘Guinea Pig’ for the U.S. regulators and break the ice between it and the crypto sphere.
Bitcoin, being the first decentralized digital currency as well as the payment system, has trully revolutionized the way people operate their finances. Being created in far 2009, this token has risen in value from mere $0.03 to more than $19000 per one.
The number of cryptocurrency enthusiasts increases rapidly, and, needless to say, all they want to manage their funds in a secure, trusted bitcoin-friendly banking environment. This makes the topic of bitcoin-friendly banking services kind of a corner-stone today.
Fortunately, advances in the world of fintech have produced a number of banking projects that are working toward providing crypto-friendly services for the entire community. Such projects include, but not limited to: Fidor Bank, a digital bank based in Germany, which promises to enable users to transfer money via email or mobile phone, providing a host for such banking options as saving bonds and crowdfunding investments; Bankera, UK based Bitcoin exchange, which is aiming to build a fully comprehensive digital bank providing payment accounts with personal IBAN, debit cards, interbank foreign exchange rates and payment processing; Monaize, a mobile e-banking platform, that seeks to cater to freelancers, entrepreneurs, and small enterprises in France and the UK by providing various needed business facilities; and others.
It should be noted, that despite Bitcoin’s rising popularity and ever increasing adoption, quite a large number of institutional banks (as well as governments as a whole) refuse to operate it. There might be several reasons for this. First, it is extremely volatile nature of the cryptocurrency, of course. Then, the fact that Bitcoin is considered by many to be a bubble, which will definitely burst in the near future. Security and scalability-connected issues also have great impact on the banks’ vision of Bitcoin’s adoption reasonability.
No doubt, successful transition from fiat currencies to cryptos will take time as it requires entirely new banking infrastructure, but even today we can surely state, that Bitcoin is here to stay, and those, who want to remain high, will need to adapt.
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