March 4, 2019
We have gathered the Top 10 banks that stay ahead of the industry and offer advanced blockchain solutions for investors.
In December 2018 British fintech startup Revolut obtained a license to provide banking services in Europe. The application was approved by the European Central Bank, the company said. Initially, Revolut customers in the jurisdictions with which the company works will be able to deposit up to 100,000 euros insured through the European Deposit Insurance System. In the future, the company plans to introduce measures to protect against overdraft, as well as provide traditional individual and corporate loans.
Founded in 2015, the startup has attracted about $ 340 million of investment, which raised the company's capitalization to $ 1.7 billion. Its customer base includes more than 4 million users who can spend money and send international money transfers at real exchange rates, control budgets and make savings.
In 2017, Revolut added support for cryptocurrencies. Initially, it was Bitcoin, Ethereum and Litecoin, and in May 2018, Ripple and Bitcoin Cash were added to the application.
Falcon Private Bank has declared an ambitious goal to become the preferred partner for traditional and blockchain banking in Switzerland and it is moving fast towards that goal. In 2017 Falcon Private Bank was the first Swiss bank to launch a wide range of services for cryptocurrency holders: investments in 4 coins such as Bitcoin, Ether, Bitcoin Cash and Litecoin; purchasing, storage, selling and financial reporting of blockchain assets; depositing of funds generated by crypto assets as well as their conversion into fiat money.
The Bank offers all types of cryptocurrency investors advanced solutions for digital assets that are compliant with regulatory rules, customer-oriented and have proved to be secure. The option to make direct transfers of chosen cryptocurrencies to and from segregated Falcon wallets is a big advantage to any cryptocurrency holder. The Bank has developed its own cold storage solution that gives its clients a chance to manage their assets without worrying about their safety. Whether you want your bitcoins to be exchanged for fiat money or send to a somebody’s personal wallet, with Falcon Private Bank its easily done. As Katie Richards, Falcon’s Co-Head Digital Assets, has put it: “Your blockchain assets are fully bankable instead of being held on your private wallets”.
Clients of the digital bank WB21 are able to use bitcoin to make instant transfers from bitcoin to any of the 18 currencies that are in circulation in the bank’s system. For this, WB21 uses BitPay, the leading online payment processing platform. Most likely, customers of the system will be able to conduct Bitcoin transfers without the need for confirmation, which will significantly speed up financial transactions. WB21 founder and general manager Michael Gastauer states that WB21 looks at them as a way to provide a greater range of services to the bank’s customers, as cryptocurrencies are immune to the problems of international transfers and all sorts of regulatory legislation.
As far as we know, this is the first German bank that entered into cooperation on bitcoins with the crypto trading platform Bitcoin Deutschland AG. The cooperation concluded between Fidor Bank AG and the leading German Bitcoin trading platform shows that banks can easily enter the Bitcoin market with the help of suitable contractual structures and at the same time reduce legal risks to an acceptable level.
Bank Frick is a bank based in Liechtenstein, which was the first to allow customers to make direct investments through cryptocurrencies. It also provides its customers with protection from potential hackers through cold storage wallets.
Frick allows you to trade in five digital currencies, including Bitcoin Cash, Bitcoin, Litecoin, Ripple and Ether.
Goldman Sachs, a large US investment bank, began to attract a limited number of its clients to launch Bitcoin derivatives, which will be settled in fiat. The tool will be similar to cryptocurrency futures from the CME and CBOE platforms, but it will not be traded on the stock exchange, according to information from The Block. The clients of the investment bank will meet with management in order to discuss the prospects for the cryptocurrency market and the possibilities for participation in it. In September, the network reported that Goldman Sachs abandoned the idea of ??creating a cryptocurrency trade unit, but the CFO denied this information, calling the news fake.
Change is a blockchain project founded in Singapore in 2006 which raised US$17.5 million in ICO in 2017. Its aim is to make banking functions available to altcoin users, while the ultimate ambition is that Change becomes the “one-stop shop” for cryptocurrency owners throughout the world. At present the company is offering a wallet for the storage of altcoins, providing an altcoin spending card, and offering a marketplace that will aggregate the best investment and insurance opportunities and onboarding them on a single platform. According to the projects’ Roadmap Change will target to receive the banking license in 2020.
Simple bank is most probably the number one choice for any bitcoin holder. The bank is famous for its collaboration with largest Bitcoin exchange websites and allows direct buy-sell transactions for bitcoin. As opposed to traditional consumer banks, Simple bank doesn’t have any branches, one can visit – it is an online banking system an account-holder can access through Simple.com or mobile apps for Android or iOS.
Ally bank is another online bank which is quickly developing its services for cryptocurrency holders and striving to be in the top of Bitcoin-friendly banks. The bank has easy-to-reach tech support, which is a big advantage for online banks as well as an online chat feature that has very short wait times (usually 2-5mins).
In 2012 one of the oldest online Bitcoin exchanges Bitcoin-Central.com received a banking license. It is first exchange to function in compliance with European regulation that guarantees the fiat deposits of its users. Bitcoin-Central, and its parent company, Paymium, offers its customers a Bitcoin account as part of a partnership with the French financial firm Aqoba. The account can be used to buy Bitcoin with PSC Mastercard or with Paysafecard; withdraw Bitcoin with Skrill and Paypall; convert Bitcoin to euro or dollar and many other options.
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