CRYPTO NEWS: AMID THE CONTINUING MARKET DOWNTURN, BANKS ARE MOVING INTO THE CRYPTO SPACE.

AMID THE CONTINUING MARKET DOWNTURN, BANKS ARE MOVING INTO THE CRYPTO SPACE. THE MOST RECENT FINANCIAL ORGANISATIONS TO EMBRACE CRYPTOCURRENCIES ARE BRAZIL’S NUBANK AND GERMANY’S N26 MOBILE BANK.

AMID THE CONTINUING MARKET DOWNTURN, BANKS ARE MOVING INTO THE CRYPTO SPACE:

BANKS ARE MOVING INTO THE CRYPTO SPACE
BANKS ARE MOVING INTO THE CRYPTO SPACE

CUSTOMERS WILL BE ABLE TO PURCHASE AND TRADE 100 CRYPTOCURRENCIES THROUGH A SERVICE LAUNCHED BY BERLIN-BASED NEOBANK N26.

NUBANK, THE BIGGEST FINTECH BANK IN LATIN AMERICA, TOO JOINED THE TREND AND INTRODUCED ITS OWN CRYPTOCURRENCY IN BRAZIL. IT’S INTERESTING TO NOTE THAT THE BANK HAS FINANCIAL SUPPORT FROM BERKSHIRE HATHAWAY, THE GIANT HOLDING COMPANY LED BY RENOWNED INVESTOR AND CRYPTO SKEPTIC WARREN BUFFETT.

CRYPTOCURRENCY INTEREST “STAYS INCREDIBLY HIGH”:

SOME BANKS CONTINUE TO BE BULLISH ON THE CRYPTOCURRENCY INDUSTRY DESPITE THE FACT THAT IT HAS CONSIDERABLY DROPPED IN 2022. THE GERMAN N26 IS ONE SUCH INSTANCE, WHICH COLLABORATED WITH BITPANDA TO ENABLE ITS USERS TO TRADE 100 DIGITAL CURRENCIES, INCLUDING BITCOIN (BTC) AND ETHER (ETH).

THE N26 CRYPTO SERVICE WILL LAUNCH IN AUSTRIA BEFORE EXPANDING TO OTHER NATIONS OVER THE FOLLOWING SIX MONTHS. ADDITIONALLY, THE BUSINESS INTENDS TO EVENTUALLY INCREASE THE SUPPORTED TOKENS TO 194 IN THE FUTURE.

THE SERVICE, ACCORDING TO CHIEF PRODUCT OFFICER GILLES BIANROSA, “LETS CUSTOMERS PUT THEIR TOES INTO THE WATER IN A WAY THAT’S NOT FROTHY.” 

HE EXPLAINED THAT DESPITE THE RECENT CRYPTOCURRENCY WINTER, CUSTOMERS’ INTEREST IN CRYPTOCURRENCY AND OTHER ALTERNATIVE COINS HAS NOT VANISHED:

“CRYPTOCURRENCY INTERESTS OUR USERS GREATLY. EVEN IN A BAD MARKET, INTEREST RATES ARE STILL VERY HIGH.

ACCORDING TO THE EXECUTIVE, N26 IS OPTIMISTIC ABOUT THE FUTURE OF CRYPTOCURRENCY. HE INSISTED, “IT’S NOT LIKE WE’RE TRYING TO TIME THE DEBUT BASED ON HOW THE MARKET IS PERFORMING.

THE “EXTREMELY CLOSE WORKING RELATIONSHIP” BETWEEN N26 AND WATCHDOGS WAS EMPHASISED BY BIANROSA. THEY HAVE ALREADY BEEN TOLD ABOUT THE UPCOMING SERVICE AND GIVEN PERMISSION BY THE INSTITUTION.

BANKS ARE MOVING INTO THE CRYPTO SPACE

NUBANK’S ACTION:

ANOTHER PRESS RELEASE SAID THAT THE BRAZILIAN STARTUP IN DIGITAL BANKING, NUBANK, WILL INTRODUCE ITS OWN CRYPTOCURRENCY IN THE NATION. THE NUCOIN TOKEN, WHICH IS BASED ON POLYGON, IS ANTICIPATED TO LAUNCH IN THE EARLY HALF OF 2023. THE PLANNED OFFERING WILL BE “A UNIQUE APPROACH TO ACKNOWLEDGE CLIENT LOYALTY AND STIMULATE ENGAGEMENT WITH NUBANK PRODUCTS,” ACCORDING TO THE BUSINESS.

BEFORE THE PRODUCT IS OFFICIALLY RELEASED, THE COMPANY WILL CHOOSE 2,000 PEOPLE TO TEST IT OUT AND PROVIDE FEEDBACK ON ITS ADVANTAGES AND DISADVANTAGES.

NUBANK, WHICH HAS ITS HEADQUARTERS IN SAO PAULO, IS THE LARGEST FINTECH BANK IN THE REGION. IN BRAZIL, IT SERVES MORE THAN 52 MILLION PEOPLE, AND MEXICO AND COLOMBIA EACH HAVE ABOUT 1.5 MILLION SUBSCRIBERS.

STOCKS IN THE COMPANY WERE ACQUIRED BY WARREN BUFFETT’S MASSIVE INVESTMENT FIRM BERKSHIRE HATHAWAY EARLIER THIS YEAR FOR $1 BILLION. SINCE HE IS A VEHEMENT OPPONENT OF BITCOIN, THE CONTACT BETWEEN THE RENOWNED INVESTOR AND THE CRYPTO-FRIENDLY BANK SURPRISED EVERYONE.

FOLLOW US ON:

HARI INFO SECTION H.D.C.

FACEBOOK YOUTUBE

HARI DENTAL CARE

HARI WEB STORIES H-SHOPEE

HARI ENTERPRISES

CRYPTO NEWS: BINANCE TERMINATES ITS ACQUISITION OF FTX.


Central Government Jobs – National Aluminium Company Limited – Assistant Manager Job Post – December 2022.


CRYPTO NEWS: A PROBLEM WITH INVESTMENTS IN THE FTX LIQUIDITY CRISIS.


GOVERNMENT JOBS USA: ADMINISTRATIVE DEPUTY I | Los Angeles County.
CRYPTO NEWS: AMID THE CONTINUING MARKET DOWNTURN, BANKS ARE MOVING INTO THE CRYPTO SPACE.

Leave a Reply

Scroll to top
error: Content is protected !!