Why Silvergate’s CEO is Banking 15 Bitcoin Companies
Startups focused on products and services based on bitcoin have never had an easy time opening bank accounts – or maintaining positive relationships with those firms. The problem? Bitcoin-related clients are frequently viewed as high-risk by banking institutions, and thus far few banks have shown an interest in going through the process of mitigating that risk. This is a long-standing issue that has sparked controversy in the past, but given the broader issue of de-risking by banks worldwide, it's perhaps unsurprising that bitcoin startups would find themselves in the crosshairs of bank....
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Binance.US has joined the Silvergate Exchange Network (SEN), a 24/7 instant settlement network operated by Silvergate Bank.
Banking sector creates hundreds of job openings for experts in blockchain technology. There is no escape from the blockchain revolution. Banks and mainstream IT companies have realized it and they are making preparations to face the new wave. According to reports, companies have stepped up the recruitment process for blockchain technology related job positions. Online job portals are flooded with requirements from most of the leading banking, financial and technology firms. Surprisingly, most of the requirements are for newly created job profiles which were unheard of until now. With some....
Japanese regulations have restricted banks’ abilities to invest in fintech startups, including Bitcoin and blockchain companies. However, that is about to change. Japan’s biggest banks are now reportedly looking to pour hundreds of millions of dollars into fintech, including blockchain companies. Japan’s Banking Law Removes Funding Limits. The....
A new report from PwC claims that 83 percent of financial services companies believe specific aspects of their businesses are at risk to various fintech startups, with the number of worried management-level professionals reaching 95 percent in the banking sector. The PwC report is based on a survey of 544 CEOs, heads of innovation, chief information officers, and top management personnel in financial services companies from 46 countries around the world. While traditional financial services companies believe fintech startups could take hold of 23 percent of their business, the fintech....
CTS decided to halt its cooperation with several cryptocurrency companies in the Isle of Man. The reason is negative support from large banking corporations. As of next month, Capital Treasury Services (CTS) will cease to work with the digital currency business in the Isle of Man. An unexpected statement considering the strong support for cryptocurrencies that was given by Isle of Man's government. Unfortunately, there seem to be more requirements for a thriving cryptocurrency environment. CTS was active in the Isle of Man as a banking solution for several digital currency companies. As a....