Bitt Begins Caribbean Bitcoin Expansion in Trinidad & Tobago
The United States is just now getting its first Bitcoin exchanges via Bitcoin merchant leader Coinbase. The Winklevoss twins' will have their "fully-compliant" Gemini project up in New York later this year. Due to onerous state and federal regulations and costs for any financial services enterprise, the U. S. has been several steps behind the rest of the world when it comes to making a Bitcoin marketplace. Now, the tiny island nation of Trinidad and Tobago is about to quickly catch-up with the Western giant in the Bitcoin economic system. Bitt looks to be the Caribbean leader in Bitcoin....
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Another day, another warning on the perils of getting involved with digital currency from a central bank. This time around it's the Central Bank of Trinidad and Tobago, who's issued the following warning on the use of digital currencies, as reported by the print version of the Guardian TT (found here): Potential users of this product must be aware of the risks involved in investing in virtual currencies as regulators seek to establish appropriate frameworks to ensure the continued safe operation of the payments system and the smooth conduct of monetary policy. On the topic of regulation,....
Overstock announced a strategic investment in Bitt, a Caribbean-based fintech company whose goal is to persuade Caribbean island nations to adopt digital national currencies. The investment was announced at a media conference in Barbados hosted by Avatar Capital, which invested in Bitt, and attended by representatives from both Bitt and Overstock. Politicians and dignitaries from various Caribbean nations attended. “A major impediment to economic advancement around the world is the fact that the vast majority of humans are unbanked,” said Overstock CEO Patrick M. Byrne. “Yet mobile....
The company, which last week had announced a partnership with Bitcoin exchange BitStamp, revealed how it is planning to expand its services among the next-generation markets such as Bitcoin. Canadian online payment processor NetCents has indicated its entry into the Caribbean by partnering with Bitt Inc., a local digital currency exchange. The company, which last week had announced a partnership with Bitcoin exchange BitStamp, revealed how it is planning to expand its services among the next-generation markets such as Bitcoin. It had earlier raised investments from OverStock (NASDAQ:....
Blockchain technology can make a major impact on the world although the ramifications can vary greatly from country to country. Barbados is not a country most people would assume with the financial sector, but there is a growing FinTech scene in the region. Bitt is one of those companies who aim to become the settlement service of the Caribbean, and they are employing blockchain technology to achieve that goal. The name Bitt may ring a bell for people who are experienced in the world of Bitcoin and blockchain, as the FinTech startup has been chosen to revamp the financial industry in the....
Caribbean digital currency exchange Bitt has launched today, having secured $1.5m seed funding from local VC group Avatar Capital. The exchange, based in Barbados, is powered by AlphaPoint, an exchange technology platform provider that also offers its solutions to Bitfinex and Cointrader. Also a remittance channel and merchant processing gateway, Bitt claims to have implemented