USAA examining Bitcoin technology for process optimization
Texas-based financial services institution, USAA, is reportedly examining the Bitcoin technology for further optimization of the processes. Managing director of corporate development at the financial services firm catering to the current and the former members of the US military, Alex Marquez, said that, "the company and its banking, insurance, and investment management subsidiaries hoped the blockchain technology could help decentralize its operations such as the back office." USAA has created a large team of professionals to study the potential benefits of the blockchain technology,....
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USAA is expanding its bitcoin integration by allowing all accountholders to connect and view balances on Coinbase from its USAA.com website following its November pilot program. In a post today, USAA called the pilot run successful and stated that support for the mobile app would likely be rolled out in March. Both USAA.com and the USAA mobile apps were part of the initial trial. In statements, lead investment associate at the USAA corporate development Jon Cholak, indicated his support for the more widespread rollout, positioning his firm as an early advocate for the technology. Cholak....
Just hours after announcing that the Texas-based diversified financial services group USAA has in partnership with Coinbase, launched a pilot that allows a randomly selected, limited group of USAA members to view their bitcoin balance on USAA.com and the USAA mobile app, the Bitcoin wallet and instant exchange company has received an overwhelming number of requests from unselected USAA members. The pilot was initially rolled out to USAA employees in September. NEWSBTC.com has learned that the program will run for approximately 90-days from 11/2/2015 - 1/29/2016. On being asked about the....
Following an initial pilot run which saw select USAA employees and members view their Coinbase accounts via the website and the mobile application, the USAA is now expanding bitcoin integration via Coinbase for all member accounts. In a post yesterday, USAA announced that all account holders will be able to view their Coinbase accounts in tandem with the rest of their USAA accounts and financial services on the USAA website. Support for the mobile application will be available later this month, although both website and the application were a part of the November 2015 trial. Jon Cholak,....
US insurance giant USAA has reportedly begun investing resources into exploring how to incorporate blockchain technology into its infrastructure. As reported by Reuters, USAA is in the early stages of seeing how distributed open ledgers could be applied to its business. The company "has yet to identify how it will implement the technology", according to the news service. However, USAA managing director of corporate development Alex Marquez said it may examine how blockchains could potentially decentralize its back-office operations. Marquez told Reuters that the company has a "serious....
USAA's recent entrance into the bitcoin space may have been driven, in part, by interest in the technology among its own membership. The Fortune 500 financial services company, based in Texas, was among a diverse group of investors that took part in Coinbase's $75 million Series C funding round, which was announced earlier this month. USAA, founded in 1922, focuses primarily on the US military and veteran market. The financial group's head of corporate development, Vic Pascucci, said that USAA envisions digital currencies playing a possible role in future services, and cited internal data....