Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Tuesday, 21 May 01:11 (GMT -05:00)



Foreign exchange market

World Bit Bank Names Crypto Bank’s Key Goal and Prospects


The world’s first crypto bank – The World Bit Bank (WBB) – has reported about obtaining two major licenses, which are going to lay the foundation for providing authorized cryptocurrency-related services.
 
What do these EU licenses mean to the crypto bank’s activities?
 
Banking business is a specific area in global finances with increased responsibility, The World Bit Bank experts say. That’s why there is nothing surprising about the fact that the process of founding and legalizing a bank is rather long and complicated.
 
Any international or local financial regulator will issue a license only after thoroughly checking all the documents provided by the applicant. The regulator’s key requirement is the compliance of the bank’s possibilities and intentions with the national or international law and the watchdog’s regulatory documents.
 
As for The WBB, the situation got even more complicated since the regulators had to deal with using cryptocurrencies in conventional banking operations (credits, financial transactions, currency exchange etc.) for the first time. According to Mattia Rottaggi from Crypto Valley Association (Switzerland), the legal side of the matter is the very thing that is going to lay the foundation for the new future of digital currencies. So, everyone knows how important it is to do it.
 
This is one of the reasons why the WBB team was so proud to announce that they had obtained the first two licenses. These are significant documents from an international regulator allowing the bank to manage crypto assets and render related services to crypto holders.
 
The first license – Virtual currency against fiat currency exchange license – gives the bank the right to offer the client a virtual currency wallet (an e-wallet). The second license – Virtual currency wallet service license – allows the bank to exchange cryptocurrencies for fiat money.
 
The next stages of developing the EU’s first cryptocurrency bank
 
This was the first item on the list of the bank’s business plan. It was successfully completed by the Wibcoin developer team in time. Now the team is going to proceed to the next steps through revealing the business plan:
- Wibcoin pre-ICO – late April 2018
- developing, testing and putting into operation the software and tools backing the cryptocurrency transactions.
- ICO to collect enough money to develop an international banking network.
- acquiring 9 functioning banks in Europe, North and Latin America, Asia, Japan and Australia and rebranding them to make them a part of the WBB network.
 
On top of that, the Word Bit Bank project implies creating a complete closed cycle of cryptocurrency services, which is why The WBB will also expand at the expense of a crypto exchange, crypto fund, insurance and leasing companies. Such a financial holding will make it possible to serve international customers in a comprehensive, efficient, and secure manner.
 
According to Robert Kiyosaki, we are slaves to our habits. So, if we change our habits, our lives will definitely change as well. What are the major achievements of such international brands as Google, Apple, Facebook, Tesla, Bitcoin, Ethereum and others? They gave people some freedom by letting them break away from their old habits and opening new horizons for them.
 
What’s offered by The World Bit Bank? The same “revolution” in using cryptocurrencies by moving their usage by millions of miners and investors to the legal side, with legal assurance and guarantees offered by a European bank.
 
According to Masterforex-V Academy experts, this is a decent and wide-scale idea. Obtaining major banking licenses by The World Bit Bank is the world’s first officially documented success in this field. This testifies to the right choice made by the founders as well as a lot of big steps made in the right direction. These licenses give the Wibcoin investor certain guarantees and show that the wbb.io team has been good at sticking to the plan.
 
In order to fulfil those ambitious plans, the WBB crypto bank is yet to complete hundreds of current tasks to persuade the community that the team has been moving closer to reaching the goal step by step, which means that the Wibcoin token will grow in value
________________________________________________
Extra info on The World Bit Bank
How to become a European bank co-owner?

 

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Forex and Cryptocurrency Forecast by NordFX. May 20-24, 2019

Roman Boutko, an analyst for NordFX, has come up with another consensus forecast for the forex and cryptocurrency markets for the forthcoming trading week starting on May 20, 2019.


Publication date: 20 May 03:50 AM

U.S. Sanction Trap For Russian Rouble

It's not a secret that the amount of sanctions against Russia has been growing over the last few years. At the same time, experts are losing faith in the stability of the Russian Rouble. Washington is discussing more and more variants to impose even more sanctions on Russia to undermine its economy and national currency.

Publication date: 18 May 03:25 PM

Facebook articles contest from FortFS

FortFS offers you to show off your writing skills and compete with other traders for a prize fund of 1000 USD, which will be distributed among the authors of the most interesting articles about our company!

Publication date: 18 May 12:24 AM

BTC Market Will Set New Highs In 2020

Tom Lee, Chief Analyst for Fundstrat Global Advisors, has recently shared his optimistic view on the future of Bitcoin (BTC). In early May, he said that the BTC exchange rate is undervalued and, given some fundamental factors, it should be somewhere around 14K dollars per coin. At this point, he thinks that the current all-time highs may well be renewed this year. This means BTC prices above $20K per coin and market cap well over 830 billion dollars within the next 20 months.

 

Publication date: 15 May 10:05 AM

U.S. Unemployment Rate Drops To Nearly 50-Year Low

The U.S. Department of Labor has released another unemployment reports. For the first time in over 49 years, the unemployment rate dropped all the way down to 3,9%. For the most part, this has to do with a considerable decline in the economically active population.

Publication date: 13 May 11:22 AM

Six main components of Alpha Bonus from FortFS

From 06 of May till 07 of June 2019 become the owner of a unique artifact called Alpha Bonus and subdue the financial element!


Publication date: 13 May 01:40 AM

Bitcoin Reaches 5-Month High

The cryptocurrency has been maintaining a stable bullish trend. over the last few days, the market cap has exceeded 185 billion dollars. According to CoinMarketCap, the market cap used to be 179 billion dollars on Tuesday. Over the last few days, the cost of all the cryptocurrencies circulating in the global market has grow considerably. 

 
Publication date: 27 April 10:24 AM

ETH's At Local Highs: What's In For Ethereum And ICO?

Ethereum is back in the game! It's currently trading around 5-month lows. Still, the market seems to be showing some confidence that the coin has already overcome its existential crisis and managed to recover from crisis that started after the ICO bubble burst in 2018. Will ETH and ICO revive?

Publication date: 17 April 10:42 AM

NordFX Shares Another Forex and Cryptocurrency Forecast for Mid-April 2019

The balance of powers in the international currency market (also known as forex) influences many contemporary tendencies in the entire world. At the same time, traders and investors rely on accurate forex forecasts to earn money. That is why we keep on publishing those weekly consensus forecasts, courtesy of NordFX.
Publication date: 15 April 10:54 AM

Weekly Forex and Crypto Prediction by NordFX. Mid-April 2019

Any exchange rate between any two currencies is the result of multiple factors affecting the currency pair at any given moment. At the same time, those exchange rates themselves are actually capable of affecting other processes important to specific countries and even the entire world.

Publication date: 09 April 11:01 AM