Heroes of Ukraine

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

Monday, 21 May 16:06 (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 »
 

Bitcoin Will Hit $20K, CoinShares Says

Publication date: 20 May 08:38 AM

German Stock Exchange Börse Stuttgart Welcomes Cryptocurrencies

Soon enough, maybe this fall, German stock exchange Börse Stuttgart is going to start working with cryptocurrencies. For that purpose, the exchange is expected to use its branch. Trading cryptocurrencies will be implemented through the Bison app. The expected trading turnover is around 100 billion dollars.

Publication date: 17 May 12:00 PM

Bitcoin Goes Down, Getting Closer to 8000 USD/BTC

Earlier today, the world’s first and most expensive crypto currency was going down while continuing the downtrend seen a day before. According to CoinMarketCap, the BTC exchange rate dropped below 8300USD/BTC, though it recovered a bit later on. Over the last 24 hours, the currency lost more than 5% of its dollar value. 

Publication date: 16 May 11:51 AM

Bitcoin Rallies Despite Criticism from Buffet and Gates

This trading week, Bitcoin is unlikely to conquer another major threshold located at 10000 USD/BTC. The thing is that some Bitcoin investors were cooled down by the statements made by investment guru and billionaire Warren Buffett, founder of Berkshire Hathaway, as well as by Bill Gates, founder of Microsoft and one of the richest people on the planet.

Publication date: 10 May 09:05 AM

Will Bitcoin Rate Exceed $10K This Week?

This week, the BTC exchange rate may well break above 10000 USD/BTC, most of the experts interviewed by PRIME think.

Publication date: 09 May 12:51 PM

Bitcoin Prospects Look Vague Against Altcoins

The situation in the global market of cryptocurrencies has been changing for a while. Bitcoin seems to be gradually losing its status of the world’s biggest and most popular digital currency.

Publication date: 05 May 10:53 AM

Bitcoin Exchange Rate Goes Up Rapidly, Over $9600 Already

Over the last few days, the Bitcoin exchange rate has been going up continuously. On Thursday, the rate conquered two strong levels of resistance at 9300 and 9400 dollars respectively. On Friday morning, the rate changed to 9600 dollars and continued its way up to new local highs.

Publication date: 04 May 02:08 PM

Sebastian Forbes: Global Banking System Lags Behind Cryptocurrency Era

10 years ago, nothing foreshadowed any changes in this area. 5 years ago, the first notes of change appeared. Today, the World Bit Bank project is ready to bring about major changes in this sphere. However, this will change your understanding of finances and banks.

Publication date: 03 May 09:36 AM

Masterforex-V Experts Name Most Successful ICOs in April 2018

Blockchain, cryptocurrencies, and all the related infrastructure have broken into our lives and have been dominating international headlines ever since. Despite the fact the technology is still in its infancy, many people all around the globe have been trying to make money by investing in related projects.

Publication date: 26 April 04:47 AM

Crypto Valley Association Gets Ready to Welcome a New Member

Crypto Valley Association is a cryptocurrency association backed by the Swiss government. It’s also known as Crypto Valley. The association is located in the center of Switzerland. It united the owners of leading cryptocurrency exchange tokens, including Bitcoin Suisse AG, Ethereum, Monetas, Xapo, and so much more.

Publication date: 26 April 12:48 AM