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Friday, 20 July 04:47 (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
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Extra info on The World Bit Bank
How to become a European bank co-owner?

 

 

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Bitcoin Gets Cheaper on News about Hacking Swiss Cryptocurrency Exchange Bancor

On July 11th, Bitcoin and other altcoins continued their downtrend started on Monday. International experts say that the biggest reason for that is the news on hacking a Swiss crypto exchange known as Bancor. In particular, they say, the hackers stole 23,5 million dollars in crypto coins.

Publication date: 12 July 11:32 AM

Bitcoin Rate Reaches 6700 USD/BTC

At the end of the trading week, the BTC exchange rate reached 6700 USD/BTC. The entire cryptocurrency market showed confident growth as well.

Publication date: 08 July 07:56 AM

This week Bitcoin may raise to 7000 USD/BTC

 This week, Bitcoin may grow in value all the way up to 7000 USD/BTC, some experts say. As you probably know, the past trading week wasn’t successful for the world’s first cryptocurrency, as well as for the rest of the crypto market. 

Publication date: 25 June 10:41 AM

UK to Start Litcoin Futures Trading

Starting from tomorrow, international investors will be limited only to buying Bitcoin futures. The thing is, on June 22nd, a UK-based crypto futures platform named Crypto Facilities launches Litecoin futures.
 
Publication date: 21 June 01:06 PM

Will Bitcoin Dive Below $6000?

Publication date: 19 June 12:42 PM

Today’s Bitcoin Rate Signals Growing Risks in Banking Sector

Yesterday, the BTC exchange rate suddenly started growing, probably as a part of a recovery move against the existing downtrend. According to CoinMarketCap, the current BTC exchange rate is somewhere above 7500 USD/BTC. Over the last 24 hours, the world’s first cryptocurrency has gained some 5%, trying to recover from May’s downtrend (in case you don’t know, the coin has lost 20% since early May before starting to recover yesterday).

Publication date: 31 May 08:33 AM

Bitcoin Goes Down Before Another Rally?

The BTC exchange rate keeps on going down while being driven by a number of factors and circumstances. International experts say that the price of the world’s first and most popular cryptocurrency is currently going down just to gain some momentum later and skyrocket to new highs.

Publication date: 29 May 11:19 AM

Masterforex-V Analysts name Successful ICOs in May 2018

For those of you who don’t know, an Initial Coin Offering (ICO) is all about raising funds. To be more specific, startups sell their underlying crypto tokens in exchange for existing crypto currencies, mostly Bitcoin, Ethereum and other altcoins out there. This resembles an IPO in the stock market where investors buy a newly offered stock.

Publication date: 23 May 12:14 PM

Bitcoin Will Hit $20K, CoinShares Says

Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages. 

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