Bank Frick Will Provide Direct Investments into Bitcoin and Ethereum

Bank Frick Will Provide Direct Investments into Bitcoin and Ethereum

Bank Frick became the first bank in the Principality of Liechtenstein, which allowed to conduct operations with cryptocurrencies through its platform, having made an important decision regarding trading cryptocurrencies. While many other banks classify cryptocurrency as speculation, for example in India and Brazil, Bank Frick is following a different path.

The main goal that the bank wants to achieve is to position itself as a promising structure capable of making significant changes within its system while maintaining a regulatory framework.

As mentioned earlier, Bank Frick became the first bank in Liechtenstein, which allowed itself to invest into cryptocurrency by partnering up with Bitcoin Suisse. Although this partnership has achieved great success and allowed investments to be made with relative safety, the bank still informs investors to be more cautious and not to engage in speculative investments.

The bank’s services are currently in demand throughout Europe, and this trend will intensify as the bank goes into the sphere of cryptocurrency trading.

According to Hubert Buchel, Chief Customer Officer: “This is because they know that we can offer them reliable support in implementing their business models with cryptocurrencies and blockchains in line with the existing regulatory framework”.

The service will allow you to purchase the five most popular cryptocurrencies; BTC, BTH, LTC, XRP and ETH. The benefit for the users of the bank will be that they will receive a guarantee of reliable means of protection against hackers and thefts. An additional level of security is also ensured by the fact that Bank Frick is regulated much more than any other online platform.

To date traditional investment into cryptocurrencies is associated with certain difficulties for ordinary people who are not very much involved in the process of buying, storing and selling their own cryptocurrency. Although platforms like Coinbase have done a great job to ensure ease of cryptocurrency assets management, nevertheless, the complexities still remain. Such financial institutions as Bank Frick simplify the purchase of cryptocurrency, due to which ordinary users can use anonymous money with minimal difficulties in understanding.

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Cryptocurrency Prices: The Rating Is in the Red Zone

Cryptocurrency Prices: The Rating Is in the Red Zone

According to the trading portal Coinmarketcap.com, Bitcoin (BTC) fell by 2.27% in the last 24 hours. The price at the time of writing is $8122.

The prices of cryptocurrencies are jumping again. Only yesterday they were growing, but today the rating is showing red numbers again. Ripple decreased by 3.27%, Monero lost 6.31%, Stellar fell by 5.10%, the price of EOS is also in the red zone – it dropped by 2.76%.

Ethereum is showing a fall by 2.95%. Its value at the time of writing is $682 per coin.

The total market capitalization is $370 billion. Bitcoin accounts for 37.3% of the total amount. It is $138 billion in monetary terms.

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The Japanese bank MUFG Will Launch Its Own Cryptocurrency

The Japanese bank MUFG Will Launch Its Own Cryptocurrency

After loud statements by Buffett and Gates concerning cryptocurrency, it seemed that at least the state institutions of countries would refuse from it, but a Japanese bank Mitsubishi UFJ Financial Group still decided to acquire its own cryptocurrency, MUFG Coin, in 2019.

“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided,” the bank’s spokesman said in an emailed statement to Reuters. “However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a blockchain technology.”

According to NHK Japan, the digital currency MUFG Coin will be tested for suitability in several regions of the country. 100,000 people who are associated with the company will be able to participate.

Representatives of the bank will provide an opportunity for users to use the cryptocurrency as a means to pay for goods and services in shops and institutions. The bank’s digital currency can be transferred to the accounts of those who participate in the project. If the idea is successful, then MUFG will be the first Japanese bank that has its own digital currency.

The MUFG coin can be used exclusively in Japan. In the world market it can be traded in pairs at non-financial currency exchanges instead of USTD (Tether cryptocurrency, tied to the dollar).

Those people who have downloaded and installed an application that automatically converts deposits into MUFG Coin will be able to take part in the test of the new currency. The cost of one coin is equal to one yen.

We remind you that the management of Mitsubishi UFJ Financial Group announced its intention to launch a  cryptocurrency exchange with the national currency, as well as a service with split Bitcoin-accounts.

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