New Banking Partner for Bitfinex: HSBC Replaces Noble Bank

2018-10-8 12:03

Having experienced an enormous hype in the end of 2017, cryptocurrencies have become a real phenomenon in today’s world. Now they can boast attention not only from the side of crypto enthusiasts and tech startups but also from the side of traditional financial institutions and banks that are becoming more and more interested in establishing partnerships with crypto businesses and exchanges.

The latest news on this issue was received from the Hong Kong-based Bitfinex, one of the leading crypto exchanges in the world. According to the announcement, it obtained a new banking partner. It is HSBC, a $133 billion banking giant based in London.

“Bitfinex is now banking with HSBC through a private account of Global Trading Solutions. Very good fit if you ask me. It’s also worth mentioning that all EUR, JPY and GBP deposits are paused but Bitfinex ‘expects the situation to normalize within a week”, reported Larry Cermak, former editor at Diar and head analyst at The Block.

Earlier, Bitfinex was a customer of Noble Bank, based in Puerto Rico. But when the banking institution has found itself practically on the brink of bankruptcy, the crypto exchange took a decision to quit these business relations. Namely this situation has made Bitfinex temporally halt its Euro, Japanese Euro, and Great British Pound deposit services.

Nevertheless, the exchange’s partnership with Noble Bank wasn’t a long-lasting one. The information about Bitfinex’s cooperation with this bank to process transactions sent by its clients was revealed only in May 2018.

Being one of the oldest cryptocurrency exchanges, Bitfinex has experienced a number of difficulties with authorities and banking institutions on different markets. Bitfinex had some conflicts with Taiwanese banks and even had a legal battle with the US-based Wells Fargo due to the fact that the banking giant had blocked deposits to the exchange’s banking account which had disrupted its operations.

After some unsuccessful attempts, now Bitfinex has chosen its new banking partner that is believed to be a really appropriate one. This partnership (if it takes place throughout a long time period) is able to enhance a level of stability of the exchange’s operations and bring more confidence to its clients.

Though it may really be a big deal, speaking to the media Kasper Rasmussen, director of communications at Bitfinex, didn’t give any comments on the details of this partnership with HSBC:

“Bitfinex does not, and has never, commented on actual or potential business relationships.”

Nevertheless, it’s worth mentioning that a great number of crypto exchanges providing their services on such markets as Japan and South Korea have already established cooperation with major financial institutions and leading banks to receive high quality banking services which could ensure their seamless functioning. So, in general this partnership between Bitfinex and HSBC can potentially bring a significant positive impact on the crypto market and its stability.

The post New Banking Partner for Bitfinex: HSBC Replaces Noble Bank appeared first on CoinSpeaker.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.01 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0101024 (-100%)

bank banking bitfinex new replaces noble partner

bank banking → Ðåçóëüòàòîâ: 126


Ôîòî:

Banking On A Decentralized Bank

Last week Binance made headlines by announcing its first foray into banking. For a price of $133 million, the exchange had acquired a 5% stake in Malta’s future “Founders’ Bank.” Ordinarily, an investment by one moneymaking organization into another would scarcely deserve mention, except for one fact: ownership of Founders’ Bank will rest on the […] The post Banking On A Decentralized Bank appeared first on Crypto Briefing.

2018-7-20 20:23


Ôîòî:

In Finance Malda, supporting the first authorized bank of the word

Malta-based Founders Bank is to become the first community-owned decentralized blockchain-friendly banking institution in the world’s history. As it has been announced, one of the world’s major cryptocurrency exchanges by traded value Binance will become one of the key investors funding the launch of the first-ever decentralized bank. The future Founders Bank will be hosted

2018-7-13 14:16


Ôîòî:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


India’s Cryptocurrency Banking Ban May Be a Bust

After much waiting and speculation on the July 5 deadline, India may forgo banning investment in cryptocurrency after all. Indian Ban May Be a Bust The three-month time span from the Reserve Bank of India’s initial announcement that all RBI regulated entities must cease any crypto related activities, including both individuals and firms, was filled with speculation.

2018-7-11 15:00


South Asian Banking Ban dealine around the corner, causing Zebpay exchange to stop.

One of India’s largest exchanges Zebpay announced it was freezing Indian rupee deposits and withdrawals July 4, a day before a controversial bank ban on cryptocurrency businesses comes into effect. “INR deposits and withdrawals have been paused in the Zebpay app until banks allow us again,” an update to the original warning reads. On Tuesday,

2018-7-5 21:00


Ôîòî:

Indian Supreme Court attended Crypto Petition but Upholds RBI Ban – Will get effective in 2 days.

Regulation The Indian Supreme Court heard one petition against the crypto banking ban by the country’s central bank today. Japan Confirms Entrance Into the Crypto Space No Stay Granted by Supreme Court The Supreme Court of India heard one petition against the crypto banking ban imposed by the Reserve Bank of India (RBI) on Tuesday,

2018-7-3 19:04


ABM AMRO Bank Keynote Speaker Says Blockchain Will Overthrow Banking System of Today

According to an executive at the Dutch financial institution ABM AMRO Bank, the banking system that we currently know may be overthrown by blockchain technology. The company is already working with financial institutions that use Hyperledger technology with the intention to offer new financial services and products, including the tokenization of securities. An executive of […]

2018-6-30 23:49


Cryptocurrency still cruising as US Federal Reserve Bank Recognizes it

One of the 12 regional Reserve Banks in the US central banking system, The Federal Reserve Bank of St. Louis, have added four cryptocurrencies to its database. Bitcoin, its off-spring from a fork, Bitcoin Cash, Litecoin, and Ethereum are the four cryptocurrencies which were chosen and daily data on their prices will be listed on […] The post Cryptocurrency still cruising as US Federal Reserve Bank Recognizes it appeared first on ZyCrypto.

2018-6-28 17:44


Complacent Investors Are Blind To How Fragile The Markets Truly Are

Today – bank stocks recorded their longest losing streak – ever. The S&P 500 Financial Index is down for the 12th straight day. The irony of this is that for the last year we’ve seen stocks rally on the expectations that the banking sector would do well from Trump’s tax cuts, looser regulations, and most importantly – rising rates. But that’s […]

2018-6-28 04:21


Malaysian Crypto Company Belfrics Group Resumes Their Digital Currency Exchange in India

Belfrics Group, a Malaysia-based crypto exchange, will resume its operations in India after a six-month hiatus. The company shut down its digital currency exchange earlier this year before the Reserve Bank of India officially announced a ban on banking companies, payment companies, and NBFCs supporting with crypto entities.

2018-6-27 16:35


Ôîòî:

The Central Banks Of Australia And New Zealand Against Cryptocurrencies

The trend of ‘central banks’ talking about cryptocurrencies is warming up once more, with The Reserve Bank of Australia (RBA) and The Reserve Bank of New Zealand (RBNZ) weighing in on the debate. The pair have moved to debunk rumours that they are investigating in establishing their own central bank digital currency, on the basis that they believe such a project would inevitably damage their current banking system.

2018-6-26 17:00