Tag: Crypto Banking

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Bitcoin News Blockchain News Cryptocurrency News

The First U.S. Commercial Bank To Provide Access To Bitcoin

Blue Ridge Bank Bitcoin

Blue Ridge Bank has announced that for the first time in U.S. history a commercial bank is providing access to Bitcoin at its branch locations. Cardholders can purchase and redeem Bitcoin at 19 Blue Ridge Bank ATM locations, consisting of both branch and off-site ATMs.

“Blue Ridge Bank is excited to continue its evolution to serve the growing needs of our current and future customers,” said Brian K. Plum, Chief Executive Officer of Blue Ridge Bankshares, Inc. (NYSE American: BRBS), the parent company of Blue Ridge Bank. “The ATMs remain able to serve cash-based and inquiry activity, so this is simply layering on more services and reinforces our commitment to the future of banking for all customers.”

Blue Ridge Bank has partnered with BluePoint ATM Solutions, a national ATM operator out of Woodstock, Va., and LibertyX, the leading U.S. bitcoin ATM software provider from Boston, Massachusetts.

BluePoint ATM Solutions CEO Wade Zirkle commented, “We are proud to partner with Blue Ridge Bank and LibertyX to provide ATM management services that are Bitcoin-capable. We predict that more community banks and credit unions will demand innovative fintech solutions like this at their branches, and we are excited to be a leader in this space.”

“We’re honored to work with Blue Ridge Bank and BluePoint. For years, consumers have been asking for the ability to buy bitcoin from their banks. We are proud that BRB is the first bank in the nation to offer bitcoin services on their ATMs,” said Chris Yim, LibertyX Co-Founder & CEO. “LibertyX provides consumers with the trust and ease of going to 8,500 ATMs at local convenience stores, pharmacies, and gas stations. Now they can also buy bitcoin at their local bank ATM.”

Blue Ridge Bank, N.A., is the wholly-owned banking subsidiary of Blue Ridge Bankshares, Inc. Through its subsidiaries and affiliates, Blue Ridge Bank provides a wide range of financial services including retail and commercial banking, payroll, insurance, card payments, wholesale and retail mortgage lending, and government-guaranteed lending. The bank provides commercial banking services to customers located throughout Virginia and North Carolina.

BluePoint ATM Solutions is one of the largest privately-held ATM management companies in the U.S., with offices in Virginia and Colorado. BluePoint ATM Solutions specializes in providing efficient, outsourced ATM services to Community Banks and Credit Unions across the U.S. and providing customized ATM services to the retail and hospitality industries.

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Bitcoin News Blockchain News Cryptocurrency News

America’s Oldest Bank Embraces Cryptocurrency

Bank of New York Goes Bitcoin

The Wall Street Journal is reporting this morning that America’s oldest bank, Bank of New York Mellon Corp., is formally entering the cryptocurrency market:

The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers’ other, more traditional holdings—from Treasurys to technology stocks—using a platform that is now in prototype. The bank is already discussing plans with clients to bring their digital currencies into the fold.

“Digital assets are becoming part of the mainstream,” said Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses.

Wall Street Journal, February 11, 2021

It’s difficult to imagine a stronger signal that Bitcoin and cryptocurrencies are heading towards mainstream adoption.

HODL.

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Blockchain News Cryptocurrency News

Prime Trust Announces Record Crypto Market Growth in 2020

Prime Trust

Prime Trust, the leading provider of all-in-one, financial infrastructure for fintech innovators today reported 2020 numbers, with strong growth across crypto, crowdfunding and BaaS markets. It further detailed the fintech roadmap priorities for the year ahead. Additionally, Prime Trust celebrated its year-end with continued team expansion – hiring more than 100 new members in 2020; despite the challenges of the pandemic.

2020 Highlights

Prime Trust executives attribute the company’s growth to the acceleration of alt-banking and the next-generation of alternative trading systems. Additional highlights from the year include:

  • Crypto – $12 billion in settlements and more than 3.4 million counterparty transactions
  • Crowdfunding – more than $650 million invested, with 460,000 transactions in 648 offerings
  • Financial Infrastructure – more than 140 API customers, $22 billion funds processed and 600,000 AML checks

“What a year! Despite a lot of uncertainty caused by COVID-19, I am in awe of our team and how they persevered as business accelerated beyond our wildest expectations,” said Scott Purcell, CEO of Prime Trust. “We moved quickly to develop technology and add exceptional team members with expertise across regulation, banking, business and tech to service our API customers.”

2021 Outlook

Prime Trust will continue full steam ahead for 2021, with a host of priorities and initiatives across the board from enhancing bank crypto services to securing impactful certifications. The company will continue to thrive in the new year as the all-in-one, financial infrastructure for quick, easy, and reliable deployment to help fintech innovators launch in a customizable way.

“It’s a really exciting time to be in fintech, and a fantastic time to provide financial infrastructure to a huge variety of innovators,” Purcell said. “Our customers are doing incredible things with our technology and 2021 is going to be an amazing year of innovation and disruption – I can’t wait.”

Prime Trust is the leading provider of all-in-one, financial infrastructure for fintech innovators. Their proprietary Universal Asset Platform, Prime Core, is a modular platform that allows fintech startups and established financial institutions to scale and enter new markets, quickly and simply. The firm powers mobile financial apps, crypto exchanges, securities exchanges, OTC desks, portals, platforms, brokers, investment advisors, exchanges, real-estate syndicators, and others with smart API solutions to create world-class financial services at scale. Services provided by Prime Trust include institutional and retail account types including custodial, IRA, trust, and escrow, coupled with funds processing, AML and KYC compliance, asset custody, counterparty settlement systems, transaction technology and tax reporting. 

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Cryptocurrency News

Antier Solutions Launches Crypto Margin Trading & Derivatives Exchange

Amidst the crowded marketplace for cryptocurrency products, Antier Solutions has taken a step ahead with ready-to-deploy crypto Margin & Derivatives trading platform. Fully customizable and secure, the exchange can be white-labeled, thereby enabling financial institutions to launch early.

With crypto margin & derivatives trading gaining momentum, Antier’s white label exchanges have arrived at the right time, especially for those aiming for a stimulating start in the crypto finance services. Furthermore, this is a chance to captivate an enormous pool of cryptocurrency holders and no finance entity would want to miss it.

Given vast experience in white label crypto exchange development, Antier has diversified its portfolio offerings to different types of platforms.  

Features of the Trading Exchange Platforms

Antier’s Margin trading exchange software provides Auto Deleveraging (ADL) and Partial Close Orders and allows the traders to set floor and ceiling values for an order. Built completely with a user-first approach, the platform will attract more crypto traders, thereby sustaining the value proposition for the finance service providers. While crypto derivatives exchange development was around for a while now, a white label solution to instantaneously enable trading functions is a rare development.

As far as speed and security are concerned, Antier Solutions’ CTO Parvinder Singh said– “Our white label exchange platform offers high transactional throughput backed by multi-layered & institutional-grade security and a powerful trade engine. We have ensured multi-signature withdrawal, multi-level authentication, and high-level encryption. Moreover, the traders can go long or short on a list of the best crypto tokens.”

As one of the earliest entrants into the Blockchain finance industry, Antier Solutions has an impressive customer spread all over the map.

Opportunities in Crypto Exchange with Margin & Derivative Trading

There’s a swaddle of opportunity in crypto finance and trading exchange platforms are at the helm of it. Next to assured returns, crypto Margin & Derivatives trading is an avant-garde solution that elevates the bottom lines for the traders as well as the exchanges. For financial institutions willing to embrace full-stack crypto services in their portfolio, margin & derivatives exchanges are an important addition.

About Antier Solutions

Going forward, Antier Solutions aims to build dApps that adhere to complete decentralization. With their range of crypto banking, trading platform, and other custom-made Blockchain products in the offering, the company foresees an exciting 2021.

“We are assertive about the scope of DeFi compliant derivatives trading and shall soon launch our white label solution. This will be a one of its kind platform that addresses the limitations of centralized trading platforms.” adds Parvinder.

With a rich experience spanning over 100 + full-scale implementations, Antier Solutions has grown into a reputed Blockchain consulting company with an impressive CoE across tokenization, exchange development, dApps development, and crypto market making consulting.