The Crypto Industry Institutionalization
Here are some key bits happening in the crypto world that we have compiled for you. The top leading institution facilitating wide variety expansion for the maturing crypto market and industrialization:
The era of digital spending has evolved into larger monetary system and banking processes. Revolut is one of the largest financial services that offers numerous digital expansion taking away the old banking system to create mass adoption for a new and bigger banking industrialization and now have raised a $500 million at a $5.5 billion valuation. It offers not only to spend, receive and send money through the app, but also allows you to “insure your phone, get a travel medical insurance packages, buy cryptocurrencies, buy shares, donate to charities, save money and many more. View full story
Many have ventured the security and reliability of the cryptocurrency blockchain encryption. The goal is to positioned regulatory devices among the companies and institutions that built monetary system replacing centralized institutions, giant intermediaries sitting under the umbrella of old banking regulations for the longest time. Caillin Long, managed to form the very first US dedicated bank for digital assets “Avanti” in partnership with Blockstream. Provided with software and hardware to custody digital assets for the bitcoin protocol. View full story
BitGo acquired Harbor to expand in-house capabilities towards the main stream financial services. Harbor was the first blockchain startup approved by US Security and Exchanged Commission (SEC) and is registered broker-dealer by Financial Industry Regulatory Authority (FINRA). CEO Mike Belshe said on the news: “Our vision has always been bigger than wallets and custody and acquiring Harbor furthers BitGo’s vision of building a new digital infrastructure for financial services. We believe participants will ultimately need trusted, full-stack solutions for digital currencies and now BitGo is well positioned to address institutional requirements as the market develops.” View full story
JP Morgan made a 74-pages report on blockchain towards the maturing industry of crypto market seeing the long term potential of Distributed Ledger Technology (DLT), transforming banks business models through efficient and resilient information transfer. Although reports also stated that this might still be few years away as legal and regulatory frameworks decelerate its progress particularly on “cross-platform integration.” View Full story