Category: Crypto Mining

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Swiss Bank Seba Now Enables Clients To Earn Income With Crypto Holdings

A Swiss bank approved by FINMA, Seba, has launched a program that allows clients to profit from their crypto holdings. In addition, the bank “will provide support for centralized lending and lending services, enabling investors to generate income by borrowing bitcoin and ethereum directly from Seba Bank.”

Seba Earn Allows Customers To Generate Rewards With Crypto Investments

Seba Bank, a digital asset banking platform licensed by the Federal Financial Market Supervisory Authority (FINMA), announced on Wednesday the launch of Seba Earn. The Switzerland-based bank described the new offering as “an institutional grade solution that allows customers to earn income from their crypto holdings.”

Noting that “the launch of Seba Earn responds to the growing demand from institutions to handle a variety of digital asset performance use cases, from holding companies to decentralized finance (challenge) and centralized lending and lending,” explained the bank :

Seba Earn's comprehensive engagement management platform will enable institutions and individuals to generate rewards from their crypto investments on networks such as Tezos, Polkadot and Cardano, with more protocols in the coming months .

Additionally, the ad explains:

Seba Earn will also provide support for centralized lending and lending services, enabling investors to generate income by borrowing bitcoin and ethereum directly from Seba Bank.

The bank also noted that it “will continue to integrate support for additional currencies.”

Guido Buehler, CEO of Seba Bank, commented: “It is clear that as institutional interest in digital assets accelerates, investors have a broader appetite for crypto assets, with a particular interest in crypto assets. ‘obtaining services such as staking, challenge, and centralized crypto lending and lending. “

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Coinbase Launches NFT Marketplace with Social Features to “Exponentially” Grow the Creator Community

The Coinbase cryptocurrency exchange is launching a peer-to-peer marketplace for non-fungible tokens (NFTs). The Nasdaq-listed company claims that “Coinbase NFT” will make “entering, buying, viewing and discovering NFT easier than ever”. Additionally, Coinbase said, “We will grow the creator community exponentially, a win for artists and fans alike.”

Coinbase NFT helps grow the creator community “exponentially”

Coinbase, a Nasdaq-listed cryptocurrency exchange, announced Tuesday that it was launching a non-fungible token (NFT) market. Sanchan Saxena, Vice President of Products at Coinbase, wrote:

Today we announced Coinbase NFT, a peer-to-peer marketplace that will make typing, buying, viewing, and discovering NFT easier than ever.

“Just as Coinbase helped millions of people access Bitcoin in a simple and reliable way for the first time, we want to do the same with NFTs,” he added.

Coinbase further stated, “All NFTs are in the chain. The first version will support the Ethereum-based standards ERC-721 and ERC-1155, with multi-chain support expected shortly afterwards. We offer the best user experience, but we will never block creators. Interested users can now register for Early Access.

The Coinbase Vice President noted that “Industries like fashion, games and music are realizing the power of NFTs to unleash new forms of creativity and ownership,” noted the Coinbase Vice President, “when you have tried to create or attempt to create an NFT buy, you’ve probably found the user experience to be bad. “

Aiming to simplify the process, Coinbase says, “We’re making NFTs more accessible by creating user-friendly interfaces that bring complexity behind the scenes. We’re adding social features that open new avenues for conversation and discovery.” The Vice President emphasized:

We will grow the creative community exponentially, a victory for artists and fans.
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U.S. Bank Launches Crypto Custody Services Amid Strong Demand From Institutional Clients

The US bank has launched its cryptocurrency custody services. “Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years,” the bank said.

US Bank Now Live Custody Encryption Services

The US bank announced Tuesday that its cryptocurrency escrow services are now live and available to its Global Fund Services clients.

U.S. Bancorp, with nearly 70,000 employees and $ 559 billion in assets as of June 30, is the U.S. holding company. Bank, the fifth largest bank in the country. The Minneapolis-based company serves millions of customers locally, nationally and globally. As of June 30, the US bank Wealth Management and Investment Services had more than $ 8.6 trillion in assets under custody and management and $ 282 billion in assets under global management.

Ad details:

The services are aimed at privately funded institutional investment managers in the United States or the Cayman Islands who want an escrow solution for bitcoin, with additional support for future currencies.

“NYDIG, a leading Bitcoin financial services and technology company, is the first crypto sub-custodian announced on the bank’s provider network,” he adds. The New York Digital Investment Group (NYDIG) is the bitcoin investment arm of Stone Ridge Asset Management.

Gunjan Kedia, Vice President of Investment Services and Wealth Management, U.S. Bank said:

Investor interest in cryptocurrencies and the demand for fund services from our clients has increased significantly in recent years. Our institutional custodian and our fund clients have improved their cryptocurrency offering plans and, in response, we have made it a priority to accelerate our ability to offer escrow services.

The US bank first established its blockchain and cryptocurrency practice in 2015, when the price of bitcoin was below 200. The price of BTC currently hovers around $ 50,000.

The bank announced the launch of three cryptocurrency offerings in April to meet “growing customer needs.” The first was the guard duty, which is now active. The second was an investment in Securrency, a developer of institutional-level financial and regulatory technology based on blockchain. The third was that the US bank had been selected to manage NYDIG’s bitcoin ETF this year, pending regulatory approvals.

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El Salvador begins mining Bitcoin using geothermal energy from volcanoes

El Salvador started mining Bitcoin (BTC) using geothermal energy extracted from volcanoes.

Salvadoran President Nayib Bukele, who led the country’s movement to adopt the BTC as legal tender, unveiled a teaser video to his 2.9 million followers showing clips from the new mining facility.

Bukele also shared a screenshot of a portfolio the country uses to collect the BTC generated by its mining operations. At the time of Bukele’s post, 0.00599179 BTC, valued at $286, had been extracted with energy from volcanoes.

“We are still testing and installing, but this is officially the volcano’s first Bitcoin mining operation.”

Bukele said in June that he asked El Salvador’s geothermal energy company LaGeoSV to create a Bitcoin mining facility using “very cheap, 100% clean, 100% renewable, zero energy. Emissions” from the country’s volcanoes.

The Central American nation, known as the “Land of Volcanoes”, became the first country in the world to adopt Bitcoin as its legal currency, despite protests and polls showing that a large part of the population does not disagree. .

About 25% of El Salvador’s current energy comes from geothermal energy, according to a report by Unidad De Transacciones, manager of the country’s electricity market.

Bitcoin changed hands at $48,061 at the time of writing, a 14% increase from the $41,002 seven-day low, according to CoinGecko.

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Uzbekistan warns citizens to avoid unlicensed cryptocurrency exchanges

A government agency in Uzbekistan has published a list of unauthorized cryptography changes that Uzbekistan residents have been urged to avoid. Trading platforms collect personal data and are not responsible for cryptocurrency transactions, authorities warned.

Uzbekistan authorities on the blacklist of “unofficial” cryptocurrency exchanges

The National Project Management Agency of the President of Uzbekistan has identified a number of online platforms that offer unauthorized encryption services. During an internet surveillance campaign, the organization reported an increase in the activity of these “unofficial” exchanges of digital assets.

The entities behind them offer Uzbek citizens the possibility to buy, sell or exchange cryptographic assets without having an office in the country. They are generally registered in other jurisdictions and their servers are located abroad, but at the same time they collect personal information from residents of the Central Asian Republic, the agency said in a notice posted on its website.

Half a dozen cryptocurrency exchange sites aimed at residents of Uzbekistan have been blacklisted: webmoneytashkent.com, wmztashkent.com, wm-torg.com, uzwmz.com, blockchainuz.com, and bitcointashkent .com. Similar services are also offered through Telegram bots and groups. Their providers, the regulator noted, often remain completely anonymous and can remove a channel quickly.

Authorities stressed that this type of platform does not assume legal responsibility for cryptographic transactions between various parties and cannot guarantee their legitimacy. Furthermore, they cannot guarantee the proper storage of personal data or the preservation of confidentiality. The ad says:

The Agency urges citizens to be as vigilant as possible, to be cautious and not to use the services of these platforms, in particular in order not to be victims of fraud.

Uzbekistan legalized trading in cryptocurrencies in 2018, but in December 2019, Tashkent authorities banned residents from buying cryptocurrencies while selling them. The National Project Management Agency has now reminded the public that, in accordance with the Presidential Decree “On Measures for the Development of the Digital Economy in the Republic of Uzbekistan” and the country’s law “on licensing and notification procedures”, the establishment of Cryptocurrency exchanges are subject to licensing.

The government tried to encourage some encryption activity. In January 2020, Tashkent unveiled a plan to establish a national mining pool and the initiative was presented as a priority. The state also said it will establish a licensed cryptocurrency exchange where miners can sell their coins and has promised to create a blockchain voucher, as well as introduce tax breaks for cryptocurrencies. Uznex, a regulated trading platform operated by the South Korean entity Kobea Group, was launched at the end of the month.

However, in September of this year, a senior central bank official reportedly said that cryptocurrencies such as bitcoin would never be recognized as legal tender. Speaking to local media, the vice president of the Central Bank of the Republic of Uzbekistan (CBU), Behzod Hamraev, recalled that, unlike cryptocurrencies, the national fiat currency, the sum, is backed by bank assets. He also expressed his opinion that bitcoin will never equal “world currencies” like the dollar, euro, yen and ruble.