These traditional financial institutions enter Bitcoin payment/transaction

In the past decade, Bitcoin has grown into a store of value and has undergone upgrades to improve its transaction processing capabilities. Nowadays, some traditional financial companies have gradually begun to accept or support Bitcoin payments/transactions.

On October 8, Public.com, an investment platform operated by Public Holdings, will launch a cryptocurrency trading service, join the cryptocurrency battlefield, and compete with Robinhood Markets and others. Previously, individual investors using the platform could only trade stocks and exchange-traded funds listed in the United States. It is reported, Public Holdings will allow its users to encrypt the sale of 10 kinds of currency in the coming weeks, including Bitcoin, Bitcoin cash , Ethernet Square, Square classic Ethernet, litecoin, Dash, Stellar, Cardano , Zcash and dogs currency . New York users of Public will not be able to conduct cryptocurrency transactions immediately because Public has not yet obtained a BitLicense in New York State, but the platform is working hard to obtain it. The back-end operations of Public’s new encryption products will be managed by Apex Crypto. In addition, the company said it is working hard to provide its own crypto wallet in the future.

On October 8, according to CoinDesk, Colombian fintech company Movii received US$15 million in Series B financing, led by Square and Hard Yaka (the investment fund created by Ripple’s chief risk officer Greg Kidd). This round of financing will be used to promote existing The growth of the service will provide users with the service of buying Bitcoin. Movii has participated in a pilot program funded by the Colombian government with two exchanges Panda and Bitpoint since July, which allows financial institutions to provide deposit and withdrawal services for cryptocurrency exchanges. In addition, Movii claims that as a payment institution, it is fully regulated by Colombian regulators.

On October 8th, Twitter’s “tip” function has been opened to all IOS users. Users can find the “tip” option on their profile page (the default state is “off”) to activate it. On the tip page, users can select “more payment options”, including entering a bitcoin address and Patreon’s username.

Recently, Car For Coin, an online car market selling high-end cars, announced that it supports the use of cryptocurrencies (including Bitcoin) or U.S. dollars to buy Tesla and high-end cars. Car For Coin founder Tom Hegedosh explained that during the auction, bidders and sellers do not have to worry about the fluctuations in the value of cryptocurrencies. All bids and auction prices are listed in U.S. dollars. Buyers can choose to use cryptocurrency or traditional currency to pay for the vehicle after winning the auction. If the seller does not accept cryptocurrency, Car For Coin will help the conversion.

U.S. Bank, the fifth largest retail bank in the United States, recently announced that fund managers can use its cryptocurrency custody service. Gunjan Kedia, vice chairman of the bank’s wealth management and investment services department, said that the service will help investment managers store the private keys of Bitcoin, Bitcoin Cash and Litecoin with the help of the sub-custodian NYDIG. Kedia said that over time, support for other currencies such as Ethereum is expected to come true.

Kripton Market, an online encryption-friendly market based on RSK, has expanded its business in El Salvador. Kripton Market has been integrated by 150 stores in El Salvador. Through recent partnerships with Procom and Innovaciony Desarrollo, its Bitcoin-friendly tools will be added to the mainstream software suite. Soon 564 stores and companies will start using Bitcoin to accept payments, send money, collect payments via QR codes, and ship items.

Behind the entry of cryptocurrency services by traditional financial institutions, not only is the demand from customers increasing day by day, it also means that Bitcoin is being accepted and recognized by the mainstream society.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/these-traditional-financial-institutions-enter-bitcoin-payment-transaction/
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