#CryptoCorner: NY Bank to Offer Services to Fintech Firms in Bermuda, Circle Selects NICE Actimize for Surveillance Against Market Manipulation, Facebook Looking to Create Crypto for WhatsApp and Coinbase Adds XRP to Mobile Apps
Friday, March 1st #CryptoCorner sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - March 1, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: NY Bank to Offer Services to Fintech Firms in Bermuda, Circle Selects NICE Actimize for Surveillance Against Market Manipulation, Facebook Looking to Create Crypto for #WhatsApp and #Coinbase Adds #XRP to Mobile Apps
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NY Bank to Offer Services to Fintech Firms in Bermuda, Circle Selects NICE Actimize for Surveillance Against Market Manipulation, Facebook Looking to Create Crypto for WhatsApp and Coinbase Adds XRP to Mobile Apps
Stocks discussed: (NasdaqGS:NICE) (NasdaqGS:FB)
New York-based Signature Bank will begin offering services to fintech firms in Bermuda, according to a report from the Royal Gazette. Signature Bank launched a blockchain-based platform for trading money between clients called Signet in December 2018. Joseph DePaolo, Signature's CEO, said:
"Since launching at the start of the year, our blockchain-based Signet system has on-boarded multiple clients who are using it to send each other millions of dollars, 24 hours a day, seven days a week.
"Currently, we are seeing trades in the millions some days and tens of millions other days, with the number of Signet clients in the triple digits.
"Signature Bank is one of the few banks in the US that will provide deposit accounts and corporate debit cards to cryptocurrency start-ups, but we are seeing non-crypto businesses signing up as well."
Crypto finance company Circle has contracted NICE Actimize, a subsidiary of NICE Ltd. (NasdaqGS:NICE), to introduce market surveillance to protect against market manipulation including insider trading and pump and dump schemes. Robert Bench, Head Regulatory Counsel and Chief Compliance Officer, Circle said:
"As a leading crypto finance company, it was important that we work with a leading financial crime solutions provider like NICE Actimize which provides industry-leading solutions for the rapidly changing financial crime, risk and compliance landscape. Circle has adopted a strong position on policy and crypto-related regulatory issues that focuses on the safety of our customers and investors. Adapting innovative technology solutions, such as the financial markets compliance solutions from NICE Actimize, to meeting the potential needs of regulators and protecting our assets brings this commitment full circle."
The New York Times reports that Facebook (NasdaqGS:FB), through its messaging app WhatsApp, is working on a cryptocurrency over the next year that would allow users to send money via messages to their contacts. Citing four anonymous sources, the article claims that Facebook's project is "far enough along that the social networking giant has held conversations with cryptocurrency exchanges about selling the Facebook coin to consumers". Eric Meltzer, a co-founder of a cryptocurrency-focused venture capital firm, Primitive Ventures said:
"It's pretty much the most fascinating thing happening in crypto right now. They each have their own advantage in this battle, and it will be insane to watch it go down."
A blog post from Coinbase yesterday confirms that the crypto exchange giant has officially added support for XRP on mobile apps and Coinbase.com. After greenlighting XRP for support on their Coinbase Pro platform earlier this week, the exchange now allows customers to buy, sell and trade the crypto on their main retail platform.
Sam Mowers, Investorideas
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Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
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