Coinbase is no longer trading with Barclays Bank, and the creator of litecoin is investing in Bitcoin, let’s start the show. Welcome back to crypto global news, please make sure you like to share and subscribe to the show. Also, we have a brand new website – jump over to cryptognt.com and have a look, we have all the latest news from the world of blockchain and cryptocurrency.
You can find a link to our site in the show notes below. Enjoy today’s episode. It has been reported that Barclays, the London-based global bank, recently stopped banking for Coinbase. Coinbase reportedly found a quick replacement in the form of another United Kingdom-based establishment, ClearBank.
While Barclays connected San Francisco-based Coinbase to the U.K. Faster Payments Scheme, enabling instant withdrawals and deposits of British pounds at the exchange, ClearBank won’t offer the exchange the same service until at least the end of Q3 2019. Deposits and withdrawals in pounds for Coinbases U.K. customers, which once took seconds, will for now take days to process.
Why did this happen and what is the future for coinage and Barclays? FaceApp the mobile applications has raised a lot of concerns about potential privacy violations for users that upload their photos to be edited.
Rumours have circulated that the application might even be taking users photos from their phones and uploading them to the FaceApp cloud server without explicit permission. Now there is a push to Use DPAPPS – decentralized applications to help curb these issues.
So will DAPPS be the thing that helps in the realm of privacy and control of information moving forward? Just a reminder, we have a brand new website – jump over to cryptognt.com and have a look, we have all the latest news from the world of blockchain and cryptocurrency. You can find a link to our site in the show notes below. And now, back to today’s episode.
The holding company of cryptocurrency-friendly Silvergate Bank, Silvergate Capital Corporation, announced that the firm plans to offer cryptocurrency-collateralized loans. We believe there may be attractive opportunities to provide digital currency borrowing facilities to deepen our high-quality customer relationships and further enhance our interest income.
In the document, the firm states that it found significant demand for cryptocurrency-related borrowing. The service would consist of the client providing crypto assets or U.S. dollars as collateral in exchange for significantly greater credit.
Loans and cryptocurrency, what comes next for this bank? A delegation of the United States House of Representatives is planning on a visit to Switzerland on cryptocurrency concerns, with Facebooks not-yet-released stable coin Libra being in the focus.
A six-member delegation from the House Financial Services Adrian Lobsiger to exchange views about digital currencies. The delegation is led by the chairwoman of the House Financial Services Committee, Maxine Waters, who previously requested that Facebook halt Libras development until the purported risks it poses could be properly understood.
Let’s see how this meeting goes. Litecoin founder Charlie Lee recently revealed that he is an investor in Casa, a Bitcoin personal key security firm. He also noted that he has high hopes for the company: I have the same feeling about Casa today as I had about Coinbase when I joined in 2013 as the 3rd hire. Casa is making Bitcoin easy to use and that is extremely important for this space.
Looking forward to great things! People are making a big deal about this, and thinking perhaps Mr Lee does not have complete faith in Litecoin, or that he feels that Bitcoin is superior, or it could just be that he wants to diversify his portfolio.
What will Mr Lee invest in next? Many thanks for tuning into today’s episode, please make sure you like to share and subscribe to the show, And please remember to go check out our new website at cryptognt.com where you can find all the latest news from the world of cryptocurrency.