Another bank is reportedly moving into crypto amid a major bull run in crypto markets.
Belarusbank, the largest financial institution in Belarus, is reportedly launching a cryptocurrency exchange service.
According to a Nov. 12 report by local news agency Prime Press, Belarusbank is rolling out a service allowing users to exchange cryptocurrency using a Visa payment card. As reported, the new service enables trading crypto against fiat currencies like the Belarusian ruble as well as the United States dollar and the euro.
Belarusbank executives reportedly said that the launch of the new crypto service comes in line with the company’s digital transformation program that was announced a few years ago.
The new service is reportedly available to citizens of Belarus and Russia. The bank is also planning to extend the list of countries supporting the service as well as the list of supported cryptocurrencies in the near future, the report notes.
According to the report, the new feature is a result of Belarusbank’s partnership with local crypto payment operator Whitebird. Prior to introducing the new service, the two companies reportedly partnered to jointly explore the crypto industry in 2018.
Belarusbank is apparently one of the first banks in Belarus pushing its own crypto service. The bank initially announced its plans to set up a crypto exchange in early 2019.
The development of crypto business in Belarus has been encouraged by local crypto-friendly regulation. As previously reported, Belarus President Alexander Lukashenko signed a draft decree legalizing the use of digital currencies in late 2017.
[…]
Learn more
The Tulip Prize [1] was awarded yesterday to François Villeroy de Galhau for a speech…
Senator Elizabeth Warren, supported by other senators, today introduced a bill titled the “Digital Asset…
President Volodymyr Zelensky today signed the “virtual assets” law adopted by the Ukrainian parliament on…
Joe Biden today signed an executive order asking the federal government to assess the risks…
After the implementation of the Ethereum blockchain in the consensus Proof-of-Stake model called “Beacon Chain”,…
It hung in the face of investors, this correction. And if the movements of Bitcoin…
Leave a Comment