Argentinian Bank to Use BTC For Cross Border Payments

Banco Masventas joined forces with Bitex exchange to use Bitcoin as an alternative for SWIFT
22 May 2018   629

Banco Masventas from Argentina announced that starting it will allow its customers to send cross-border transfers using bitcoin, CoinDesk reports.

The regional bank entered into an agreement with the Latin American exchange Bitex, founded in 2014, and will use bitcoin as an alternative to Swift.

The representative of the exchange said that this cooperation was the first example of the use of bitcoin by a local bank for cross-border payments.

The main shareholder of Banco Masventas, José Dacak, said that the latest solution will contribute to the development of digital banking services, including those targeted at mobile devices, and will reduce the cost of servicing cross-border payments.

One of the actions was to contract Bitex as a strategic partner in the implementation of the Bitex platform for payments and collections operations for our clients abroad.

José Dacak

Principal shareholder, Banco Masventas

The bank has not yet committed transactions using Bitcoin, as the service starts to operate only today, Bitex representative explained. 

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   158

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.