British Travel Company Partnered with Revolut

Thomas Cook travel company will launch Revolut's Pay-per-Day emergency medical insurance service
17 January 2018   851

Thomas Cook, a British global travel company, has partnered with fintech firm Revolut to launch a “pay-per-day” travel insurance service which automatically provides users with medical cover by tracking their location through their mobile phones. This is reported by The New York Times.

Revolut, the digital bank start-up, said it could pinpoint customers' location through its app technology and automatically turn on the coverage when required, starting at less than $1.38 a day.

We wanted to create a type of insurance that uses technology to help our customers and only cover you on the days you actually needed to be covered.

 

Nikolay Storonsky

CEO, Revolut

Revolut, founded in July 2015, allows customers to exchange currencies at rates used by banks and pay by card in different countries without international fees. In December 2017, it launched cryptocurrency trading.

Thomas Cook Money, the new financial arm of Thomas Cook, wil also partner Revolut to underwrite the insurance policies.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   67

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.
 

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.