Merrill Lynch closed access to GBTC for its clients

The decision to close the GBTC for new transactions was dictated by concerns related to the fitness and viability of the standards of this product
04 January 2018   597

Merrill Lynch, a large US bank that was integrated into the Bank of America several years ago, banned its customers and consultants who carry out transactions on their behalf to buy bitcoin through the Grayscale Investment Trust. This is reported by the WSJ. Earlier, Merrill Lynch refused to provide customers with access to bitcoin futures.

Grayscale Bitcoin Investment Trust or GBTC is a trust fund operating exclusively with bitcoin, the yield of which is determined by the indicators of the crypto currency. It was created as a tool for traditional investors wishing to earn on the growth rate of bitcoin.

In Merrill Lynch, there is no consensus on the latest decision of the bank's management. Some consultants complain that they miss the opportunity to trade, which their clients are actively interested in.

Others argue that restricting access to bitcoin will help protect investors from excessive risks.

In October last year, analysts at Merrill Lynch said that the real cost of bitcoin can not be estimated.

iPayment to cooperate with Aliant Payment Systems

iPayment, Inc., a payment provider for small and medium-sized businesses (SMBs), today announced a partnership with Aliant Payment Systems
23 May 2018   73

This new partnership will allow iPayment to facilitate digital currency acceptance for merchants and their channel partners. 

Our goal at Aliant is to be one of the first adopters and facilitators of cryptocurrency in the traditional payments space. Partnering with an established, quality organization like iPayment helps us achieve that goal. We are looking forward to mutually moving into a new territory of block chain and cryptocurrency and providing our shared clients with an alternative form of accepting and processing secure, cost-effective payment transactions.
Eric Brown
Founder, CEO, Aliant Payment Systems, Inc.

Aliant Payment’s Crypto Processing Gateway provides merchants with the possibility  to accept cryptocurrencies like Bitcoin or Litecoin, in both digital and card-present environments.

The payments landscape is always changing. iPayment is continually pursuing partnerships with organizations that not only anticipate these changes, but develop innovative solutions to address them – and that is exactly what Aliant has done. We’re looking forward to cultivating this partnership and introducing crypto payment acceptance to our channel partners and adding it to our overall product offering.
Denise Tahali
Senior Vice President, Partner Sales, iPayment, Inc. 

From this new product innovation, iPayment is aimed on small business enablement and delivering efficient services and resolves for business developments. Aliant also lets e-commerce and mobile vendors worldwide to adopt different payment forms, and it provides a complete line of credit card machines, ATMs and payment technology. 

With the help of this collaboration, iPayment can now supply Aliant’s Crypto Processing Gateway to partners and merchants who wish to accept these forms of digital payments.