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   1231

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.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   125

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 
 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.