Texas stops cryptocurrency bank

Texas Department of Banking Commissioner issues Cease and Desist order relating to AriseBank
29 January 2018   1181

According to the press release of January, 26th Texas Banking Commissioner Charles G. Cooper issued a Cease & Desist Order relating to the acclaimed cryptocurrency bank Arisebank. The order was based on the Commissioner’s finding that AriseBank used the term “bank” in the name and marketing to imply that it operates in banking business of Texas. In addition to stop this implication, the bank is required to clearly state that it doesn’t offer services to the customers of Texas.

The bank was given a chance to request a hearing and was given 20 days after the Order was mailed. But the request was not submitted. And so the Order is now final and non-appealable.

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.