BCB Group, a UK-based payments processor for crypto companies, is looking to fill Silvergate's shoes by adding US dollar capabilities.
March 06, 2023 | | | | Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $22,522 | Bitcoin price has gained a little ground to begin the week, trading in the mid $22,000s Monday. | Top-20 altcoins are trading steady over the last 24 hours, as Ether remains unchanged, BNB falls just 1% and Uniswap gains 2%. | Top Stories for March 6, 2022 🔥 | | BCB Group, a UK-based payments processor for crypto companies, is speeding up plans to add US dollar capabilities in order to fill the gap left by the recently-closed Silvergate Exchange Network. | BCB currently provides fiat-to-crypto rails for currencies such as sterling, euros, Swiss francs, and yen in Europe, primarily to institutional players such as Bitstamp, Gemini, and Kraken. | The firm launched its instant settlement network, BLINC, in mid-2020, with a dollar component in the works for about a year and set to launch soon. | | Digital asset management firm Coinshares has reported its fourth consecutive week of outflows from its investment products, this week with $17 million withdrawn. | On the other hand, short positions on Bitcoin have seen inflows for three straight weeks, reaching $1.8 million in inflows. The negative sentiment has been attributed to ongoing concerns about regulatory uncertainty in the industry. | | The Bank for International Settlements (BIS) has completed "Project Icebreaker," a study exploring international retail and remittance payment use cases for central bank digital currencies (CBDCs) with the central banks of Israel, Norway and Sweden. | The BIS found that a "hub-and-spoke" model between domestic CBDC systems could reduce settlement and counterparty risk and complete cross-border transactions within seconds. | The report could lay the groundwork for a cross-border payment system if the central banks of the participating countries move forward with issuing digital currencies of their own. | | Milk Road covers 5 major headwinds in crypto, are NFTs making a comeback and Binance allegedly offered Gary Gensler an advisory role. |
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