Bitcoin

Bitcoin Daily: BankLine Aids Crypto Banking, Belgium Issues Crypto Scam Warnings

Bitcoin Daily: BankLine Aids Crypto Banking

Miami-based BankLine has partnered with a variety of crypto-friendly financial institutions on banking and cash logistics services for the cryptocurrency industry.

As the only company in the industry providing “multiple banks under one roof,” BankLine currently supports cash vaults in more than 50 markets across the country, with access to more than 150 of them, according to a press release. Its crypto BTM operators are able to process cash deposits via an armored cash logistics service, with funds posted within 24 to 72 hours depending on the market. In addition, BankLine is providing banking relationships for online crypto companies looking to receive wire transfer payments.

In other news, Wong Supermarket is participating in a blockchain pilot program that will allow suppliers and consumers to scan and check the original location of various meat products.

The app, which has been developed by Cencosud and Citizens Reserve subsidiary SUKU, will utilize JPMorgan’s permissioned blockchain platform, Quorum. The platform will be available in 20 different Wong stores and will cover all meat products with the SUKU logo, allowing users to see their supply blockchain history.

“You have a large group of consumers that want to buy sustainability, and want to buy transparent products from brands. But they don’t do it today – they don’t trust what the brands are saying. There’s a $1 trillion market sitting there for companies and brands to take if they can speak the same language as those consumers do,” SUKU CEO Yonathan Lapchik told CoinDesk.

And Belgium’s Financial Services and Markets Authority has sent out a new warning over suspected crypto scam websites, adding nine domains to bring its current total to 131.

The new domains include bitcoinmarketscap.com, bitcointraderspro.com, coinsmex.com, crypto-sfs.com, etc-markets.co, fisherih.com, ltc-markets.com, stsroyal.com and tdscapitalgroup.com, all of which are joining the list of crypto trading platforms with “signs of fraud.”

——————————–

Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. In the November 2019 Mobile Order-Ahead Report, PYMNTS talks with Dan Wheeler, Wahlburgers’ SVP, on how the QSR balances security and seamlessness to secure its recently launched WahlClub loyalty program.

TRENDING RIGHT NOW