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European banks and cryptocurrencies

10/29/2018
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Immediately from the two countries of Europe came the news about the promotion of digital assets in the financial sector. The Czech Expobank CZ has offered its customers to keep funds in cryptocurrencies, and the Central Bank of Sweden is preparing to launch the national E-krona coin.

The evolution of blockchain

Cryptocurrencies have received recognition at the state level, which requires the adoption of certain measures. Last year, the Central Bank of Sweden began work on creating a national digital coin. Already in the country, 98% of the cash flow takes place in a non-cash form. That is, the society is ready to adopt a new form of payment - through the blockchain. The central bank is currently working on the technical details of the new project.

But the greatest difficulty is the issue of legal regulation. It is expected that the new coin will be in circulation simultaneously with the usual crown, which leads to the need to expand the regulatory framework. Against this background, the message from the Czech Republic sounded interesting. Here a commercial bank offered its customers to keep cryptocurrency funds.

Despite the wide distribution of coins, credit institutions in Europe have not yet allowed their clients to keep funds in cryptocurrencies.

Financial breakthrough from the Czech Republic

Developed for Expobank CZ on-line application Expobanking allows you not only to convert euros into bitcoins and store them. The institution went much further, and created a platform to provide a range of services:

  • trading in financial instruments;
  • purchase of precious metals;
  • property, life and health insurance.

That is, it turned out to be a full-fledged complex, which greatly facilitates financial calculations. Moreover, they can be produced in cryptocurrencies or in fiat money. Such a variety of choices allows us to talk about positive prospects for a new service.

The financial authorities took the idea of the equality of cryptocurrency and fiat money fairly hard. Judging by recent events, the trend has begun to change. More recently, bankers have declared that the admission of new technologies to the market is unacceptable, and now the “dam of distrust” has been broken.

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