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The partnership agreement between Santander and IBM for $ 700 million, Paraguay and Argentina pay with bitcoin. The SEC has received an application for Bitcoin-ETF from Bitwise and NYSE Arca.
The $ 700 million will cost the Spanish bank Santander a five-year collaboration with IBM. The American giant will provide the credit institution with a blockchain platform with innovative technologies for business. It is expected, that this will allow Santander to get significant savings and remain one of the leaders of the financial industry in Southern Europe.
Santander is already cooperating with Ripple Labs, which makes it possible to use the Ripple One Pay FX application to speed up the billing system. It is noteworthy that on the same days, the Spanish Central Bank declared cryptocurrency ineffective as payment systems and warned about the risks of using bitcoin and other coins.
For the first time in the history of international trade, the country paid for the supply of cryptocurrency goods. A shipment of chemicals for agriculture from Argentina was paid by the buyer from Paraguay with a bitcoin. Although the amount of the transaction does not exceed $ 15,000, the precedent itself is important.
In Latin America, cryptocurrencies have proved more popular than in many other regions. For example, in Argentina it is already possible to replenish traditional transport cards with cryptocurrency. In Paraguay, it is planned to launch a whole network of mining centers. However, cryptocurrency is the most popular among residents of Venezuela. Due to the economic crisis and inflation there, a significant part of the calculations was transferred to the blockchain technology.
Back at the end of January 2018, Bitwise Asset Management together with the NYSE Arca Stock Exchange submitted an application to the US Securities and Exchange Commission for a permit for bitcoin-ETF trading. However, due to the suspension of the government, SEC only now accepted it for consideration.
Now the regulator has 45 days to make a primary decision - to agree, refuse, and request additional time for study. The final verdict must be rendered no later than 240 days. The new contracts from Bitwise have their own characteristics. The company plans to use the services of a third-party service for the storage of cryptocurrencies, and is going to receive quotes from the composite index of many cryptoexchanges.
Difficulty bitcoin-ETF situation