Cryptocurrency's future is bright for sure and this fact is evident by looking at the exponential growth gained by cryptocurrencies over last year. Approximately 20x returns have been recorded by Bitcoin only during this year. More and more investors are investing in cryptocurrencies on daily basis and after the widespread popularity of Bitcoin futures, the Institutional Investors have also jumped in Crypto investment train.
Now, Let's get to the point:
The world’s first decentralized cryptocurrency bank, AriseBank, announced that they have reached an agreement with a Federal Deposit Insurance Corporation (FDIC) insured bank that has been in operation in the US for over a century. The acquisition, in addition to a partnership with Bitshares, will occur before the end of the year.
as per this Source.
Arise bank is the World's First cryptocurrencies bank, incorporating the wallet of all possible cryptocurrencies and providing crypto loans as per demand.
If we talk about FDIC, it is an independent agency incorporated by US government to maintain Financial stability and public trust in Financial system of US Nation.
Now, after making partnership with FDIC, ARISE Bank now holds all the capabilities of traditional banking as well as real time crypto banking including Crypto ATM cards as well as trading platforms.
Arise came up a partnership with Bitshares (BTS) project, world's busiest financial blockchain. Bitshares will provide a platform for timely delivery and convenient financial products to Arise bank's clients.
In near future, Arise bank aims to raise record investments in its own ICO.
Mr. Jared Rice Sr, the CEO of Arise Bank, said this in his statement recently:
We are very excited to be at the forefront of history today. We feel like this was going to happen eventually and wanted to get the process started for the industry as a whole … The bank we are acquiring has hundreds of banking partnerships across the world and many certifications and licenses that make sense when it comes to interacting with our decentralized cryptocurrency platform.
After its ICO, I believe this could be huge as a real time crypto bank will provide a great value in crypto verse for sure.
Stay tuned to read more about Arise Bank updates.
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