WORLD’S FIRST CRYPTO BANK ARISEBANK ANNOUNCES BITSHARES PARTNERSHIP, ACQUISITION OF FDIC-INSURED BANK
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.
The FDIC is an independent agency created by the US Congress to maintain stability and public confidence in the nation’s financial system. By acquiring the bank AriseBank would have full financial capabilities of traditional banking united with the power and platform of real-time crypto-banking including a global network of ATM’s, debit cards, and an AI trading platform according to a report in the Huffington Post.
BITSHARES ON BOARD
The procurement comes parallel with the announcement of a strategic partnership with the world’s busiest financial blockchain, Bitshares. The decentralized exchange Bitshares will provide a comprehensive platform for real-time delivery of incorruptible financial products and services for AriseBank’s clients. BitShares offers a stack of financial services including exchange and banking on a blockchain. It has a current market cap of $977 million and handles over a million blockchain transactions per day.
According to the report, Bitshares has also teamed with the United Precious Metals Association (UPMA) to provide concurrent metal-backed cryptocurrencies into the mainstream. BTS has seen steady increases this month from $0.09 to a current high of $0.39, this week alone has seen a 140% increase in the altcoin’s value.
Would you use a crypto-bank or keep your stash in wallets? Add your thoughts in the comments below.
source
http://bitcoinist.com/arisebank-announces-bitshares-partnership-acquisition-fdic-insured-bank/