One of the largest European crypto exchanges Bitstamp announced its partnership with the major Swiss online bank Dukascopy that reached our crypto news today.
Bitstamp will provide support for BTC transactions on behalf of the Dukascopy bank so that clients have the ability to send BTC to their accounts and convert them to US dollar. The clients will also be able to trade on the Swiss FX marketplace and can transfer their funds back to their wallet in BTC form. Bitstamp hopes that this partnership will help to close the gap between the crypto and traditional finance.
Back in 2018, Bitstamp was acquired by the investment firm NXMH which is actually owned by South Korean media conglomerate NXC Corp. Bitstamp made clear that is heading towards ‘’global expansion.’’
Another Swiss bank-Falcon Private Bank also introduced their support for direct transfers and storage of multiple cryptocurrencies. The bank now supports four of the most popular cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
Earlier in January, the major investment bank from Switzerland Vontobel launched a crypto custody solution that targets asset managers and banks by allowing them to offer their clients a few of their crypto-related services such as digital asset purchase, storage, and transfer.
In December 2018, the popular crypto-hub city of Zug, Switzerland, was ranked as one of the fastest growing blockchain community in Europe according to the ‘’State of European Tech’’ report conducted by the London-based investment company Atomico.
Many studies show that the number of blockchain-related companies in Switzerland and Lichtenstein is continuously growing despite the prolonged crypto winter.
Guangdong Province In China To Use Blockchain-Based Tax Payment Platform
“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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