Brazil launched Pitaia Bank as the first digital bank based exclusively on blockchain technology. Bitcoin trading and fiduciary currencies such as the Brazilian Real will be managed in this bank. This could develop some more regulation in the market and a few other banks will enter the world of cryptocurrencies. Blockchain technology makes transactions faster, cheaper and safer than traditional models. Traders across the country can now trade digital assets using the bank's cryptographic services.
Pitaia Bank is the purely online bank that has no physical location. Offers the same services as other traditional banks. According to the CEO Simone Abravanel, "Today we launched the first Brazilian digital Blockchain bank for Bitcoin transactions.Pitaia Bank took an important step towards the adaptation of cryptocurrencies in Brazil".
Pitaia Bank will soon offer direct investments in cryptocurrencies like Bitcoin (BTC).
Malaysia wants to launch the world's first physical blockchain bank. This project was launched as a collaboration between CGCX.io, Archipelago Group and IBH Capital with the aim of bridging the gap between the traditional world and that of crypto-investment.
Singapore's encrypted company CGCX.io is taking responsibility for the technical part and offers an encrypted exchange with a wide range of services.
Anandh Swami, CEO of the company, commented: "Unlike most of the exchanges that only offer cryptocurrency trading, CGCX.io is distinguishing itself in the field of DLP (distributed ledger technology) by providing five platforms in a The only solution to offer a wide variety of services to its customers. "
The Malaysian Archipelago insurance group will guarantee the security of blockchain banking transactions. IBH Capital takes care of investments and asset management. IBH Capital CEO, Howard Choo, explained the reasons for the merger: "Today, we do business in a fast-paced market characterized by continuous changes, but the more things change, the stronger our commitment to supporting our core approach – creating value for our investors while remaining true to our customer-centric approach – a solid and sustainable investment approach through industry experience and in-depth analysis. "
The investment bank will be located in Labuan, Malaysia. First of all, CGCX.io will invite all the parties to join the community, but IBH Capital and Archipelago have not announced any details on their website.