Belarus’ Largest Bank Launches Cryptocurrency Exchange Service
The largest bank in Belarus, Belarusbank, has reportedly begun providing a cryptocurrency exchange service, allowing customers to buy bitcoin using Visa cards.
Belarusbank’s new cryptocurrency exchange service is in collaboration with bitcoin exchange service provider Whitebird, several local news outlets reported Thursday. The bank revealed its plans to create a cryptocurrency exchange platform early last year.
Founded in 1991, Belarusbank merged with Sberbank of Belarus in 1995. The government of Belarus owns 99.95% of the bank’s capital. In 2018, the bank entered into a strategic partnership with Whitebird, a resident of Belarus’ Hi-Tech Park, which is also known as the Silicon Valley of Eastern Europe. Whitebird operates under Belarus’ legal framework and in accordance with Decree No. 8 of the President of the Republic of Belarus “On the development of the digital economy” and related decisions of the supervisory board of the Hi-Tech Park.
“This is a service that allows you to quickly buy or sell bitcoin (BTC) for USD [U.S. dollars], RUB [Russian rubles], BYN [Belarusian rubles] at the optimal rate at the time of the transaction,” Whitebird’s website details, adding that “The service works online” and “the purchase and sale procedure takes place using Visa payment cards.” Belarusbank plans to add buying bitcoin with euros in the future.
Initially, the bank’s new cryptocurrency service is available to citizens of Belarus and Russia, local media conveyed, citing the press service of the bank. In the future, Belarusbank plans to extend the crypto service to customers in other countries. The bank also plans to collaborate further with Whitebird to support more cryptocurrencies and provide additional related services.
What do you think about Belarusbank offering a crypto exchange service? Let us know in the comments section below.
Use Bitcoin and Bitcoin Cash to play online casino games here.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
In Case You Missed It
Doubleline Capital’s CEO, the billionaire “bond king” Jeffrey Gundlach, has predicted that the stock market is going to “crack pretty hard.” While he is bearish on the stock market and long-term bonds, Gundlach says bitcoin and gold are good for … read more.
Veteran investor Bill Miller says that all major banks, investment banks, and high net worth firms will eventually have some exposure to bitcoin or something like it. He said that bitcoin’s staying power is getting better every day. Bill Miller’s … read more.
On November 3, 2020, the cryptocurrency community noticed that one of the largest addresses holding 69,369 bitcoins from the Silk Road were transferred. Following the onchain movement, the U.S. government revealed it had seized the coins from a person they … read more.
JPMorgan has highlighted evidence of institutional demand for bitcoin and investors moving from gold exchange-traded funds (ETFs) to the cryptocurrency. The firm points out that bitcoin demand is driven not only by younger retail investors but also by institutional investors, … read more.
Economist Nouriel Roubini, also known as “Dr. Doom,” has admitted that bitcoin may be a store of value. Roubini sees a “big revolution” coming in the next three years due to central banks launching their own digital currencies. Nouriel Roubini … read more.
Not too long ago, the author of the controversial bitcoin stock-to-flow (S2FX) price model said that the model was “perfectly on track.” On Sunday, November 8, the S2FX creator known as “Plan B” reiterated his belief in the model and … read more.
A U.S. court in Seattle has sentenced a former Microsoft engineer to 9 years in prison after finding him guilty of 18 federal felonies relating to his elaborate scheme to defraud the tech giant $10 million. In passing the judgment, … read more.
Billionaire investor Stanley Druckenmiller has revealed that he owns bitcoin, calling it an asset class that has a lot of attraction as a store of value and could be better than gold. Stan Druckenmiller Owns Bitcoin Stanley Druckenmiller revealed on … read more.
Seven days ago Bitcoin’s network difficulty saw the largest drop in nine years as it slid over 16% last week. Similar to the crypto asset’s price, the hashrate has been extremely volatile according to statistics. After dropping to 111 exahash … read more.
According to a number of third party infrastructure providers, the Ethereum blockchain suffered an unintended hard fork or chain split on Wednesday. The service providers Infura, Binance, and Blockchair all reported issues with consensus at block height 11,234,873. The cryptocurrency … read more.
Hackers have stolen $100 million from decentralized finance (Defi) projects so far this year, according to a new report. Defi accounted for 50% of all hacks and thefts in the second half of the year. Defi Hacks on the Rise … read more.
During the last few months following the departure of the infamous Empire darknet market (DNM), a great number of DNM users have been flocking to alternative vendors. More recently, a new bot service on Telegram called Televend has been attracting … read more.
On Thursday, November 12, 2020, the blockchain firm Kirobo launched a tool that allows users to reverse ethereum transactions. Similarly to the replace-by-fee (RBF) protocol leveraged by bitcoin users, ethereum transactions can be reversed as well with Kirobo’s “Undo Button” … read more.
Payment processing giant Paypal announced on Thursday that “all eligible Paypal account holders in the U.S. can now buy, hold, and sell cryptocurrency directly with Paypal.” The news follows the company’s announcement to support crypto assets at the end of … read more.
This content was originally published here.