MicroStrategy’s Michael Saylor: Billions will choose Bitcoin for life savings

After a 24-hour low of $45,201 in the price, Bitcoin recently endured a major pullback.

1 billion people will store life savings on their phone in Bitcoin by 2026 — MicroStrategy CEO

The next five years will see the first billion people opting to store their wealth using Bitcoin simply using mobile devices, says the MicroStrategy CEO. Bitcoin (BTC) will be the savings method of choice for one billion people on their phones by 2026, MicroStrategy CEO Michael Saylor predicts. In an interview with CNBC on Feb.

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

The mainstream has caught a whiff of the gains cryptocurrencies like bitcoin and ethereum have seen, but many people are not aware of the passive income crypto users are getting as well.

Chinese bank tests biometric hardware wallet for digital yuan payments

Another Chinese banking institution has created a hardware wallet for the country’s central bank digital currency. China’s large-scale digital yuan testing across several cities continues to gather pace with some financial institution leading the development of hardware wallets for the central bank digital currency. According to news agency Xinhua, the Postal Savings Bank of China has created a biometric hardware wallet for the project. The biometric hardware wallet enables easy identity verification for users via fingerprint sensors on the card. Consumers participating in the CBDC trials in Beijing are also able to use the card to access healthcare services. Indeed, the Postal Savings Bank of China said the hardware wallet, which is still in the testing stage, was designed to provide easier access to the CBDC and healthcare services for the elderly without needing to use smartphones, adding: “With this card, it is much more convenient to enter and exit public places, and you can pay with just one touch.

BlockFi, Celsius, Nexo: What is The Best Crypto Savings Account?

Crypto savings accounts let you earn interest on your cryptocurrency, just like a regular bank account.

Binance-Backed DeFi Credit Union Platform Secures Partners, Funding Before Launch

Xend Finance will allow credit unions and cooperatives to earn interest on deposits by converting them to stablecoins.

Canadian Crypto Lender Ledn Raises $2.7M for Emerging Markets Expansion

After growing in Latin America, the firm wants to bring its micro-loans and stablecoin savings features to other emerging markets.

EU politician reveals her conversion to crypto — Eva Kaili

"Lots of my friends lost their savings because banks suddenly shut down and nobody would guarantee their life savings.

Winklevoss-led Gemini Launches High Yield Crypto Accounts

Gemini's new Earn service works kinda like a savings account for crypto.

Virginia tech firm offers staff option to get paid in Bitcoin, Ether

The company will allow employees to defer a portion of their salary and receive it as part of a savings plan, denominated in either Bitcoin, Bitcoin Cash or Ether. Sequoia Holdings — a software development services provider, not to be confused with the well-known venture capital firm Sequoia Capital — is offering its staff the option to set aside a portion of their salary and invest it in cryptocurrency. Sequoia Holdings is based in Reston, Virginia and provides engineering and analytic solutions to the United States national security sector, including the US intelligence, defense and homeland security departments.

State-owned Chinese bank rolls out ATMs for digital yuan

The Agricultural Bank of China has launched an ATM pilot program that enables citizens to convert cash and savings to and from the digital yuan.

Top US Banking Regulator: Banks Are Authorized to Use Public Blockchains and Stablecoins for Payment Activities

The top banking regulator in the US has announced that national banks and savings associations in the country can use public blockchains and stablecoins for payment activities.

Russia's Central Bank tries to stem the tide of rubles leaving bank accounts

With the declared intent of reducing risk, the moves look to cut new investors off from opportunities to get out of the ruble. Beginning investors in Russia will soon find themselves with fewer options to beat plummeting interest rates offered at Russian savings accounts.

Crypto user who lost $50,000 in LINK receives $11,000 donation in tokens

Jesse Johnson, co-founder of Aavegotchi smart contract on the Ethereum blockchain shared an update today with regard to an incident in which a crypto user lost his entire on-chain life savings in LINK The post Crypto user who lost $50,000 in LINK receives $11,000 donation in tokens appeared first on AMBCrypto.

A Crypto User Sent $50,000 to a Smart Contract. It's Gone Forever

Developers at Pixelcraft Studios have set up a special donation wallet to help a user who erroneously sent them all his life savings.

Ledger Wallet Customer Data Leak Invokes Threats, Phishing Scams, User Allegedly Loses Life Savings

The cryptocurrency hardware wallet firm Ledger was hacked last June and over a million emails were exposed, according to reports from the company at the time.

Google Enters Digital Banking Era With Launch of New ‘Plex’ Service

Google is teaming up with Citi to roll out the new Plex service, which offers online checking and savings accounts housed within Google Pay’s newly revamped digital wallet platform.

Discover a Way to Earn €8K a Month on Your Bitcoin and Savings

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Photo: Adobe Stock / Andrey Burmakin ArbiSmart.com is a regulated, crypto arbitrage investment platform which is generating an insane amount of buzz in the crypto space right now.

DeFi project Akropolis hacked for $2 million in DAI tokens

Akropolis has reportedly come under attack, with hackers draining the DeFi protocol’s savings pool to the tune of $2 million in DAI stablecoin.

Stablecoin Savings: Circle Launches High Yield USDC Accounts for Businesses

Two years ago the cryptocurrency firm Circle announced the launch of USDC, a stablecoin pegged to the US dollar.

Economy minister says Brazil will have its own CBDC

Paulo Guedes said that the Brazilian real will have a digital counterpart and also highlighted the autonomy of its central bank. Brazilian Economy Minister Paulo Guedes has said that Brazil will issue its own central bank digital currency, or CBDC. Guedes made the statement on Thursday during a ceremony celebrating the 100 millionth digital savings account opened at Caixa Economica Federal: "Now that the central bank is autonomous again, it’s also amazing in the digital dimension: Pix, OpenBank, fintechs and digital currency.

BBC Radio Scotland Show Goes Bullish on Bitcoin (and Whiskey)

Source: Adobe/goodman_ekim The UK may be preparing for a second countrywide lockdown, but the national broadcaster has a suggestion for those marooned at home wondering what to do with their dwindling cash savings. In an article on the BBC website created by BBC Radio Scotland’s Clever about Cash program, authors put forward “five alternatives to keeping your savings in the bank.” And

Indian crypto industry expanding, regulators seem reluctant to engage

As Cashaa launches crypto banking services in India, the cryptocurrency industry continues to grow despite uncertain regulations. The people of India are awaiting access to crypto banking services, as British-based fintech firm Cashaa has collaborated with India’s United Multistate Credit Cooperative Society to launch a crypto-centric banking company called Unicas that will initially open 34 branches in Northern India and plans to have expanded to 100 branches by next year.  Considering that India is largely a savings-driven economy, Unicas will also offer crypto saving accounts that pay interest on deposited crypto.

The Next Chapter in Yield Farming: Ethereum 2.0 and Sustainability

Chyna Qu. Chyna Qu is the Co-Founder and Chief Operating Officer of DeFiner, a decentralized finance network for crypto savings, loans, and payments. _____ Yield farming has evolved as a mainstream DeFi (decentralized finance) practice, involving investors, or liquidity providers, putting cryptoassets to work across the many DeFi applications.

Bitcoin is the best treasury reserve asset humanity’s ever had

You could easily lose up to 90% of your fiat savings to inflation alone in 100 years, but that would never happen with Bitcoin. At the time of writing this article, around 3.6% of Bitcoin (BTC) is locked up in long-term holdings by institutional investors.

Lossless Lottery PoolTogether Opens Up to More Coins, More Prizes

PoolTogether v3 will enable more ERC-20 tokens, more yield sources and more prize distribution schemes for the DeFi savings game.

Cryptocurrencies rank as popular investment asset in Russia

New research about Russia’s retail investment market indicates a prevalence of investment in cryptocurrencies and has ranked crypto as the fifth most popular investment asset, after savings accounts The post Cryptocurrencies rank as popular investment asset in Russia appeared first on AMBCrypto.

Hope Leads To Bitcoin, New NEO, Luno Launches Savings Wallet + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoption news MicroStrategy, an American software company that used its balance sheet to buy USD 425m worth of bitcoin (BTC), has redirected the hope.com domain to educational material about bitcoin, as was announced by

Luno Exchange Launches Interest-Earning Bitcoin Wallet

Users of Luno's new bitcoin "savings wallet" can earn up to 4% interest per year, the exchange said.

Crypto banks are going to swallow fiat banks in 3 years — or even less

In three years, a younger generation of banking customers won’t do business with a traditional fiat bank unless it offers access to crypto. Within a few years, a younger generation of financial services customers are going to be able to walk into a bank and gain access to credit products, savings accounts and investments that can host both crypto and fiat assets.

British fintech to expand banking services to Indian crypto customers

London-based banking company Cashaa will launch a crypto-friendly neo-bank in India The London-based online banking platform Cashaa is planning to launch a crypto-friendly neobank — or internet bank — in India.  Kuman Gaurav, the founder of Cashaa, told Cointelegraph that Cashaa India will allow Indian businesses and individuals to open a savings account with them and buy, store and save cryptocurrencies just like any other financial instrument. “For lending, we will be adding crypto assets class together with gold and real estate as collateral,” he said. Gaurav explained the need for a crypto-friendly bank in India, saying that most Indian banks are reluctant to provide banking services to the crypto users.

IBM Expands on Thailand's Blockchain Solution for Government Bonds

The solution to government issued savings bonds is part of a wider blockchain trend in the country.

IBM and Bank of Thailand Launch World’s First Government Savings Bond on Blockchain

The Bank of Thailand, the nation's central bank, has issued $1.6 billion worth of government savings bonds on the world's first blockchain-based platform on IBM Cloud.

Thai central bank issues $1.6B in government bonds on IBM blockchain

The Bank of Thailand has issued the world’s first blockchain-based government savings bond platform. The Bank of Thailand launched the world’s first blockchain-based government savings bond issuance platform using IBM’s blockchain technology. Within two weeks of the launch, the central bank sold more than $1.6 billion worth of savings bonds, as per IBM’s official announcement on Oct.

Startup Backed by Uber Co-Founder Poaches CoinList President Andy Bromberg

CoinList co-founder Andy Bromberg is leaving the token sale platform to helm Eco, a cryptocurrency built to marry savings and spending in one.

Origin Debuts OUSD, a Stablecoin That Works Like a Savings Account

Origin is announcing Origin Dollars, or OUSD, a stablecoin whose reserves leverage decentralized finance (DeFi) so that balances grow wherever it resides.

US Banks Can Now Hold Reserves for Stablecoin Issuers, Says Federal Banking Regulator

The US Office of the Comptroller of the Currency (OCC) on Monday published a letter clarifying that national banks and federal savings associations can now hold reserves for stablecoin issuers in the country.

Two US Regulators Have Good News For Stablecoins

After several years of operating in a regulatory grey area, US national banks and federal savings associations are now officially permitted to engage with fiat-backed stablecoins, the Office of the Comptroller of the Currency (OCC) has clarified.

South Australian food and wine tracing platform teams up with Hedera

The Australian government-backed supply chain traceability platform Entrust is launching on Hedera Hashgraph. The Australian government-backed agricultural supply chain platform Entrust has announced it will operate on Hedera Hashgraph — a distributed ledger platform claiming a transactional throughput of 10,000 transactions per second. South Australia’s premier, Steven Marshall, officially launched Entrust on September 20, describing the platform’s initial focus as protecting the wine and dairy manufacturing industries from counterfeit fraud in the global markets, and driving efficiency savings across agricultural sectors. Entrust is a software-as-a-service platform that tracks the movement of primary products (such as wine grapes) across the local agricultural supply chain, as well as the supply chain of the secondary manufactured products (in this case, the wine itself.) Geolocation, time-stamping, and other key data is immutably recorded to Hedera Hashgraph, and is accessible via web browser or mobile application. The beta platform is currently being trialed by more than a dozen companies based in South Australia’s Clare Valley wine region, and is tracking the movement of more than 250,000 liters of wine.

Stablecoin Reserves May Be Held in National Banks, US Treasury Office Provides Insight

The OCC announced that national banks and federal savings associations could hold reserves for customers with stablecoin assets.

US SEC, OCC issue first regulatory guidance for stablecoins 

US Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC) issued a stablecoin guidance on Monday for US national banks and federal savings associations to h The post US SEC, OCC issue first regulatory guidance for stablecoins  appeared first on AMBCrypto.

US Banks Can Hold Reserves for Stablecoins: Treasury Office

The US Office of the Comptroller of the Currency (OCC) has given the green light for national banks and federal savings associations to hold reserves for stablecoin issuers.

US banking regulator authorizes federal banks to hold reserves for stablecoins

Federal banks in the US see new capacity to provide services to crypto firms, specifically stablecoin operators. Per an interpretive letter from the US Office of the Comptroller of the Currency released on Monday, national banks will be free to hold reserve currencies for stablecoins. The new guidance reads, "We conclude that a national bank may hold such stablecoin 'reserves' as a service to bank customers." Alongside the announcement, Acting Comptroller of the Currency Brian Brooks noted that stablecoin services are already a part of many banks' activities: “National banks and federal savings associations currently engage in stablecoin related activities involving billions of dollars each day.” The letter does, however, specify that for now, this will only apply to stablecoins backed 1:1 with another currency, meaning that tokens dependent on "baskets" of currencies like Saga or some versions of Libra are excluded.  Tether (USDT) is a famous example of a stablecoin pegged to the US dollar, using reserves held in New York.

Checking In With Terra, the Korean Stablecoin Firm Bringing Online Shoppers to Crypto

Terra's stablecoin savings account is a month delayed but the project is gaining momentum with over 2 million users on the firm's Chai payments app.

Argentina’s Peso Plunges After Central Bank Tightens Foreign Exchange Controls: Citizens Discuss Bitcoin Adoption

The Argentine peso plunged by more than 10% shortly after the country’s central bank announced measures to tighten controls on the movement of foreign currency.