Another Major Swiss Bank Begins Accepting Cryptocurrency Assets

Yet another major Swiss bank, Maerki Baumann Private Bank in Zurich, announced it will begin accepting cryptocurrency.

Setting the Tone?

In July 2017, Switzerland’s Falcon Private Bank announced that it will be storing and trading bitcoin within its very own asset infrastructure, challenging the status quo as most banks in the country refuse to accept cryptocurrencies.

Now, another major bank – Maerki Baumann Private Bank in Zurich, will be accepting digital currencies. The only condition is that they would have to be received for a service or from successful mining. The mechanisms, which the bank will use to authenticate the origin of the cryptocurrencies, are yet to be revealed.

The bank outlined that it sees cryptocurrencies as alternative means for investors, and confessed that its experience on the matter is somewhat limited:

Maerki Baumann closely monitors the development of these investment vehicles and the underlying regulation without our commitment to engage in this area. This concerns investments in cryptocurrencies as well as the technologies required to trade and store these instruments. We currently see cryptocurrencies as alternative investment vehicles, but we have limited experience and data (prices, volatility, trading volumes) available in our house.

Serious Progress

Switzerland is definitely marking swift progress in the field of cryptocurrencies. Apart from the recent announcement of Maerki Baumann Bank, the parent company of the country’s stock exchange – SIX Group – announced in July that it intends to launch a fully-integrated digital asset infrastructure. It will be designated for trading, settlement, as well as custody of cryptocurrencies.

But the good news doesn’t seem to stop here. Germany is also making serious steps in the field. Germany’s second largest stock exchange Boerse Stuttgart also revealed plans to introduce a comprehensive suite of investment tools.

Just a few days earlier, the owner of the New York Stock Exchange – Intercontinental Exchange (ICE), teamed up with Microsoft, Starbucks, and other marquee companies to create a cryptocurrency exchange dubbed Bakkt.

However, despite the stream of positive news, bitcoin’s (BTC) 00 is still struggling to reflect the recent wave of positive news.

What do you think of Maerki Baumann decision to accept cryptocurrencies? Don’t hesitate to let us know in the comments below!

Images courtesy of Pxhere; Pixabay.

Published at Mon, 06 Aug 2018 23:00:29 +0000

Altcoins

December 2, 2017

4NEW – Could It Be The Next Bitcoin?

4NEW, the company operating Waste to Energy treatment plants, today announced a series of groundbreaking developments. 4NEW has successfully secured $30.5 million USD from institutional investors collectively. This enables 4NEW to complete its soft cap requirement facilitating the construction and realization of its first plant in its entirety.

LONDON – Dec 2, 2017 – The realization of the plant insures widespread adoption for its coin since consumers can start paying for their utility bills using the 4NEW services. Additionally, 4NEW has also received a number of mandates to beta test its timed blockchain payment system concept from a number businesses within multiple and diverse sectors. Sandeep Golechha said:

Our business to business strategy is demonstrating great results. We anticipate widespread consumer adoption through users of these businesses in 2018.

4NEW’s Initial Coin Offering (FRNC) for its utility token is currently underway for the general public ending December 15th, 2017. While this coin does not provide investors any share of the corporate profits currently, given that it is, strictly speaking, a utility token which represents a sale of future goods and services of 4NEW, nevertheless, it does offer holders of the coin an opportunity to avail themselves of various services, such as global money transfer services, insurance payments, telemedicine services, online pharmacy services, and Waste and Energy bill payment opportunities starting in 2018.

4NEW management is looking forward to listing on premier public exchanges, such as Bittrex, Poloniex, and Cryptopia in the coming weeks.

Earlier this month, 4NEW ordered the production of its first Waste to Energy plant for a staggering $24.83 million USD with delivery and subsequent installation of equipment to occur within 6 to 8 months between May and July 2018.

The first 4NEW plant will have a waste processing capacity of 72 tons per day of RDF, SRF, TDF, tires, plastics, medical waste, carpets, textiles, wood wastes, oil liquid waste, chemical waste, raw food packaging, animal by-products, and any type of hazardous and non-hazardous waste.

The plant will be able to generate 120 mega watts of power per day, which totals 43,800 mega watts of power per year. As part of the deal, 4NEW will also procure insurance coverage to secure its revenue from any equipment failure or unforeseen acts of God.

The first plant will drive annual sales of approximately $5 million USD under current capacity. However, 4NEW can add additional waste processing lines to their plant as additional funds are raised, thereby increasing output by 4 times per site. 4NEW also has options with lenders to explore debt financing in order to complete targeted acquisitions over the next 6 to 9 months.

The plant equipment has been ordered through Eco-Green Power Limited, a UK-based plant production company. Eco-Green currently has three sites where their plants are in operational use. These include 2 sites in Finland and 1 site in Denmark.

Last month, 4NEW successfully secured a $25 million round of funding from its first investor, Mirach Capital Group, a US-based private equity fund.

About 4NEW

4NEW will revolutionize and standardize the industries of Waste and Energy by offering services as a wholesaler within the Utilities sector that is fully integrated onto a decentralized, distributed ledger, enabling all actors within the industry to trade waste and energy transactions using the 4NEW Coins towards payments within the 4NEW ecosystem.

The 4NEW coins are utility tokens with built-in smart contract capabilities. They establish a binding relationship between two transacting parties and provide a value for each transaction. The ledger on the 4NEW ecosystem provides an immutable and audit-able journal of all transactions related to the buying and selling of energy and waste. Each transaction is transparent to all parties which allows them to see the same ledger entry and cost of reconciliation, thus controlling issues of dispute and revenue leakage to
a great extent.

Website: www.4new.co.uk
Video Link: https://www.youtube.com/watch?v=UjqcsBQkAwE
Telegram: – https://t.me/joinchat/EgIZbBDLYGHlhtbSS58i-Q
Facebook: – https://www.facebook.com/4newcoin/
Twitter: – https://twitter.com/4newcoin
Instagram: – https://www.instagram.com/4newcoin/
LinkedIn: – https://www.linkedin.com/company/4new/

Images courtesy of 4New.

The post 4NEW – Could It Be The Next Bitcoin? appeared first on Bitcoinist.com.

Another Major Swiss Bank Begins Accepting Cryptocurrency Assets

Setting the Tone?

Serious Progress

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About 4NEW