Gemini exchange has recently partnered with the Colombian financial institution "Bancolombia" in terms of providing a cryptocurrency trading platform to the bank's customers.
The new platform will grant trading access in four top cryptocurrencies: Bitcoin BTC, Ethereum, Bitcoin Cash, and Litecoin.
With this move Gemini exchange grants entrance to cryptocurrency trading to major institutional and accredited investors in Colombia, regulated by Colombian financial agency SFC.
The first year of this joint operation between Gemini and Bancolombia is a test phase ("a regulatory sandbox") where eligible participants will be selected according to certain credentials.
In this strategic partnership, it is important to notice that once again Bitcoin Cash is selected by top financial institutions and offered as an exemplary cryptocurrency and financial asset.
Bitcoin Cash An Institutional Priority
Multiple established financial institutions are offering today Bitcoin Cash as an investment option to their customers.
Financial institutions always select bitcoin Cash within a small basket of cryptocurrencies offered to accredited investors, retail, and institutions. Usually, the four assets financial institutions are prioritizing are BTC, ETH, BCH, and LTC.
It is an important accomplishment for Bitcoin Cash to be considered and established cryptocurrency. The efficiency of the blockchain and the competitive advantages it offers when compared to the rest of cryptocurrencies make it a top choice.
The list below explains why Bitcoin Cash is a strategically important asset for any portfolio with exposure to cryptocurrency:
Grayscale (USA): (BCHG - GBTC - ETHE - LTCN - ETCG) (read more)
JPMorgan Chase & Co. (USA): (BCH - BTC - ETH - ETC) (read more)
SBI Holdings (Japan): (XRP - BCH - BTC - ETH - LTC) (read more)
21 Shares (EU): (BCH - BTC - ETH) (read more)
Interactive Brokers (USA currently): (BCH - BTC - ETH - LTC) (read more)
AMC Theaters - Bitpay (USA) (read more)
PayPal (USA & UK currently): (BCH - BTC - ETH - LTC)
Today, investors don't just ask for exposure in BTC but invest in more cryptocurrency assets for the long run. The innovation in the field drives institutional demand, and regulated financial entities develop and offer various financial products to fit the needs of their customers.
Bitcoin Cash is always there as a top-4 cryptocurrency in portfolio management.
The Binance Behaviour
While Bitcoin Cash is enjoying institutional acknowledgment, it still needs work to reach the position it previously held in the market.
In terms of market cap, various new cryptocurrencies have surpassed Bitcoin Cash. There are also fears of crypto exchanges manipulating the price of BCH and suppressing it in the derivatives market.
A Binance event occurred weeks ago, as the exchange apparently run out of BCH and temporarily suspended withdrawals. This event was met with various accusations against Binance exchange over-shorting Bitcoin Cash and selling just digits to users but no actual Bitcoin Cash.
Maybe CZ did not understand that "alt" is a BTC maximalist term to reduce innovation and stall the progress cryptocurrencies bring in the financial field.
Maybe this was a threat that his exchange was planning to constantly suppress the price of some "older" cryptocurrencies, just to "pump" those new ones with ties to Binance interests. Bitcoin Cash developments on-chain and on top of the blockchain are remarkable. With smartBCH enjoying organic growth, developers today are rushing to offer new services. Excitement is multiplying the value of the network, so perhaps CZ should rethink his approach.
Yet, we watch Binance supportive of various centralized and underdeveloped networks while everyone is suspicious of its handling of Bitcoin Cash.
While CZ often talks in riddles what we understand today, is there is something rotten in the Binance kingdom. Maybe all these calls of BCH price suppression and manipulation have valid grounds.
In Conclusion
Bitcoin Cash is always a top priority when crypto meets institutional adoption.
Bitcoin (BTC) and Ethereum are the top two selections for financial institutions and Bitcoin Cash is consistently the third choice.
The crypto news is as usual downplaying the importance of BCH being selected from a basket of cryptocurrencies and considered equally important as BTC and Ethereum by institutions.
Yet, this event is underlining the importance of diversification in various cryptocurrency assets for investors. It is recognition that Bitcoin Cash contains all the important enough features to be available as an investment asset.
Probably, when the crypto retail investors decide to do actual research instead of relying on Reddit and Twitter, it would help them find the cryptocurrency assets offering long-term potential, like Bitcoin Cash. Currently, we observe institutional investment and positioning, with the retail investors ignoring the merits of Bitcoin Cash.
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SLP and SmartBCH Wallets:
SLP: simpleledger:qp77an8yy98kgarhgmhurvmcrxslth0v9qgft6ypqk
SmartBCH: 0x2c09bc07354bad5b5c04b3661148d50a5fc087bc
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I agree in uganda we are starting a bitcoincash adoption,merchant and consumption