SIA and Hex Trust will offer digital asset custody services to European banks
As the director of SIA for innovation and business solutions Daniele Savarè notes, having one bitcoin is not a problem in terms of storage. However, when they "get 10, 20 or 100, you have to decide where to safely store them." Savare added that the company is already discussing the storage needs of digital assets with banks in Europe.
SIA wants to prepare its clients for the expected wave of heightened interest in cryptocurrency investments. Savare believes such a trend is likely as Grayscale and Microstrategy have recently increased their investments in BTC and other cryptocurrencies over the past few months. In addition, earlier this month, Jack Dorsey Square's company bought 4,709 BTC for $ 50 million.
SIA will also help banks develop storage solutions for stock tokens and government cryptocurrencies, if issued. SIA is a multinational company, the acquisition of which was announced in early October by Nexi, the largest payment operator in Italy. The company also provides the network infrastructure for an interbank transfer system in Italy on Corda R3, which has recently been joined by 42 more banks.
With the help of SIA, Hex Trust plans to offer European banks software for storing digital assets on behalf of its clients. Hex Trust will also act as a sub-custodian for banks that do not want to directly offer such services, said CEO Alessio Quaglini.
Hex Trust is currently working with Mason Privatbank Liechtenstein AG and two unnamed Asian banks. Quaglini said ten other banks are looking into Hex Trust's custody products. In April of this year, Hex Trust also partnered with R3 to offer the consortium's clients another option for issuing share tokens.
According to Quaglini, in the future, SIA will become the main distributor of Hex Trust, offering digital asset custody services to banks in Europe.
USDT gambling sites closed in China
🇨🇳According to a statement from the NBK Huizhou branch, 77 suspects have been arrested and three USDT gambling sites have been shut down. The statement was made through the CBA's official WeChat channel and confirmed by a source who wished to remain anonymous.
🇨🇳The arrests were made in connection with alleged money laundering, which used assets obtained from illegal online gambling, including the stablecoin USDT. According to law enforcement officials, the total amount of money laundered is 120 million yuan ($ 17.95 million).
🇨🇳According to the NBK, “the opening of a casino and participation in online gambling is illegal. “Don't be curious and lucky. Any “disguise” will not help to avoid regulatory oversight ”.
Bill Barheidt: "I converted half of my investment to bitcoin"
Beirheidt noted that Bitcoin is now evolving towards privacy, and this is very important for the future of the "digital world". Limited emission of bitcoin also plays a role, especially against the backdrop of the "printing presses" launched by the central banks of many countries.
In addition, the CEO of Abra noted that in terms of technical analysis, the situation in the cryptocurrency market is now similar to what it was before the previous bull cycle. Beirheidt wrote on Twitter:
“Several weeks ago I increased my bitcoin volume. Now in BTC I have 50% of the investment portfolio. I believe that Bitcoin is the best investment opportunity in the world right now. There are three reasons for this at once: fundamental factors, technical analysis and market sentiment. "
In early October, the co-founder of Abra already spoke out in support of bitcoin. Then he said that for the first time in five years, he was confident in the imminent growth of the rate of the first cryptocurrency. Considering that the BTC rate has grown significantly over the past week, Barheidt's forecast turned out to be correct.
Wonderful decision they made there.