XBT Provider AB has announced a custodial partnership with Xapo, a firm well know across the cryptocurrency industry revolutionising the possibility of spending cryptocurrency via traditional debit cards.
Bitcoin held in cold storage on behalf of investors in XBT Provider’s ETN will now be secured by Xapo.
XBT Provider has surpassed $100 million in assets under management.
“The team of professionals at XBT Provider has deep expertise in digital currency and extensive experience in financial services. We are excited to partner with them as they make bitcoin broadly available to investors outside of the U.S.,” said Wences Casares, CEO of Xapo.
XBT Provider recently announced their fund on the UK’s largest stock exchange Hargreaves Lansdown, giving investors the ability to purchase Bitcoin as an ETN.
A trial to pay Britain’s welfare claimants using blockchain technology has come under fire by the Open Data Institute.
The Department for Work and Pensions also know as DWP initiated initiated trials with GovCoin Systems earlier in June to pay benefits directly to claimants using a Blockchain system, the same technology behind the decentralised currency Bitcoin.
The Open Data Institute founded by Sir Tim Berners-Lee and Sir Nigel Shadbolt said the system was ‘very concerning’.
The Blockchain provides both complete transparency and security of transactions but also opens up the ‘Big Brother’ discussion as it would allow the DWP to monitor every penny spent by claimants.
– ‘There are hundreds of Bitcoin millionaires out there, and it’s burning a hole in their pocket’
Fancy views of the beautiful Mediterranean coastline with the prime minister as your next door neighbour? Then maybe it’s time to move to Caesarea for a slice of your very own paradise.
The property owner is offering his luxury villa for sale at nearly $3 million, but wants the buyer to pay in Bitcoin.
The villa is located on the Mediterranean coast, in a quiet cul-de-sac in the exclusive Caesarea area, and boasts seven large bedrooms, five bathrooms and a safe room, not to forget the outdoor heated pool shaded by tropical palm trees.
The luxury property was listed on BitPremier last week, a high-end website for ‘astute buyers in the Bitcoin community’, where shoppers can find everything from super yachts to vintage cars and private islands, all purchasable with the cryptocurrency.
Potential buyers will be surrounded by the wealthy elite, including Israeli Prime Minister Benjamin Netanyahu and Valery Kogan, who has a cool net worth of nearly $2 billion and is a close friend of Vladimir Putin.
Appearing on Israeli prime time television,the property’s owner, Eli, said,
‘I want to make history by selling my property for Bitcoin. Whether the price goes up or down, I’m prepared to take the risk.
‘There are hundreds of Bitcoin early adopters who became multimillionaires literally overnight, and it’s burning a hole in their pocket.
‘The location is not the normal place for a holiday home for anyone from outside Israel, but the Caesarea coastline is a hidden gem.’
Bitcoin is bought and sold on a peer-to-peer network independent of any central control. The currency’s cryptographic features make it attractive to the tech savvy, and enable anyone to shop online without fear of censors or government regulation.
The cryptocurrency was trading at £218 on the exchange yesterday, and recently, companies like Dell, Virgin Galactic, Expedia and PayPal have offered customers the choice to pay with the digital currency.
ZipZap inc – one of the most promising startups within the digital currency sector has allegedly terminated operations in the UK.
Until recently the “Cash 4 Bitcoin” service allowed customers to purchase Bitcoins in exchange for cold hard cash at thousands of locations around the country but apparently due to ongoing problems with PayPoint (the company that manages the payment processing infrastructure behind ZipZap) cash deposits have been terminated until legal clarity around digital currencies is released by the UK government and Financial Conduct Authority.
ZipZap enabled customers to simply pop into one of 28,000 PayPoint participating shops across the United Kingdom and exchange cash for Bitcoins with minimal effort.
The launch of ZipZap was exciting news for the Bitcoin community for a number of reasons. It removed the risk of transferring funds to unlicensed exchanges in Europe, opened up the cryptocurrency up to a wider UK audience for easier adoption and made the process of buying Bitcoins as easy as topping up your phone with a voucher!
At the time of writing no public announcement has been issued by ZipZap, leaving the possibility of this exciting service uncertain.
An undisclosed source with close ties to the Bitcoin community recently stated:
Due to the ease of purchasing Bitcoins with cash, money laundering issues have arisen and are the culprit behind the services abrupt closure.
With no legislation in place, it is a shame that genuine UK businesses are being deprived of the opportunity to innovate and create better services for the British people.