Tag: Bank

Taurus is associated with the Turkish Bankpozitif Digital Bank


  • Taurus has associated with Bankpozitif to expand the adoption of custody of digital assets in the Fintech ecosystem of Türkiye.
  • The Swiss -based platform has recently launched its services in Solana and Hedera.

Taurus, the cryptocurrency custody supplier, has announced an important association with the Turkish Bankpozitif digital bank.

Taurus, based in Switzerland, said in a Blog post On March 4 that the strategic association with Bankpozitif will allow both to work together to expand the integration and adoption of digital assets throughout the Banking Ecosystem of Türkiye.

Institutional level custody solutions

The collaboration will allow Taurus to offer its Taurus-Protect and Taurus-Explorer solutions to Bankpozitif’s customers. Protect is a solution that offers an institutional level custody service for cryptocurrencies, tokenized assets and digital currencies.

Meanwhile, Explorer is a blockchain node and an indexing infrastructure service that allows users to take advantage of both public block chains and authorized.

Dr. Erkan Kork, president of Bankpozitif, commented:

“As we focus on innovative products and expand our investments in digitalization, this association with Taurus represents a significant step in our digital transformation trip. The Turkish bank sector has reached a size of 30 billion Turkish liras, and we are seeing unprecedented opportunities in Fintech innovation. ”

Lamine Brahimi, managing partner of Taurus, added:

“The combination of high adoption rates, growing institutional interest and constructive regulatory frameworks creates good conditions for innovation in digital asset banks. This association with Bankpozitif demonstrates our commitment to support the ambitious objectives of Türkiye in the space of digital assets, while providing the security and compliance capacities required by institutions. ”

The Taurus association with Bankpozitif makes it the last impulse of the cryptocurrency custody supplier in Türkiye. In 2024, Taurus announced an association with the Neobancaria Misyon startup.

The expansion recently saw Taurus take his solution to Solana. It has also been associated with the Hashgraph Association to carry custody, staking and tokenization of assets to Hedera (HBAR).

Taurus, backed by Deutsche Bank, also has a presence of tokenization in Switzerland and Germany.

Share-This-Article
Categories



https%3A%2F%2Fcoinjournal.net%2Fes%2Fnoticias%2Ftaurus-se-asocia-con-el-banco-digital-turco-bankpozitif%2F

The Central Bank of Sweden will not consider Bitcoin as currency


The Central Bank of Sweden, also known as Sveriges Riksbank, recently deepened in Bitcoin (BTC) to determine if the king cryptocurrency can be classified as currency. He established that he must comply with three criteria to be considered a currency: deposit of value, means of payment and account unit.

There is no reliable value reserve

The Central Bank indicated that Bitcoin is not a reliable value reserve due to its volatile nature. Said the following:

“If an asset acts as a value reserve, you must be sure that you can buy both today for, say, 100 Swedish crowns and tomorrow. The price of Bitcoin has had a high level of volatility, so it is a relatively poor protector. ”

Riksbank also indicated that despite being accepted as a means of payment in a small number of places, BTC is not as widely accepted as credit cards:

“If the asset acts as a means of payment, a buyer must be able to use the asset to pay and a seller accepts it as payment. There is no exact figure about how many companies Bitcoin accept as a means of payment, but Coinmap has a maps service of several merchants that accept bitcoin and ATMs where you can buy bitcoins. On May 13, 2022 there were approximately 29,500 merchants and vending machines on the map. In comparison, visa cards are accepted by more than 60 million merchants. ”

Volatility is blamed

The Central Bank also declared that Bitcoin cannot be used as a account unit due to constant price changes. Declared the following:

“If the asset works as a unit of account, it can be used to set the price of goods and services. The two above features come into play because it is more difficult to set the price of something if the value of the asset fluctuates a lot or if it is not used as a means of payment. ”

Bitcoin does not match 3 criteria to be currency

Finally, he indicated that because Bitcoin does not meet the three criteria to be considered currency, consider BTC only as an asset, but not as a currency:

“Bitcoin generally does not fulfill the three functions and therefore is not money, at least not in the sense that it functions as money in the traditional financial system and in society. A reasoning similar to many other cryptocurrencies can be applied. ”

Share-This-Article
Categories


Exit mobile version