By Mark - cryptocurrency broker - 30-11-2021
Crypto.com continues to grow its cryptocurrency exchange platform by expanding its services to institutions. The platform is collaborating with Silvergate, a state-charted bank based in California, to enable clients from larger institutions to be able to process crypto transactions with USD. The platform where users can buy and sell Bitcoin (BTC), Crypto.com, had recently announced this past week that bank transfers coming in and out of the exchange are now open to institutions. Institutional investors can send USD at any time through the payment gateways platform, the Silvergate Exchange Network. In more detail, institutions can transfer dollars straight from their bank accounts to Crypto.com and back without gas fees. Crypto.com had also stated that the feature enables their institutional clients to access all exchange markets.
The CEO of cryptocurrency trading platform Crypto.com, Kris Marszalek had stated that the feature has long been in high demand. He further explained that this is all part of the platform’s dream to increase wide spread adoption for cryptocurrency. The partnership between Crypto.com and Silvergate will provide users with an on/off solution for crypto-to-fiat transactions.
In other news, Crypto.com has also partnered with Circle, a stablecoin company that mints USDC, to provide USD transaction on the platform. Originally, Crypto.com worked with Circle to give institutional investors the ability to transact USD via deposits and withdrawals across over 60 countries. The two companies are known for collaborating in the past as they previously integrated USDC transfers in at least 30 countries.
If you are looking to start Buying and Selling Bitcoin, then you can head over to BC Bitcoin where you can safely start trading trusted bitcoin today.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards