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Quontic Bank’s timing was both beautiful … or disastrous. Days immediately after the bank formally introduced an innovative bitcoin rewards checking account, the value of a one bitcoin, which experienced surged 230% in 2020, plummeted in a frenzied selloff.
Several observers viewed as the rout an “expected correction” driven in portion by a wave of gain-having at the start of the new calendar year. But the U.K.’s Financial Carry out Authority ominously warned shoppers searching to gain from cryptocurrency investments that they “should be well prepared to drop all their money.”
Not accurately the sort of headline that lender and credit history union marketers appreciate to examine.
So far, Quontic Bank is unfazed. It had been performing on the bitcoin examining undertaking for two years and CEO Steven Schnall was really effectively mindful of bitcoin’s price tag volatility. In fact the selloff, like huge corrections in other marketplaces, signifies a obtaining possibility.
“I feel that this…
- According to the source Why Bitcoin and Retail Banking Make a Good Combination
- Check all news and articles from the Cryptocurrencies news information updates.