0
📰 News
452 views

Bitpie Bitcoin Wallet Partners with Major China's Bank, Binance Launches BNB P2P Trading in China – Is Crypto Ban Over?

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Yuri Molchan
    📰 News

    A major bank in China invests in the Bitcoin wallet Bitpie as Binance starts P2P BNB trading in China via the platform’s own app

Bitpie Bitcoin Wallet Partners with Major China's Bank, Binance Launches BNB P2P Trading in China – Is Crypto Ban Over?
Cover image via www.123rf.com
Contents

A Medium post reports that the China Merchant Bank (CMB) has made an investment in the Bitcoin wallet Bitpie. The investment amount remains undisclosed.

Today, the Binance exchange announced that it had launched BNB P2P trading for Chinese users via the mobile app of the exchange. In the light of the statement regarding blockchain the Chinese President made on Friday, this may seem as if the crypto ban in China will be over soon.

Bitpie and China Merchant Bank to use Nervos blockchain

Previously, the bank with a few other partners had supported Nervos Network with nearly $30 mln of investment. Bitpie had already been in a partnership with Nervos prior to that, using the blockchain for security purposes.

A Chinese crypto investor Dovey Wan confirms the data on his Twitter page. He says that the two partners are working to build a non-custodial wallet.

👉MUST READ

It's Official: Tron CEO Justin Sun Confirms Much-Hyped Partnership with Samsung

It's Official: Tron CEO Justin Sun Confirms Much-Hyped Partnership with Samsung

Binance enables peer-to-peer BNB trading for China

Today, on October 29, the Binance exchange spread the word on Twitter that it has launched P2P trading for BNB for Chinese users via it's smartphone app.

China is known for its hard attitude towards everything to do with crypto – ICOs, crypto trading. Although several major companies that raised investments before the crypto ban arrived in 2017 are now operating with no hurdles on behalf of the government, no new Chinese crypto companies are on the horizon.

Besides, China reportedly intends to greatly diminish the scale of crypto mining in the country, even though it shelters the lion share of Bitcoin hashrate.

In his recent statement, the Chinese President Xi Jinping said that the country must seize all opportunities that the blockchain technology offers. All DLT companies in China now expect some sort of preferences from the government, even though Xi Jinping pointed out that the country is going to embrace blockchain, not Bitcoin.

The reason for it is simple – China is about to launch its own cryptocurrency and does not want any rivals in sight.

 

What is your forecast regarding the future of crypto and blockchain in China? Feel free to share it in the comments section below!

 

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📰 News
60 views

Bitcoin Fixes This: Former PayPal Exec Has His Bank Account Axed for No Reason

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    Even Roelof Botha, one of the most influential venture capitalists in Silicon Valley, can have his bank account frozen without explanation by banking overlords

Bitcoin Fixes This: Former PayPal Exec Has His Bank Account Axed for No Reason
Cover image via 123rf.com

Venture capitalist Roelof Botha, the former chief financial officer of PayPal, took to Twitter to reveal that Bank of America suddenly decided to close his account without any explanation. Botha claims that he had been the customer of the aforementioned bank for 20 years. 

👉MUST READ

Ripple-Powered MoneyTap to Be Integrated by Major Japanese Bank

Ripple-Powered MoneyTap to Be Integrated by Major Japanese Bank

In its letter to Botha, BofA, the second-biggest US bank by assets, only mentioned that they had to cut him off after "a careful review of his banking relations."  

Multiple prominent names within the crypto industry suggested that the only reason for the termination could be Botha buying Bitcoin. Particularly, TechCrunch co-founder Michael Arrington, who also happens to be a huge crypto proponent, says that this is his only guess. 

CivicKey CEO Vinny Lingham and Guardian Circle co-founder Mark Jeffrey were also on the same page.  

👉MUST READ

Bitcoin Trading Volume Hits New ATH in Argentina After Central Bank Banned Purchasing Crypto with Credit Cards

Bitcoin Trading Volume Hits New ATH in Argentina After Central Bank Banned Purchasing Crypto with Credit Cards

Banks, which see crypto as an existential threat, still have strained relationships with the new asset class.

Moving across the pond, British cycling merchant Scott Snaith had his personal and business bank accounts frozen after making a transaction on a peer-to-peer cryptocurrency exchange. As a result, he didn't have funds to pay his employees.  

Back in August, British banking giant Barclays abruptly ended its partnership with Coinbase back in August 2019 after taking the crypto exchange under its wing in 2018. 

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings