• Coins MarketCap
    • Coins MarketCap
    • Crypto Calculator
    • Top Gainers and Loser of the day
  • Crypto Exchanges
  • Bitcoin News
  • Crypto News
    • Cryptocurrency
    • Blockchain
    • Finance
    • Investing
    • View all latest Updates regarding crypto
Tuesday, January 31, 2023
WIREOPEDIA
No Result
View All Result
Contribute!
CONTACT US
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
WIREOPEDIA
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
No Result
View All Result
WIREOPEDIA
No Result
View All Result
Home Blockchain

Gemini Partners With Major Colombian Bank: Bancolombia

wireopedia memeber by wireopedia memeber
December 7, 2021
in Blockchain, Crypto, Crypto Market, Cryptocurrency, Finance, Investing, Market
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

You might also like

Elon Musk wants Twitter payments system built with crypto in mind

Why Binance Opened 90% Of Accounts Closed For An U.S. Investigation

SBF’s bail bond co-signers may soon be named

New York-based cryptocurrency exchange Gemini just announced its partnership with Colombia’s largest bank Bancolombia under the country’s Regulatory Sandbox.

The two parties share the same mission to offer crypto services in Colombia. The project is expected to launch next week – specifically on December 14th.

Gemini And Bancolombia Team Up

According to the announcement, Gemini has completed all the necessary steps to move into the implementation phase.

The strategic collaboration will offer people in Colombia a new option to buy their preferred digital currencies using their Bancolombia accounts.

In other words, users of Bancolombia can directly link their account with their Gemini account and use it conveniently to purchase crypto, as easily as purchasing any other product.

This partnership is of immense importance for the development of the local crypto industry as Bancolombia is the largest bank in the country, with total assets reaching $275.76 billion in 2020 and more than 16 million users in the same year.

The estimated period of the project is one year, starting on December 14, 2021. During that time, all eligible users will be able to buy Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) from Gemini using their Bancolombia account.

While the move could serve to drive millions of Colombians into the world of crypto, the service will be limited to a handful of users for now.

However, neither Gemini nor Bancolombia has official statements regarding the eligible individuals for the service.

Gemini is Going Global

As for Gemini, the partnership contributes to Gemini’s strategic plan to expand in Latin America. The major exchange has reached notable milestones since its launch, marked by multiple partnerships with tech giants and bank forces.

In May 2020, the exchange became the first US exchange to team up with the world’s leading conglomerate Samsung Electronics.

The aim is to bring the cryptocurrency into the hands of Samsung Blockchain Wallet users in the US and Canada. The integration will allow Samsung Blockchain Wallet users to connect to the Gemini mobile app to buy, sell, and trade cryptocurrencies.

By the end of April this year, Gemini and Mastercard have formed a strong partnership to introduce a cryptocurrency rewards credit card. The first one-of-kind credit card offers up to 3% bitcoin cashback to users.

Gemini was also announced as the world’s first licensed Ethereum (ETH) exchange. Gemini customers can make bulk purchases of cryptocurrencies in transactions.

Banks Are Embracing Cryptocurrency

The volatility of digital currencies, mostly of Bitcoin and Ethereum, is always the biggest concern to get banks on board.

As the value of these currencies fluctuates, many central banks have questioned the practicality and volatility of these virtual assets. At some point, it’s not exaggerating to state that central banks and crypto couldn’t exist under the same roof.

Central banks, in one way or another way, tried to hit the power of decentralized digital financial payment. The most significant act belongs to the People’s Bank of China in a clear declaration of cryptocurrency crackdown in September.

The POBC said that buying and selling virtual currencies led to the rise of money laundering and investment fraud, as well as other illegal activities.

The country has its point. But the truth is the fact that we all recognized, the powers failed to control the rapid growth of virtual currencies, and obviously, it puts them in an afraid mood of disrupting their economic order.

Unlike the strict act of China, regulators of other countries started to embrace cryptocurrencies. Instead of killing them, their choice now is to regulate them. That explains banks are recently more open to the idea of implementing Bitcoin, or Ether. The green light shines on the crypto community.

On the same day of Gemini’s announcement, Mumbai-based financial services and banking firm Kotak Bank has shaken the crypto community in India through its collaboration with WazirX. It has been 8 months since crypto-related activities froze in India. The acceptance is slowly bouncing back.

The post Gemini Partners With Major Colombian Bank: Bancolombia appeared first on Blockonomi.

Read Entire Article
Tags: BlockchainBlockonomiCoin SurgesCryptocurrenciesMarket StoriesTrading
Share30Tweet19
wireopedia memeber

wireopedia memeber

Recommended For You

Elon Musk wants Twitter payments system built with crypto in mind

by wireopedia memeber
January 31, 2023
0

Twitter’s upcoming payments tool will initially support only fiat currencies, but Elon Musk wants it built to

Read more

Why Binance Opened 90% Of Accounts Closed For An U.S. Investigation

by wireopedia memeber
January 31, 2023
0

Following the collapse of the crypto exchange FTX, most global regulators intensified their watch on crypto-related activities and platforms like Binance As a result, some have opened investigations

Read more

SBF’s bail bond co-signers may soon be named

by wireopedia memeber
January 31, 2023
0

The judge overseeing Sam Bankman-Fried’s criminal case has decided that the names of two bail bond signers can be revealed, as determined in a January 30 filing The...

Read more

Bitcoin Spiked to $23,960, But Traders Are Not Very Greedy

by wireopedia memeber
January 31, 2023
0
Bitcoin Spiked to $23,960, But Traders Are Not Very Greedy

Sentiment data reveals that the Bitcoin price upwards trend from November lows to as high as $23,960 on January 30 was marked by “sober” traders Related Reading: Gala...

Read more

Bitcoin Soars In Nigeria As Government Promotes Digital Cash

by wireopedia memeber
January 31, 2023
0

Bitcoin (BTC) has seen an exponential increase in demand in Nigeria as the country’s central bank encourages the population to switch to digital cash As a result, the...

Read more
Next Post

Fidelity To Offer Bitcoin-Backed Loans Through Nexo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

KNC Bulls Target $2.0 Resistance as Tamadoge Remains Bullish

August 22, 2022

Elon Musk announces Dogecoin payments for Tesla merch

December 14, 2021

Food start-up Sessions toasts Guinness backing in £7.5m fundraising

January 4, 2022

Browse by Category

  • Blockchain
  • Breaking News
  • Business
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Finance
  • Health Care
  • Investing
  • Market
  • Politics
  • Strange
  • Technology
  • UK News
  • US News
  • World
WIREOPEDIA

Wireopedia is an automated news feed. The Wireopedia AI pulls from sources with different views so you can see the various sides of different arguments and make a decision for yourself. Wireopedia will be firmly committed to the public interest and democratic values.

Privacy Policy     Terms and Conditions

CATEGORIES

  • Blockchain
  • Breaking News
  • Business
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Finance
  • Health Care
  • Investing
  • Market
  • Politics
  • Strange
  • Technology
  • UK News
  • US News
  • World

BROWSE BY TAG

Bitcoin Bitcoinist Bitcoinmagazine Blockchain Blockonomi Breaking News Business BuzzFeed Celebrity News Coin Surges Cointelegraph Cryptocurrencies Cryptoslate Defense Entertainment Health Care insidebitcoins Market Stories newsbtc Politico Skynews Strange Technology Trading UK US World

RECENT POSTS

  • Love Island stars Molly-Mae and Tommy Fury welcome their first child
  • Elon Musk wants Twitter payments system built with crypto in mind
  • Why Binance Opened 90% Of Accounts Closed For An U.S. Investigation
  • Pick Some Outfits And We’ll Tell You Which SZA Song You Are
  • SBF’s bail bond co-signers may soon be named

© 2022 WIREOPEDIA - All right reserved.

No Result
View All Result
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
  • Contribute!

© 2022 WIREOPEDIA - All right reserved.

  • bitcoinBitcoin(BTC)$22,867.00-3.39%
  • ethereumEthereum(ETH)$1,569.87-4.14%
  • tetherTether(USDT)$1.000.12%
  • usd-coinUSD Coin(USDC)$1.000.07%
  • binancecoinBNB(BNB)$310.09-1.72%
  • rippleXRP(XRP)$0.392716-5.04%
  • binance-usdBinance USD(BUSD)$1.00-0.03%
  • cardanoCardano(ADA)$0.372125-5.15%
  • dogecoinDogecoin(DOGE)$0.0927073.71%
  • matic-networkPolygon(MATIC)$1.09-5.75%
  • okbOKB(OKB)$37.99-3.51%
  • solanaSolana(SOL)$24.05-5.28%
  • staked-etherLido Staked Ether(STETH)$1,566.26-4.16%
  • polkadotPolkadot(DOT)$6.22-5.08%
  • shiba-inuShiba Inu(SHIB)$0.000012-1.21%
  • litecoinLitecoin(LTC)$95.09-0.14%
  • avalanche-2Avalanche(AVAX)$19.56-5.04%
  • tronTRON(TRX)$0.062698-1.44%
  • daiDai(DAI)$1.00-0.05%
  • uniswapUniswap(UNI)$6.53-5.05%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,854.00-3.12%
  • cosmosCosmos Hub(ATOM)$13.22-3.55%
  • chainlinkChainlink(LINK)$6.96-4.84%
  • bitcoin-cashBitcoin Cash(BCH)$133.62-1.14%
  • stellarStellar(XLM)$0.090731-3.41%
  • crypto-com-chainCronos(CRO)$0.078011-4.65%
  • nearNEAR Protocol(NEAR)$2.31-8.30%
  • filecoinFilecoin(FIL)$5.11-5.64%
  • algorandAlgorand(ALGO)$0.240707-6.29%
  • vechainVeChain(VET)$0.023189-4.40%
  • axie-infinityAxie Infinity(AXS)$10.70-9.81%
  • elrond-erd-2MultiversX(EGLD)$42.43-5.45%
  • terra-lunaTerra Luna Classic(LUNC)$0.000166-5.03%
  • compound-ethercETH(CETH)$31.54-4.05%
  • ftx-tokenFTX(FTT)$1.91-20.60%
  • terrausdTerraClassicUSD(USTC)$0.021502-3.39%