Korea’s Largest Bank No Longer Crypto-Averse; Coinbase Card Hits Six More Countries

The top daily news from the cryptocurrency and blockchain space:

  • Korea’s largest bank working on cryptoasset custody service.
  • Coinbase Card expands to six more European nations.
  • CryptoCompare teams up with Nasdaq on cryptoasset pricing product.

At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $7,971.1 (+0.2%) and $248.1 (+1.0%), respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 3,936.5 (+0.7%).

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Korea’s Largest Bank Working on Digital Asset Custody Solution

KB Kookmin Bank, the largest bank in South Korea, is preparing to enter the crypto custody space, reported CoinDesk Korea, after having signed a strategic business agreement with blockchain startup Atomrigs Consulting.

The announcement is particularly notable, given that KB was one of the banks that “were reluctant towards providing crypto exchanges with banking services several years ago,” tweeted Joseph Young, one of the crypto industry’s most recognized analysts.

Both KB and Atomrigs will explore various other blockchain- and crypto-related business opportunities moving forward, also.

Coinbase Card Now in Six More European Countries

Top-tier cryptocurrency exchange Coinbase is launching its Visa debit card in six more European countries, CNBC reported. The expansion follows a successful debut in the U.K. roughly two months ago.

Known as Coinbase Card, the solution allows Coinbase users to spend cryptocurrencies like bitcoin (BTC), ether (ETH), and litecoin (LTC) in stores and online at any merchant that accepts Visa.

The six European countries Coinbase Card is now available in are Spain, France, Germany, Ireland, Italy, and the Netherlands. Regarding a would-be U.S. expansion for the card, Coinbase U.K.’s chief executive Zeeshan Feroz told CNBC the team “will be looking at all [its] key markets including the U.S.” For Coinbase to make the move, it firstly “needs to find the right banking partners,” the article explained.

CryptoCompare Partners with Nasdaq on Cryptocurrency Pricing Product

Leading provider of cryptocurrency data and indices, CryptoCompare, announced a strategic partnership with financial services giant Nasdaq to launch a new cryptocurrency pricing product: ‘Nasdaq/CryptoCompare Aggregate Reference Prices’.

The product will be made available on the Nasdaq-owned platform Quandl, a solution self-described as a “premier source for financial, economic, and alternative datasets, serving investment professionals.” The data set – which is delivered daily with an intraday data frequency – covers more than 140 of the most of liquid cryptoasset trading pairs.

Bittrex International Closes Service for More than 30 Countries

  • Bittrex International is closing its service for clients in more than 30 countries, including Venezuela.
  • Users have until Oct. 29 to withdraw their funds from the exchange. 

Cryptoasset exchange Bittrex International will no longer be offering services to clients in more than 30 countries, including Venezuela and Egypt. 

According to the press release, the exchange informed customers residing in the now excluded countries that they would no longer be able to use the services of Bittrex International. 

Users will have until Oct. 29 to remove their funds from the exchange, 

On October 18, Bittrex International informed customers who reside in certain countries (see full list below) that they can no longer use the Bittrex International platform due to regulatory uncertainty. All trading and account access for these impacted customers will be halted on Tuesday, October 29 date at 19:00 UTC/21:00 CEST.

Bittrex International, which is based out of Malta, published a guide for withdrawing funds from the exchange, including a warning that customers must have 3 times the withdrawal fee amount in order to do so. 

Among the countries listed was Venezuela, which caught community members by surprise given the country’s growing adoption for crypto. 

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