Crypto-related companies and financial institutions

Crypto-related companies are evolving around the globe. There are many cryptocurrency exchanges as well as crypto mining and other companies.

Nevertheless, banks are still skeptical about crypto-related business activities. Moreover, several financial institutions already issued statements regarding crypto purchases. The clients of these banks won’t be able to purchase digital assets using credit or debit cards. For example, Well Fargo, as well as Lloyds, made it clear that they won’t accept such transitions.

Crypto exchanges around the world

Despite all the problems caused by financial institutions and other organizations, crypto markets continue to develop, and recently crypto exchanges created another service.

For example, the Hong-Kong based cryptocurrency exchange Bitfinex enabled crypto purchases with debit and credit cards for its customers around the world. It followed the footsteps of other exchanges such as Binance, which is one of the main players in this industry.

According to the statement, customers will be able to purchase Bitcoin, Ethereum, USDT, and other cryptocurrencies. All they have to do is to use their debit and credit cards.

Many crypto exchanges had to file for bankruptcy as they failed to adapt to everchanging crypto markets. Though, Bitfinex is not one of them as this exchange from Hong Kong is working to offer new services to its customers.

Bitfinex is working to keep up with the latest trends. One of the biggest issues connected with markets is money laundering and other illegal activities.

Bitfinex partnered with Blockchain analytics firm Chainanalysis. The purpose of this partnership is to deal with money-laundering. The real-time monitoring mechanism will help to identify high-risk outliers and a high volume of transitions.

Another exchange that made a similar decision is the Tokyo-based bitFlyer. It announced the launch of an Instant Buy option. BitFlyer will provide to its European customers feature and local instant transfer methods like Sofort, iDeal and GiroPay.