Bermuda To Launch a Crypto-Friendly Bank Soon

It Seems like the road is way clear and much clearer for the cryptocurrency and the blockchain community in Bermuda very soon. Reports state that, A private bank that is going to accept the cryptocurrency companies and blockchain that appears to be just around the horizon. On Thursday at the World Economic Forum in the Davos City, Switzerland, David Burt, the Bermuda premier had announced a one on one interview with a national media journalist, Priya Patel. This was one of the many events at the World, Economic Forum in Davos, Switzerland.

The discussion featured on the importance of focusing on quality over quality over quantity when accepting businesses. This is an issue which Burt said was the main focus for Bermuda looking at crypto and blockchain companies.

According to the sources, a Bermuda Official stated that “ I’m proud to say that next week we’ll be making an announcement revealing that a bank will be set up in the country that will start accepting crypto and blockchain companies.”

A national private bank in Bermuda has come into the picture, and are ready to accept the cryptocurrency and blockchain companies is now often one of the major stumbling blocks in most of the countries who are in search to exploit the open space. One of a case in point is Malta where banks are openly hostile to any crypto or blockchain company. Many industry firms are giving up on conducting business in the Mediterranean island nation, Bermuda.

This country is known as being one of the premier offshore financial centers in the world and is probably well placed to make the most out of the cryptocurrency and blockchain business. A cryptocurrency website has also reported that the Marshall Islands of the United States are well on its way to creating a regulatory framework for blockchain and crypto companies. Moreover, according to the sources who spoke to this website, has said that another European country, Switzerland was also looking at persuading banks to accept cryptocurrency and many more blockchain companies. This makes a clear sign, especially with its thriving ecosystem in the canton of Zug. However, a representative from Switzerland Global Enterprise said that discussions on this were already at an advanced stage.

About author


Jason Bailey is a financial journalist of EverCoinNews team and he is a strong believer of blockchain technology primarily because of how it reshaping the world economy and benefits of cryptocurrencies. He curates content for upcoming news stories of blockchain world and fintech industry. In his free time, he loves to explore new places and connect with influential people of crypto space.

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