News

Everest Receives Crypto Custodian Approval

img-ads


Everest has been operating as a regulated crypto custodian under the transitory provisions of the Virtual Financial Assets (VFA) License from the Maltese Financial Services Authority (MFSA) since October of 2018. The latest in principle approval is the final step in receiving a VFA license. The services Everest provides to experienced and non-experienced users are the following.

  • Reception of deposits and issuance of instructions
  • Execution of orders on behalf of other persons
  • Custodian and nominee services

Everest’s unique CRDT token, a VFA, empowers businesses and users to program fiat currencies for specific purposes, times and places. Such a universally programmable and regulated currency opens up international market access and various use cases, including conversion to crypto, access to trading, cross-border, DeFi and other services. With integrated KYC/AML and digital identity, plus the ability to reach all of humanity (including the four billion without smartphones) and an L2 ledger (fast and low-cost), Everest delivers a complete solution.

Everest’s CRDT token transparently facilitates value transfer across any fiat currency and financial rails anywhere in the world – similar to the aspirations of Libra/diem. In addition to being a regulated custodian, Everest is registered in countries around the world. With fiat and crypto accounts, Everest enables the transfer of money/crypto/value quickly and efficiently. Other use cases include intra-bank settlement, akin to SWIFT, and empowering traditional financial institutions to compliantly and easily participate in the crypto and DeFi revolution.

Everest CEO Bob Reid said,

“Everest is pleased to have collaborated with the MFSA over the past 2+ years to ensure consumer protection and adherence to GDPR. As part of the European Union, the MFSA produced the most comprehensive and rigorous standards for virtual assets/crypto in the world, and we are proud to have achieved this milestone.”

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

Follow Us on Twitter Facebook Telegram

 

img-ads

Leave a Comment

Your email address will not be published.

You may also like

Bitcoin Blockchain Markets

Finance Redefined: Ethereum exodus continues as Binance ‘helps,’ Feb 17–24.

The parabolic rise of the Binance Smart Chain has been all over the news this week, aided by a few seemingly unfriendly moves by the exchange itself.

It started on Friday, when Binance suddenly froze withdrawals of Ethereum-based assets for about one hour. Many interpreted it as a move against the blockchain and its ecosystem, given that the cited reason was “congestion issues” — something one hardly imagines is a problem for an exchange, unless they shoulder withdrawal costs for the user.

The day after, FTX started shaming Binance for excessive promotion of BSC on the exchange. Specifically, FTX was apparently “spending millions” in failed deposits that came over the Smart Chain but were meant for Ethereum. FTX’s accusation toward Binance, one of its investors, is that the exchange put BSC as the default option for withdrawing many ERC-20 assets, which caused a lot of…

View More Article
Blockchain Latest Tech

Blockchain soccer gaming startup Sorare raises $50M

Sorare, a major blockchain-based soccer gaming platform, has raised $50 million from high-profile investors backing major companies like Twitter, Instagram and Discord

The fresh Series A round brings Sorare’s total funding to $60 million, the company told Cointelegraph Thursday.

The funding round was led by Benchmark, an investment giant famous for funding companies like Twitter, Uber and Snap. Accel Partners was another lead investor, known for backing companies like Facebook and Spotify. The round also included some additional investment from investors like Reddit co-founder Alexis Ohanian, VaynerMedia CEO Gary Vaynerchuk, and Barcelona striker Antoine Griezmann.

With the new funding, Sorare is planning to continue growing its ecosystem, including launching a mobile application and onboarding the top global 20 football leagues. “We’re designing an experience where fans can celebrate, share, and live football moments at a deeper connection. We’re making fantasy football a reality,” Sorare said.

Founded in 2018, Sorare…

View More Article
Bitcoin Tech

Coinbase has held Bitcoin on its balance sheets since 2012

United States-based cryptocurrency exchange Coinbase has revealed that Bitcoin (BTC) and other crypto assets have been a key component of its corporate treasury since the company’s founding back in 2012. 

In a new announcement addressed to other corporate actors, the exchange presented its own experience in managing its treasury position in cryptocurrencies as a solid foundation for advising other private and publicly-traded companies about how to deal with their own prospective investments. 

In a newly-published, highly detailed Corporate Treasury FAQ, the exchange provides a thorough overview of the kinds of investment, accounting, and tax policies that companies would need to consider and adopt if they wish to diversify their treasuries into crypto. 

The FAQ is both a general resource that covers all manner of regulatory, auditory, technical and investment questions about crypto from a corporate investment perspective and a pitch for companies to…

View More Article
Bitcoin Latest

People who bought Bitcoin in 2017 becoming the strongest HODLers, new data shows

Bitcoin (BTC) may be worth almost three times more than at the height of its 2017 bull run, but a lot of hodlers from that time refuse to sell.

The latest data from Bitcoin financial services firm Unchained Capital shows that 2017 buyers control an increasingly large amount of the BTC supply.

2017 hodlers are not “weak hands”

According to Unchained’s HODL Waves chart, which ranks the supply according to when coins last moved, those who bought three to five years ago are sitting on their investment.

Since the cross-asset crash of March 2020, when BTC/USD fell to lows of $3,600, the percentage of the BTC supply that last moved between February 2016 and February 2018 increased from 5.57% to 13.38%.

In other words, the uptrend in price during 2019, much of 2020 and all of 2021 has not made 2017 bull run investors sell after surviving the multi-year…

View More Article
Bitcoin Tech

What Bitcoin price levels will invalidate the short-term bearish scenario?

The price of Bitcoin (BTC) is continuing to range between $48,000 and $51,000, unable to break out of the $51,600 resistance level.

If Bitcoin struggles to surpass the $51,600 resistance area in the near term, technical analysts say the probability of a correction rises.

BTC/USDT 4-hour price chart (Binance). Source: TradingView

$51,600 is the key level to watch

According to Josh Olszewicz, a cryptocurrency trader and technical analyst, the $51,600 level is currently acting as a strong resistance level.

For Bitcoin to retest the all-time high at $58,000 and initiate a potential rally towards $62,000, it needs to cleanly move past $51,600, he explained. 

Hence, a rally beyond $51,600 is the clear invalidation point for any short-term bearish scenario for Bitcoin.

The failure to break out in the near term could result in a bearish test of lower support areas, found at around $42,000. He said:

“If 4h breaks down,…

View More Article
Blockchain Markets Tech

Former MLB star sells $1M worth of NFTs in one minute

Micah Johnson, a former MLB player-turned artist, sold a whopping $1 million worth of tokenized art in just one minute on the Winklevoss-owned NFT marketplace Nifty Gateway.

The auction, which launched on Feb. 21 and lasted for 28 hours, generated $2 million worth of sales in total. The auction sold NFTs representing a painted sculpture made from hand-casted resin dubbed AKU: The Moon God.

The physical AKU sculpture was also sold during the auction, fetching $305,000. The sculpture will be deposited into a vault and is subject to a two-year lockup.

The purchaser also receives exclusive access to view the sculpture — which is stored in a physical vault at the Art Angels gallery in Miami, and can resell the sculpture at any time by transferring their token.

Speaking to Cointelegraph, Johnson expressed his intention to demonstrate how non-fungible tokens can create unique experiences and utilities that go…

View More Article
%d bloggers like this: