The Daily: Crypto Startups Licensed in Poland, Dutch Bank Offers Coin Storage

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The Daily: Crypto Startups Licensed in Poland, Dutch Bank Offers Coin Storage

The Daily

In this edition of The Daily, the Polish financial watchdog has authorized two crypto companies to operate as payment service providers and a bank in the Netherlands now offers crypto storage to its clients. Also, recently leaked images show the long-awaited Samsung S10 may indeed come with a cryptocurrency wallet.

Also read: Huobi Downsizes, New OTC Desk to Launch in US

Poland Grants Licenses to Coinquista and Bitclude

The Polish Financial Supervision Authority, Komisja Nadzoru Finansowego (KNF), has licensed two crypto startups as payment providers. The companies, Coinquista and Bitclude, offer a number of services related to cryptocurrency such as digital asset exchange platforms and crypto wallets.

Although the license does not explicitly mention these products, the regulator explained that the two startups will be able to provide a variety of payment services and solutions for customers in Poland, Finance Magnates reported. That includes accepting cash deposits and withdrawals.

The Daily: Crypto Startups Licensed in Poland, Dutch Bank Offers Coin Storage

Furthermore, Coinquista and Bitclude will be authorized to process payment transactions, transfer funds, and execute direct debits. Under their licenses, the crypto companies will also be allowed to use payment cards and issue payment instruments.

According to Coinquista CEO Ireneusz Pukin, KNF‘s decision to register his company as a payment service provider proves the exchange can run legal business in Poland. Pukin also believes the move is an indication that the financial watchdog is not against activities such as those Coinquista is associated with.

In the past year, authorities in Poland took steps to regulate certain aspects of the crypto space without banning cryptocurrencies and related operations. In November, amendments to the country’s income tax regulations were introduced to incorporate the taxation of profits from crypto transactions.

ABN Amro Introduces Crypto Storage Service

ABN Amro, a bank based in the Netherlands, has recently launched its storage infrastructure for digital assets. The financial institution announced that 500 clients have already subscribed for the new service, which is still in testing mode.

The Daily: Crypto Startups Licensed in Poland, Dutch Bank Offers Coin Storage

According to the bank, its platform ensures secure storage for the private keys of users’ crypto wallets. ABN Amro also provides guarantees for digital assets worth up to €6,000 (~$6,800) that are kept with the bank.

The crypto storage solution is integrated with ABN Amro’s online banking interface used by its clients for regular transactions, Forklog reported. The crypto news outlet noted that in the summer of 2018, ABN Amro’s clearing arm launched a blockchain-based trading platform for securities and financial derivatives. The project was realized in partnership with Nasdaq, Euro CCP and Euroclear.

Leaked Images Show Galaxy S10 Has a Crypto Wallet

Samsung’s long-awaited anniversary edition phone, the Galaxy S10, may indeed feature a cryptocurrency wallet. The extra has been the subject of much debate and speculation but newly leaked images on social media appear to confirm this functionality has been added.

The flagship mobile device of the Korean electronics giant is scheduled to be presented to the public in February. However, it caught the attention of crypto enthusiasts long before its expected launch.

Rumors of the possible crypto wallet integration surfaced last year but were reportedly dismissed by Samsung. Later, news came out that the company filed to register a trademark in the United Kingdom that suggests it’s considering offering such a feature.

As seen in the leaked images, the slick new smartphone has an option in its menu called “Samsung Blockchain Keystore” that offers “a secure and convenient place for your cryptocurrency.” It allows users to either import an existing wallet or create a new one.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


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