Loan services secured with Bitcoin through Silvergate Bank and Bitstamp

Silvergate Bank and Bitstamp launch secured loan services with Bitcoin

US bank Silvergate, in partnership with Bitstamp exchange, launches secured loan services with Bitcoin. Called SEN Leverage, the service

“Will allow Silvergate Bank customers to obtain US dollar loans secured with Bitcoin, stored on selected exchanges that are also bank customers,”

mentioned in the press release.

Initially, the product will be available to the institutional clients of the bank. The Bitstsamp exchange will function as an agent for managing and securing custody for bitcoin collateral. Transfers and related payments will be made non-stop through the Silvergate Exchange Network.

36% of SMEs in the US accept cryptocurrency payments

A study by insurance company HSB and Zogby Analytics shows that 36% of small and medium-sized businesses in the US accept cryptocurrency payment. In addition, 59% of these companies have previously purchased cryptocurrencies for their own use.

The HSB survey found that newer firms are twice as willing to accept cryptocurrency payments. Specifically, 47% of companies that accept cryptocurrencies have been established in the last five years, compared with 21% of companies older than two decades.

The statistics were compiled in October last year and included 509 SMEs throughout the United States.

Ripple spent $ 170,000 per lobby in the US

According to Bitcoinist, the crypto company Ripple has spent $ 170,000 to promote cryptocurrencies in front of US lawmakers. The report was published by an organization monitoring Washington’s lobbying.

In October 2019, Ripple said he would open an office in Washington, D.C. The purpose of the office would be to deal with various compliance issues to support the industry.

The company has taken several steps to force MPs to take measures to promote blockchain and cryptocurrencies. In July 2019, Ripple published an open letter in the Wall Stret Journal calling for members of Congress to recognize the potential of blockchain and crypto in strengthening the economy.

He also contributed to the development of a bill called the “Token Taxonomy Act”, which would classify the different types of existing digital assets. Ripple has also joined the US Blockchain Association. He has hired several former political advisers to support his lobbying efforts.

Huobi joins the blockchain platform in Turkey

The crypto exchange Huobi has announced that it has become a member of the Blockchain Turkey Platform to cooperate with local players in technology promotion efforts.

Founded by the Turkish Informatics Foundation in 2018, Blockchain Platform Turkey (BCTR) is an independent non-profit organization. Its purpose is to create a healthy blockchain ecosystem in Turkey. The platform has members from the banking and financial sector, venture capitalism, information technology and crypto industries.

Huobi Company entered the Turkish market in October last year and is the first global exchange member of BCTR.