VISA Not Letting the Competition Get All the Spotlight
By Tyler Smith – Cryptocurrency Broker
After a recent announcement by Mastercard addressed their expanding support for cryptocurrency trading and transactions, VISA has also come forward with a similar press release, confronting and keeping up with competition.
VISA has a plan for providing a quicker and more natural way of spending digital currency worldwide. According to their announcement, Visa have seen more than 25 digital currency wallet providers link with their services. As these partnerships develop, VISA is aiming to extend the service to 61 million current users. Mastercard’s most prominent agreement is with Wirex, a platform that enables direct access to buy and sell cryptocurrency to its customers.
Similar to Mastercard’s Accelerate Program, VISA is also working on their FastTrack scheme. This in turn will help other FinTech and eccommerce platforms in the cryptocurrency space integrate more efficiently with Vias’s borderless network. They are also expanding their integration and support of blockchain networks and digital currencies in response to greater client and customer demand.
The research team at VISA’s organization is also conducting on-chain blockchain research, including exploring potential smart contract utility, improvement of security and privacy on Bitcoin and Ethereum. It also introduced their two new projects. The first, FlyClient, is a protocol aimed at completing transactional validations through nodes.
The other project is called Zether, a mechanism of payment that will enhance privacy when executing smart contracts. The values and goals which have been set by the two FinTech giants are quite remarkably similar, with a plan to add new partners and opportunities soon. They are also in talks with leading regulatory authorities and organizations from all over the world for compliance with anti-terrorism funding and anti-money laundering guidance.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards