Legal field for ICO World Bit Bank : CurrencyTimes


CurrencyTimes : Banking is a sphere of heightened responsibility, that is why each new development designed for asset’s managing should get a registration card or license.

The first thing that needs to be mentioned is that getting license is rather difficult and long process, due to the extent and complexity of banking sphere. Each new company, that wants to get a registration should be ready for a rigorous audit, the results of which would confirm it’s efficiency as well as compliance with all declared characteristics.

The World Bit Bank project main goal is creation a legal field for cryptocurrency managing. That is why getting a license – was primary and highly important task.

Now, the WBB team is proud and happy to announce that they’ve got two licenses.

  • The first one allows «Providing a virtual currency wallet service»,
  • The second one is for «Providing services of exchanging a virtual currency against a fiat currency».

The World Bit Bank project will create a group of cryptocurrency banks by acquiring existing banks in different countries (USA, Canada, Brazil, Germany, UK, Switzerland, Turkey, India, Japan, Australia) to service cryptocurrency customers.

To deliver the full range of financial services, World Bit Bank will include the following:
• a cryptocurrency exchange;
• a leasing company;
• an insurance company;
• a cryptocurrency fund.

             That is the primary target.

What can this allow to provide?
By covering a large portion of the globe, we will be able to provide millions of people with banking services using cryptocurrency in conventional banking operations. Such services include: cryptocurrency loans, use of cryptocurrency in VISA/MasterCard debit cards, easy and cheap transfer and exchange of cryptocurrencies and many more financial transactions we make every day.