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People are using the bitcoin digital currency more than ever before. That’s good news for this decidedly democratic money system, a system controlled not by big governments and big banks and big credit card companies but by a vast network of computers set up by users around the world.
“They’re making an iterative step,” Armstrong says of Wall Street. “They’ll do a few experiments. Maybe it’ll be a year or two. And they’ll realize that the blockchain is great, but that the biggest use of the blockchain is bitcoin. I still believe, 100 percent, that bitcoin is the future.”
Coinbase was specifically chosen by the exchange because of its commitments to transparency, security and regulatory compliance in the Bitcoin market.
Coinbase has added Singapore to the list of countries where you can buy and sell bitcoin using their platform. This is Coinbase’s first foray into Asia and it will allow users with Singapore Dollars to buy bitcoin.
As a result of the move, Canadian residents can now buy and sell bitcoin using Canadian dollars (CAD), deposit CAD funds into bitcoin wallets and trade CAD/BTC using the Coinbase bitcoin exchange.
With the expansion, they’re bringing both the exchange and their consumer wallet to the British market. UK-based users will be able to trade bitcoin against the British pound and the euro. CEO Brian Armstrong adds that they’re hoping to be in 40 countries by the end of the year.
The virtual currency bitcoin is getting a very real boost on Monday with the opening of the first licensed U.S. exchange. Coinbase Inc., a startup backed by $106 million from the New York Stock Exchange, banks and venture-capital firms, said its exchange will offer greater security for individuals and institutions to trade bitcoin and monitor real-time pricing of the cryptocurrency.
Coinbase said it raised $75 million in the single largest venture-capital fundraising by a bitcoin-related startup. Investors included banks and the New York Stock Exchange, apparently the first time any traditional financial institutions have taken direct stakes in a bitcoin enterprise.
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