Binance’s Trust Wallet Adds Support For Privacy Coins, And Switzerland’s Third Largest Bank Integrates Crypto

The market continued to make small gains today, adding nearly $1.5 Billion to the total market cap in the last 24 hours. Most cryptocurrencies are up by less than 1% in the last 24 hours. Also, Coinbase enabling XRP trading yesterday had very little effect on its price. Ethereum is expected to become volatile over the next couple of days as we near Constantinople hard fork. Historically, there has been significant price action around Ethereum upgrades.

In other news, at the Mobile World Congress this week, HTC revealed that it is making its blockchain phone EXODUS 1 more widely accessible by accepting the US Dollar and other fiat currencies. Additionally, they’ll accept more cryptocurrencies such as Binance’s native currency BNB token. HTC’s decentralized chief officer said this is the core launch after last year’s early access period. The phone will retail at $699 and is only available online. Also, Sony, the Japanese multinational conglomerate, and the IT equipment services firm Fujitsu have announced a recent collaboration that resulted in the creation of a blockchain-based encrypted database for educational proficiency documents. The goal of the platform is to help prevent forgeries of language proficiency documents that some foreigners are reported to use in order to receive resident status to study in Japan. The platform was created by combining Fujitsu’s online learning system with a blockchain developed by Sony subsidiary Sony Global Education Inc.

Trust Wallet, a cryptocurrency wallet acquired by Binance last year has added support for Zcoin and Zcash.

This is the first time that Trust Wallet will be supporting privacy coins. Trust Wallet is also set to support Binance’s upcoming decentralized exchange, Binance DEX. Commenting on the new additions, Trust Wallet founder Viktor Radchenko said, “Privacy is one of our core values, as it is an inherent human right. For us, it is very important to support as many privacy feature coins as possible.” Zcoin was the first cryptocurrency to pioneer Zerocoin Protocol and implement Merkle Tree Proofs. Zcoin’s blockchain was recently used to conduct an election in Thailand’s Democratic party and more than 120,000 votes were cast worldwide.

On Tuesday Julius Baer, Switzerland’s third-largest bank announced that it had partnered with SEBA Crypto to offer its clients crypto storage and trading services.
This is the second significant partnership that SEBA Crypto has secured as the institution also secured a contract with Switzerland’s Falcon Private Bank in January. The news from Julius Baer follows last week’s announcement that JPMorgan and Mizuho would use platform-specific digital currencies for remittance and payment settlement. Julius Baer Head of Markets Peter Gerlach said that the bank believes in digital assets’ long-term performance and he is sure they will become “a legitimate sustainable asset class of an investor’s profile.” SEBA was launched by two former UBS executives and the duo raised $103 to build the crypto bank. Currently, the startup is attempting to obtain a banking and securities dealer license from Switzerland’s top regulatory body (FINMA). The partnership also shows that in spite of the long-term bearish trend, institutions remain bullish about the long term prospects of the crypto sector.
JP Morgan CEO Jamie Dimon suggested that the company’s new JPM Coin could eventually be used for day to day retail payments by consumers.
This is the second significant partnership that SEBA Crypto has secured as the institution also secured a contract with Switzerland’s Falcon Private Bank in January. The news from Julius Baer follows last week’s announcement that JPMorgan and Mizuho would use platform-specific digital currencies for remittance and payment settlement. Julius Baer Head of Markets Peter Gerlach said that the bank believes in digital assets’ long-term performance and he is sure they will become “a legitimate sustainable asset class of an investor’s profile.” SEBA was launched by two former UBS executives and the duo raised $103 to build the crypto bank. Currently, the startup is attempting to obtain a banking and securities dealer license from Switzerland’s top regulatory body (FINMA). The partnership also shows that in spite of the long-term bearish trend, institutions remain bullish about the long term prospects of the crypto sector.
JP Morgan CEO Jamie Dimon suggested that the company’s new JPM Coin could eventually be used for day to day retail payments by consumers.