Cryptocurrency is a concept that many are familiar with, especially those who play online poker and other kinds of online games.
This currency type is now being introduced in regulated banking by Bankera. This company launched an Initial Coin Offering or ICO on 28th August, Monday. It is already known that cryptocurrency has certain unique features to offer, but this move will certainly bring it at a higher level of recognition along with other reliable forms of currency. Tony G of Bankera is credited with introducing this move. He has also mentioned his special interest in this concept as a Member of European Parliament. Players often have pitted their skills in poker to the financial implications of this currency, but Tony G definitely looks to be taking the concept and the currency and its applicability to new levels.
For the above possibilities to take place Bankera is being proposed to be recognized as a real bank with the banking regulations applicable to it. It will offer products like payment accounts along with debit cards, payment processing options, interbank rates for foreign exchanges and so forth.
Bankera will become the first operator to offer cryptocurrency which will give it a unique advantage. The banking license will probably be issued to it in 2019; the product range and related offerings will take some time to materialize but IBAN accounts and debit cards are already available.
For those who are online poker players, cryptocurrency is a concept they have become familiar with from before. When the Unlawful Internet Gambling Enforcement Act was passed in 2006, banks did not want to dabble in gambling transactions. In many states in US banks do not allow deposits or withdrawals to be done in online poker rooms, even if they are regulated and legal entities. The introduction of cryptocurrency surely makes it easier for the players.