With the global adoption of the cryptocurrency technology, it is now evident that the economic giants will soon catch up. When it comes to cryptocurrencies, the European continent has had its reservations. The main concerns that the EU holds is the lack of regulatory infrastructure and compliance.
However, for cryptocurrency industry, the European continent is like a wall and crypto-industry itself is Ivy. No matter how far up the wall gets, cryptocurrency industry is going to cover it entirely.
So far, countries like Spain, Portugal, Malta, Italy, France, Sweden, and Cyprus have adopted the crypto-technology. However, the list just had one more member added to it, which is the country ‘Belarus’.
It has been reported that the largest bank from Belarus ‘Belarusbank’ is planning to launch a cryptocurrency exchange. Belarusbank is currently known to be the largest financial institution in Belarus.
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One of the local press groups ‘Prime Press’ from Belarus released a report on 12th of November, 2020. As per report, the Belarusbank is in the process of launching a rollout regarding the cryptocurrency exchange.
Once rolled out, the users will be able to use their Visa payment cards in order exchange cryptocurrencies.
On top of that, the service will enable the users to perform trade between cryptocurrencies and fiat currencies. For now, the fiat currencies included would be the USD, Euro and the Belarusian Ruble.
Following to the reports, the Belarusbank executives have also commented on the recent turn of events. The executives have stated that their company has been going through transformation for the past two years. The company is changing is orientation from analog system to digital and cryptocurrency is a big leap towards the goal.
For now, only the residents from Russia and Belarus would be able to utilize the new service. However, the Belarusbank has plans of expanding their services to other countries with their collaboration.
As per sources, the Belarusbank has acquired the services of a local cryptocurrency payment operator. The operator is known as ‘Whitebird’ and is said to have partnered with the Belarusbank to execute their plan.
