The Daily: Crypto Startups Licensed in Poland, Bank Trials Cryptocurrency Wallet

In this edition of The Daily, the Polish financial watchdog has authorized two crypto companies to operate as payment service providers and a bank in the Netherlands now offers crypto storage to its clients. Also, recently leaked images show the long-awaited Samsung S10 may indeed come with a cryptocurrency wallet.

Also read: Huobi Downsizes, New OTC Desk to Launch in US

Poland Grants Licenses to Coinquista and Bitclude

The Polish Financial Supervision Authority, Komisja Nadzoru Finansowego (KNF), has licensed two crypto startups as payment providers. The companies, Coinquista and Bitclude, offer a number of services related to cryptocurrency such as digital asset exchange platforms and crypto wallets.

Although the license does not explicitly mention these products, the regulator explained that the two startups will be able to provide a variety of payment services and solutions for customers in Poland, Finance Magnates reported. That includes accepting cash deposits and withdrawals.

Furthermore, Coinquista and Bitclude will be authorized to process payment transactions, transfer funds, and execute direct debits. Under their licenses, the crypto companies will also be allowed to use payment cards and issue payment instruments.

According to Coinquista CEO Ireneusz Pukin, KNF‘s decision to register his company as a payment service provider proves the exchange can run legal business in Poland. Pukin also believes the move is an indication that the financial watchdog is not against activities such as those Coinquista is associated with.

In the past year, authorities in Poland took steps to regulate certain aspects of the crypto space without banning cryptocurrencies and related operations. In November, amendments to the country’s income tax regulations were introduced to incorporate the taxation of profits from crypto transactions.

(UPDATED) ABN Amro Mulling Crypto Storage Service

ABN Amro, a bank based in the Netherlands, has introduced storage infrastructure for digital assets, Dutch media and crypto news outlets reported, quoting social media posts including comments from the bank’s official Twitter account. According to the initial reports, the financial institution had 500 clients involved in the experimental service, still in testing mode.

A promotional photo showing what looks like a mobile wallet app called ‘Wallie’ was shared on Twitter with the author of the post asking in Dutch “Is this true?” to which ABN Amro replied “Hi! Yes! Did you receive this message? We are currently doing an experiment with 500 customers. :)”. The slogan on the pic read “Manage your bitcoins easily and reliably” and had a “Let’s go!” button below it.

Quoting “representatives of the bank,” Forklog reported that its platform ensures secure storage for the private keys of users’ crypto wallets. ABN Amro is said to provide guarantees for digital assets worth up to €6,000 (~$6,800) that are kept with the bank. The crypto storage solution was supposedly integrated with ABN Amro’s online banking interface used by its clients for regular transactions.

Later, a spokesperson for the bank was quoted by the Dutch online edition AD as saying: “We now ask customers what they think of such a thing. That’s all. There is no Wallie, no concrete wallet. Only an investigation.”

The news outlet also posted another comment from ABN Amro’s employees maintaining the bank’s Twitter account. Loosely translated, the post read: “ABN Amro notices that more and more customers are investing in this [in crypto]. Research shows that some of these customers are concerned about the safety of storage, they hear a lot about hacks and exchanges and the loss of codes. We want to be a trusted partner in this.”

* This section of The Daily has been updated.

Leaked Images Show Galaxy S10 Has a Crypto Wallet

Samsung’s long-awaited anniversary edition phone, the Galaxy S10, may indeed feature a cryptocurrency wallet. The extra has been the subject of much debate and speculation but newly leaked images on social media appear to confirm this functionality has been added.

The flagship mobile device of the Korean electronics giant is scheduled to be presented to the public in February. However, it caught the attention of crypto enthusiasts long before its expected launch.

Rumors of the possible crypto wallet integration surfaced last year but were reportedly dismissed by Samsung. Later, news came out that the company filed to register a trademark in the United Kingdom that suggests it’s considering offering such a feature.

As seen in the leaked images, the slick new smartphone has an option in its menu called “Samsung Blockchain Keystore” that offers “a secure and convenient place for your cryptocurrency.” It allows users to either import an existing wallet or create a new one.

What are your thoughts on today’s news tidbits? Tell us in the comments section.

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