Ukrainian Monobank adopts bitcoin

[Lens1000]

The Ukrainian bank , monobak planned to integrate bitcoin services on its mobile bank app to allow its customers buy and sell bitcoin. The integration is expected to take effect this month and it will increase bitcoin adoption and usage in the in Ukraine

However, Gorokhovsky , the co-founder of monobank didn’t share much information on customers’ ability to withdraw their BTC once the integration is deployed; it remains unclear whether those who wish to take control of their funds would be able to do so. If not, the bitcoin purchased through Monobank would effectively function as an IOU –– the e-bank would “owe” the buyer that amount of BTC and prevent the customer from enjoying true financial sovereignty. On the other hand, if Monobank does end up implementing bitcoin withdrawal services, then the e-bank might not only deepen adoption but also help spread some of the fundamental principles on which the best form of money was built.

Overtime , we have seen more countries using different strategies to absorb bitcoin into its system. Banks are gradually planning to integrate bitcoin services and many bitcoin ATMS are springing up as well

On a last note, the finacial regulatory body has not given the bank a go ahead on the said project, but it will increase inclusiveness in the cryptocurrency space. Banks adoption of bitcoin will make it a lot easier to fund the cryptocurrency wallet.

How do you see this?

 

[Sherman198]

This is another new development in the cryptocurrency world. All these new development will only contribute more to the growth of Bitcoin and price surge, in the coming Bull run. I definitely know that the existence of cryptocurrencies is unstoppable. Countries can only try their best but I don't see them succeed. To the moon!

 

[Chibson]

Every day we hear of a lot of people adopting bitcoin and cryptocurrency generally. I think this is a welcome development and also a boost to the cryptocurrency world in Ukraine. I'm also waiting for one day that financial institutions in my country will adopt the use of Bitcoin and other cryptocurrencies. cryptocurrency has really come to stay and I don't think there is anything that can stop it.

 

[sincerem]

That's a welcome development I've heard news of this kind, but different bank who adopted BTC as a means of payment in its banking institution. That is what my country's bank where doing before the sudden ban, that halted their activities, reverting citizens to using the P2P method when it comes buying and selling Cryptocurrency.

 

[Josemendez]

The news will now give the cryptocurrency lovers in Ukraine the confidence they need in the world of cryptocurrency. The banks also have taken a bold step and this will surely attract customers to them. People will want to buy and save their bitcoin with the bank. The government may have to tax people as well