Bancamiga, one of the most dynamic and innovative financial institutions in the Venezuelan banking system, celebrates its 19th anniversary this Thursday. These nearly two decades have been marked by profound processes of change and growth, all guided by the same purpose: to offer the country innovative products and services that meet the needs of Venezuelans.

“Reaching 19 years with 1,221,000 clients is a direct result of a strategy focused on offering services designed to boost the financial growth of children, teenagers, and adults, as well as entrepreneurs, merchants, and business owners, regardless of their location. This strategy achieved $26.963 billion in transaction volume in 2025,” stated José Simón Elarba, Chairman of the Board of Directors of Bancamiga.

Since its inception, Bancamiga has been a tireless advocate for financial inclusion. Its portfolio has set the standard in the market with solutions that are now commonplace for millions, such as Interbank Mobile Payments, foreign currency account management, and the introduction of contactless point-of-sale terminals, according to a statement from the bank.

One of its flagship products, the Bancamiga Mastercard Debit Card, has transformed the consumer experience by allowing payments in both bolivars and foreign currency, while also facilitating access to streaming platforms and international e-commerce purchases. This offering is complemented by Bancamiga Suite, a mobile application that has evolved to offer practical, functional, and, above all, secure operation through tools such as the Virtual Lock and ID Check.

The value of human capital and trust

For José Simón Elarba, the success of these 19 years lies in the synergy between customer trust and the dedication of a team of 1,351 people, 73 % of whom are women, all committed daily to providing solutions that improve the quality of life for society.

Following this strategy, Bancamiga has installed more than 203,000 modern point-of-sale terminals, which, in addition to providing the basic transaction function, allow users to pay and top up phone and TV services, validate lottery tickets, and play the lottery. This has made Bancamiga the second bank in the financial system with the largest presence of terminals in the national market.

These POS terminals, developed in partnership with Soluciones Integrales Tecnológicas (SITCA), are wireless, Global Band compatible, and feature Wi-Fi, a touchscreen, and allow for electronic, secure, and immediate cashback payments to customers.

There are already 51 Bancamiga branches

In a challenging digital environment, security is the cornerstone of Bancamiga’s innovation. After four years of rigorous work, the institution became the first bank in Venezuela to obtain PCI DSS certification version 4.0, the most demanding global standard for payment card data protection.

This certification confirms that Bancamiga’s processes comply with the strictest international security standards, guaranteeing confidentiality and professionalism in the handling of its users’ sensitive data.

As part of its expansion, Bancamiga opened its 51st branch this year in San Felipe, Yaracuy state, adding another physical service point to its network, which also includes nine non-bank correspondents, one affiliated branch (Viva Supercentro Hypermarket), three external branches (Plumrose, Corpoelec Maracaibo, and the José Antonio Páez University in San Diego, Carabobo state), and the Bancamiga Mobile unit, which in almost three years of operation has traveled more than 40,000 kilometers and is a key element in expanding banking services and reaching a wider audience.

In these 19 years, Bancamiga has not only grown as a bank but has also forged a deep bond with Venezuela through its unwavering commitment to sustainable development. Their Corporate Social Responsibility programs have focused on health, education, the environment, and culture, with training as the driving force behind positive and lasting change in our communities. In 2025 alone, Bancamiga supported 4,061 entrepreneurs with training programs that opened doors for them and transformed their dreams into realities.

“But our true engine of growth has been our human talent, a committed team full of passion for Venezuela. That is, without a doubt, the heart behind our achievements, transforming challenges into opportunities,” concluded José Simón Elarba.

With information and reference images provided by Bancamiga Banco Universal

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La entrada Bancamiga: 19 years driving the future of banking in Venezuela apareció primero en Bitfinance.

International bank JPMorgan will allow clients to buy Bitcoin, but will not offer custody services, according to the bank’s CEO, Jamie Dimon.

The CEO remains skeptical of cryptocurrencies, particularly bitcoin, but shows a slight openness, although he still considers the asset worthless.

Earlier this year, he called bitcoin a Ponzi scheme. However, now, thanks to the country’s moderate openness to cryptocurrencies, the bank will offer this new option to its clients.

JPMorgan has been emphatic that it will not directly store cryptocurrencies. “This decision appears designed to minimize the legal and operational risks involved in managing digital assets, especially in light of traditional financial sector regulations.”

M.Pino

Source: diariobitcoin

(Reference image source: IKECHUKWU JULIUS UGWU on Unsplash)

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Mexico is one of the countries where the use of cloud financial services predominates in the banking and fintech sectors. Other sectors, such as cooperatives, remain behind, but adoption continues to rise according to data from the National Banking and Securities Commission (CNBV).

In the last months of 2024, the local entity showed “greater openness to the adoption of the use of the cloud in the financial system, which, together with the investment announcements made by large providers, has led to more institutions using this technology.”

According to the CNBV, as of October, “68% of banks, as well as 56% of electronic payment fund institutions, 71% of collective funding institutions, and 58% of sofipos used cloud services.” Further behind are brokerage firms (47%), cooperatives (10%) and credit unions (0%).

Data provided by the Mexican Institute for Competitiveness, the use of cloud computing services represents a paradigm shift in the way financial institutions store and access information, since it allows “the expansion of the service offering, as well as its coverage. In short, it can be one of the pillars in the advancement of the digitalization of financial services.”

This growth has been strengthened by investments in cloud infrastructure in Mexico by companies such as Amazon Web Services, Microsoft and Google. In this regard, the director of the International Finance Corporation (IFC) of the World Bank, Raúl Nava Salazar, said that “the regulator’s openness to dialogue, a greater understanding of this technology by financial institutions and their need to be more agile in terms of financial services has led to progress in the adoption of these tools.”

Among the main benefits for financial institutions, according to Nava Salazar, is the scalability and use of resources, in addition to the analysis and processing of large volumes of information.

In Mexico, the CNBV establishes the regulations for the use of financial services in the cloud and analyzes the risks, as well as the efficiency and security benefits for users.

M.Pino

Source: eleconomista

(Reference image source: Alex Shuper for Unsplash+)

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La entrada Mexican banks and fintechs are the main users of cloud financial services apareció primero en Bitfinance.

In a sign of openness towards new horizons, Ripple enters the asset custody service for financial institutions.

The crypto platform wants to move towards a broader and more comprehensive offer to safely store its clients’ digital assets.

Without a doubt, it is a way to maintain its participation in the cryptocurrency sector in a solid way, “offering innovative solutions that meet the needs of both companies and consumers.”

It is expected that this strategic move will provide a strong boost to the adoption of XRP, as well as “other cryptocurrencies, by traditional financial institutions.”

Regarding Ripple’s proposal, it is expected to provide a variety of tools and solutions to operate in the cryptocurrency space. Flexibility is also important, as by offering customized custody services, “as shared or fully managed solutions, Ripple could adapt to the diverse needs and risk profiles of financial institutions.”

According to the platform, asset custody has grown rapidly. Ripple Custody, its division in this area, has gained clients by more than 250 % in the last year and operates in seven countries, in key financial institutions such as HSBC and DBS Bank.

M.Pino

Source: cointelegraph

(Reference image source: Austin Distel in Unsplash)

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La entrada Ripple wants to expand its action to the custody of funds apareció primero en Bitfinance.

Public and private companies now have the facility to consult and cancel the collection and transfer service of solid, urban and household waste, through Bancamiga en Línea.

The affiliation process is easy and fast. Go to https://www.bancamiga.com/, Payment of services, select the FOSPUCA image and complete the requested information.

Ease, comfort, security in payment of services

Thus, FOSPUCA joins Movistar, Digitel, Movilnet, Cantv, Corpoelec, Inter, Simple TV and Cobretag as services that can be canceled by Bancamiga en Línea, which also offers clients the possibility of paying municipal taxes, payment of VAT, VAT withholdings, ISLR advances, ISLR, ISLR withholdings, IGTF, the procedures of the Autonomous Registry and Notaries Service (SAREN) and the obligations associated with SUNAGRO.

Through this alliance with FOSPUCA, Bancamiga contributes to facilitating and improving the quality of life of Venezuelans, and reaffirms its interest in offering easy, comfortable and safe solutions for its clients and the public.

With information and reference image provided by Bancamiga

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La entrada FOSPUCA is paid easily and quickly through Bancamiga Online apareció primero en Bitfinance.

Customers of the FTX cryptocurrency platform who were affected by the bankruptcy will begin to receive their money refunded at the end of 2024.

This was recently agreed by the joint official liquidators of FTX Digital at a meeting in the Bahamas.

The bankruptcy of the cryptocurrency platform involves two processes that are developing in parallel, which are “the bankruptcy under Chapter 11, which is settled in a court in Delaware (United States), and the official liquidation process of FTX Digital, FTX’s Bahamas-based subsidiary, due to the “hopelessly mixed” nature of FTX’s accounting.”

To comply with affected clients, both parties will work together so that “no creditor receives less than the value to which they are entitled.”

The decision to pay the funds establishes that the Chapter 11 debtors and the joint official liquidators will make the first provisional refund in late 2024 to creditors with claims that were admitted “and satisfactory documentation.”

Since March 1, creditors began submitting claims on the FTX portal for this purpose. The deadline for creditors to choose one of the two bankruptcy processes and submit their claim is May 15, “although according to the meeting, the deadline is expected to be extended to at least June 2024 based on the latest developments.”

M.Pino

Source: cripto247

(Reference image source: Vladimir Solomianyi in Unsplash)

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La entrada Refund of money to FTX clients will begin at the end of 2024 apareció primero en Bitfinance.

Trading of cryptocurrency platforms such as Deribit, Coinbase and Greeks.live reached a record level in February this year, according to recent reports.

The aforementioned cryptocurrency exchange platforms gave record transaction referrals in the month that just ended. Deribit, in fact, “experienced multiple trading records on its platform, with cryptocurrency options and futures trading seeing open interest surpass an all-time high of $29 billion.”

There are records of the assets of the clients of the platform at a maximum of USD 4 billion. For its part, “the company’s 24-hour volume of operations reached 12.4 billion dollars, another historical high.”

Similarly, Coinbase Institutional announced on its X account that its futures exchange in the United States reached a record amount on February 29, which it defined as “the second-best day in its history, with a notional volume traded of approximately $380 million in bitcoin and ether contracts.”

“Coinbase Derivatives is committed to fostering a fair, transparent, trustworthy and efficient market for a diverse set of participants,” they said.

The Greeks.live platform recorded a record daily volume through its platform, reaching USD 620 million in options volume.

M.Pino

Source: cripto247

(Reference image source: Kanchanara at Unsplash)

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La entrada Earnings from cryptocurrency exchanges reached record levels in February apareció primero en Bitfinance.

Coinbase, the US exchange with global reach, announced that it will apply new fees to institutional clients who exchange dollars for the stablecoin USD Coin (USDC), provided they are dealing with large-volume transactions.

The Coinbase team announced this in a press release, quoted by The Block, where they pointed out that institutional clients who change between 75 – 150 million will have to pay a fee of 1 %; 0.15 % for those who make transactions between 150 – 500 million dollars; and the commission will be 0.2 % if they exceed 500 million.

However, he also indicated that there will be exceptions for high-end institutional clients. For example, Coinbase Prime users who have more than $500 million in assets on the platform, or whose average trades exceed $100 million in both fiat and USDC for 30 days, will not pay commissions.

The other case is for clients of the liquidity program of their main exchange, as long as they are in Level 1 or Level 2, they will be free of commissions as long as they are chosen from the group of beneficiaries.

K. Tovar

Source: Diariobitcoin

(Reference image source: rc.xyz NFT gallery, Unsplash)

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La entrada Coinbase will charge fees on large USDC changes apareció primero en Bitfinance.

Swiss cantonal bank St. Galler Kantonalbank (SGKB) announced the launch of its bitcoin and ether trading and custody service in strategic partnership with SEBA Bank.

The SGKB is the fifth-largest cantonal bank in the European country. The entity indicated in a statement that it will offer this service to a group of select clients.

For its part, the strategic partner, SEBA Bank, is a “digital asset specialist regulated by the Swiss Financial Market Supervisory Authority (FINMA), for the new offer of cryptocurrency services.”

Although the announcement indicates that they will market and provide custody services for the two main digital currencies, bitcoin and ether, both companies hope to expand the offer with more cryptocurrencies, depending on the demand of their client portfolio.

In this regard, Falk Kohlmann, director of market services at SGKB, indicated: “Thanks to our cooperation with SEBA Bank, we have implemented a simple initial configuration, which allows us to learn and grow according to the needs of our clients.”

The growing customer demand in the Swiss banking sector has allowed this project to crystallize, to satisfy both institutional and retail users.

Other cantonal banks in Switzerland already offer cryptocurrency services. The Luzerner Kantonalbank, Lucerne’s dominant cantonal entity, launched its crypto service in August. Likewise, at the end of last October, “Sygnum, a regulated business-to-business cryptocurrency specialist, partnered with Zuger Kantonalbank for a similar mobile-based offering.”

Without a doubt, the cryptocurrency market in Switzerland is experiencing a positive opening that is likely to be maintained over time.

M.Pino

Source: diariobitcoin

(Reference image source: Henrique Ferreira, Unsplash)

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La entrada Swiss bank offers custody of bitcoin and ether apareció primero en Bitfinance.

US prosecutors asked the court presiding over Sam Bankman-Fried’s trial to prohibit his legal team from presenting any arguments related to the possible recovery of FTX clients’ assets invested in Anthropic.

In April 2022, Bankman-Fried invested $500 million in the artificial intelligence startup. However, the US government is preparing to present evidence alleging that said investment was made with misappropriated funds from FTX customer deposits.

Recently, Anthropic has been in the spotlight as it seeks new investment funds, courting giants like Amazon and Google, which could lead to an estimated valuation of between $20 billion and $30 billion.

US prosecutors argue that recent reports about Anthropic’s high valuation could increase the value of Bankman-Fried’s investment, potentially making it easier to recover funds for FTX clients and other creditors in the event of a potential FTX bankruptcy.

In a letter submitted to Judge Lewis Kaplan, the US government and Bankman-Fried’s legal teams reached agreements on various issues related to the questioning of witnesses.

Bankman-Fried’s legal team intends to present evidence on the current value of its $500 million investment in Anthropic in 2022.

Prosecutors maintain that this evidence seeks to support an argument that the court found “inadmissible”: “Such evidence would therefore be totally irrelevant and would present a substantial risk of unfair prejudice, confusion of the issues, misleading the jury, unnecessary delays and loss of time.”

The government argues that the allegations against Bankman-Fried center on wire fraud, using FTX customer deposits for investments and miscellaneous expenses. According to prosecutors, any mention of profitable investments is ultimately immaterial and irrelevant to the charges the jury is considering.

The government also states that while it plans to present evidence of Bankman-Fried’s alleged misappropriation of customer deposits, which resulted in significant losses on FTX’s balance sheet, it does not intend to offer evidence related to the losses. ends of the victims once the FTX bankruptcy process is concluded.

K. Tovar

Source: Cointelegraph

(Reference image source: Unsplash+)

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La entrada US prosecutors requested restrictions on Sam Bankman-Fried trial apareció primero en Bitfinance.