Bitfrost Acquires Crypto Lending Provider Okonto

Bitfrost, a Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company, announced on Thursday that it had acquired OKONTO, a global institutional crypto over-the-counter (OTC) and lending provider. As a result, according to the press release, the firm will offer cryptocurrency and consulting services to its institutional clients.

As part of the acquisition, Anton Chashchin, Co-Founder of OKONTO, joined Bitfrost as Managing Partner to take the lead of its lending and prime services while expanding licensing and operations across Switzerland, the European Union, Singapore, Gibraltar and Asian markets.

“Fintech proves that banking is possible without banks. Today’s banking services lack profitability and flexible scalable solutions, so the industry should recognize that Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term can both improve their businesses and have the necessary level of security and stability. It’s time banks and the crypto industry integrate their resources and evolve together. Bitfrost, together with OKONTO, are going to realize that,” Chashchin commented on the announcement. The fintech firm looks forward to strengthening its targets on offering licensed crypto-related operations as it already started license expansion to cover a broad regulatory coverage.

Obtaining Licenses

Chashchin said that Cyprus, Hong Kong, Gibraltar, the United Kingdom, and Gibraltar are the countries where the company had been in the process of getting licenses. “The acquisition of OKONTO fully aligns with Bitfrost’s main goal of becoming a leading global fintech ecosystem that will provide much-needed consultation for banking and crypto services in order to eliminate trade barriers. OKONTO was chosen as a representative of the crypto world because it met the compliance and security standards of Bitfrost. OKONTO already has an impressive client base of European family offices, so we are delighted to be welcomed into the Bitfrost ecosystem,” the new Bitfrost Managing Partner added.

Recently, in the crypto sphere, Mastercard, the US-based financial services firm, announced that the company is planning to acquire CipherTrace, one of the leading crypto intelligence companies, to enhance its capabilities in the field of digital assets.