A few days ago, the media reported a thousand frozen accounts of Chinese citizens by the Spanish BBVA bank. In today's world, offshore banking is widely used by people around the world and is a good alternative if a man does not want to rely only on the situation in the resident country. Many people use offshore accounts to reduce political risk in their own country. The size of the offshore market is around 32 trillion dollars.
For some states, where the government has applied restrictions on the outflow of capital from the country, such as China, Venezuela, Iran, and many others, offshore banking has become a partial solution. The cryptocurrencies have made the first step of the process easier, how to send capital from the resident land. However, at present, finding a crypto friendly bank is not easy, so even if a resident of a country that uses a restriction successfully sent funds abroad, it still does not mean he has access to them anytime soon if the bank marked these transfers as suspicious.
In recent years, we have witnessed account blocking by sending larger amounts across the globe once the banks have discovered that the income has come from cryptocurrencies. Aidos Kuneen creates a bridge and provides solutions for both traditional offshore clientele and crypto investors. Savings accounts denominated in US dollars and euros will offer a generous 10% interest rate, which is achievable by demand for high-interest loans in Africa. Another important milestone is the ETF. The ADK ETF will be the first legal tender instrument related to cryptocurrencies, so no bank will have a reason to mark the transfers of funds from ETF as a suspect and to block the account.
In recent days, public interest in ADK has increased, even in mainstream media, and people are eager for online banking and the ETF. ADK is tradable on 8 exchanges; almost whole traded volumes comes from the Aidos Market, which was created after the CryptoDao event, where ADK was initially listed - This crypto exchange managed an exit scam in the summer of 2017. Aidos Market will also be a secondary market for trading the underlying asset of ADK ETF. Daily volumes are currently between 40-80 BTC, and increasing interest is also reflected in increased trading activity.
This article was originally published on Arbolet.net, the website about cryptocurrencies and new opportunities in this space.
Disclaimer. This article is paid and provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services mentioned in this article.