Bitcoin Latinum Expands Mass Adoption with Vast Bank Partnership
- Bitcoins , Cryptocurrencies
- 15.11.2021 01:00 pm
Bitcoin Latinum, the secure, next-generation, insured, asset-backed cryptocurrency announces the commencement of a strategic partnership with Vast Bank, a trusted family-owned financial institution serving customers since 1982. The partnership will focus on opportunities for collaboration, deal flow, and integration among Vast Bank, Bitcoin Latinum, and Monsoon Blockchain Corporation (Bitcoin Latinum’s lead developer) all through the support of Bitcoin Latinum as a custodial currency.
“We are very excited to announce our latest groundbreaking partnership with the industry leading Vast Bank,” said Monsoon Blockchain Corporation CEO, Dr. Donald Basile. “Their efforts to bring the promise of blockchain technologies to the banking system will allow consumers access to a greener, faster, and more secure version of Bitcoin.”
Standing at the forefront of cryptocurrency integration, customers of Vast Bank can buy and sell cryptocurrencies from any location within the U.S. using the Vast Bank Crypto Banking mobile app. Earlier this year, Vast Bank became the first nationally chartered bank in the U.S. to offer customers the capability to buy and sell cryptocurrencies alongside a traditional checking account, providing customers with the same convenient, personalized service they have already come to expect from a leading financial institution.
Vast Bank aims to set a new standard for democratizing access to cryptocurrency by enabling customers to simultaneously manage both their bank and crypto accounts side-by-side in a high-tech and secure user interface, powered by world-class software. The Vast Bank Crypto Banking service is powered by Vast’s integrations with Coinbase and SAP.
“Throughout our nearly 40-year history, our commitment to customer service has been at the heart of everything we do. When our customers asked us why they could not securely buy Bitcoin and other cryptocurrencies using their bank accounts, we were driven to develop an end-to-end solution enabling them to do so on a platform they know they can trust,” said Brad Scrivner, CEO of Vast Bank. “We are glad to explore the partnership with Bitcoin Latinum to expand the selection of digital assets that our customers can custody.”
Bitcoin Latinum currently trades publicly on DigiFinex and Hotbit exchanges, under the ticker LTNM. Monsoon Blockchain Corporation has announced plans for Bitcoin Latinum to officially list on ten top-tier public exchanges by the end of 2021. In addition to DigiFinex and Hotbit, the exchanges are: HitBTC (the fifth largest exchange by volume at $4 billion), FMFW (formerly Bitcoin.com and operating with $3.3 billion in daily trading volume), Changelly ($2.71 billion in daily volume), Bitmart ($1.6 billion in daily volume), AAX Exchange ($1.3 billion in daily volume), LBank Exchange($1.35 billion in daily volume), Changelly Pro, and XT.com.
Unlike other crypto assets, LTNM is insured, and backed by real-world and digital assets. Its asset backing is held in a fund model, so that base asset value increases over time. It accelerates this asset-backed fund growth by depositing 80% of the transaction fee back into the asset fund that backs the currency. Thus, the more Bitcoin Latinum is adopted, the faster its asset funds grow, creating a self-inflating currency. The listing on DigiFinex and Hotbit, and the strategic partnership with Vast Bank, highlight Bitcoin Latinum Foundation’s commitment to supporting the growth of a sustainable crypto ecosystem.
Bitcoin Latinum was developed with a highly scalable network that will initially support up to 10,000 transactions per second and millions of transactions per day to facilitate retail transactions. With its Proof of Stake (PoS) consensus method, Bitcoin Latinum ensures the network facilitates more transactions per minute at lower transaction fees. Utilizing an efficient consensus mechanism, Bitcoin Latinum provides a much better on-chain payment network compared to Bitcoin, with an average transaction confirmation in three to five seconds.
LTNM is one of the greenest cryptocurrencies in existence, and recently joined the Crypto Climate Accord. Utilizing its advanced Proof of Stake (PoS) mechanism, LTNM holders will earn rewards for holding their coins as collateral to stake on the Bitcoin Latinum network. This leads to less electricity consumption. LTNM reduces the energy consumption to only 0.00015 kWh per transaction.