[2016-08-03]Swedish Banking Major SEB Invests to Co-own Coinify

[BTCBinary]

Swedish Banking Major SEB Invests to Co-own Coinify

Coinify, the Bitcoin company based out of Denmark has a new investor on board. The unusual investment is made by a major mainstream banking institution Skandinaviska Enskilda Banken, better known as SEB. The Swedish banking major now owns a part of Coinify, the Bitcoin-based payment solution company. The change in ownership pattern is available for verification on the Danish corporate database biq.dk. According to reports, the changes in the ownership also includes the addition of new board members from SEB...

http://www.newsbtc.com/2016/08/03/swedish-banking-major-seb-invests-co-coinify/

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[yayayo]

The banks are desperate. They throw investment capital around in the hope to profit from Bitcoin and "blockchain technology" that is threatening their core business. However truth is, that there is no profitable place for banks in a Bitcoin world.

Bitcoin payment providers will not exist forever. These are transitory services that only exist as long as there are Bitcoin-fiat conversions involved. If direct Bitcoin payments become the norm, nobody will need these services any more. They just add delays and costs to the payment process.

The SEB is wasting money here. It would be much more intelligent to buy Bitcoin directly with all the fiat trash money they have.

ya.ya.yo!