Bitcoin IRA, a digital IRA that allows users to buy, sell and exchange cryptocurrencies for their retirement accounts, has now invested over $ 100 million in its new program, IRA Earn, according to a Media Release.
The new program offers interest rates of up to 6 percent per year on cash, 2.7 percent on Ethereum and 2 percent on Bitcoin, the statement said.
Retirement account holders will now be able to use the program to increase the annual return of their traditional or Roth IRAs and / or 401 (k), the release said. Users with $ 100,000 could then earn $ 30,000 at the IRA Earn in about five years, for example.
Highlights of the program include high interest rates, low minimums, monthly payments and a lack of lockout periods, the latter meaning that users can earn interest without long-term liabilities, the statement said.
In the meantime, Robin Hood, a popular brokerage application, wants to strengthen its crypto team this year, CoinDesk reported.
Executive Director Vlad TenevSpeaking about video issues with customers, he said Robinhood would make a “huge investment” and employ many people in the field, the report said.
As for why, he pointed to the jump in demand witnessed by Robinhood, with 6 million new customers now trading crypto since the beginning of this year. Tenev said the platform’s focus currently is on ensuring the system is stable enough to withstand growth, the report said.
And finally, a Canadian communications provider Sky Global he is accused of helping criminal organizations launder millions of dollars in cryptocurrencies via encrypted phones, CoinDesk she reported, citing March 12 indictment.
The company sold encryption devices to criminal organizations to facilitate activities such as drug trafficking, according to the indictment, according to CoinDesk. In addition, the company reportedly helped these organizations redirect illegal funds into bitcoin and other cryptocurrencies. The indictment also alleged that Sky Global obstructed investigations by remotely erasing evidence when the devices in question were seized by police.
PYMNTS STUDY: A NEW APPROACH TO MODERNIZING PAYMENTS IN BANKING – 2021
About the study: A new approach to modernizing payments in banking, the PYMNTS collaboration with Red Hat and Temenos, is a research-based report examining trends in the transformation of retail and how these shifts create new challenges and opportunities for banks. The report aims to offer banks a roadmap that will help them gain the technical capacity to support digital payments in all their forms.