Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Puerto Rico Witnesses New Crypto Bank Receive First Client Deposit

Puerto Rico Witnesses New Crypto Bank Receive First Client Deposit

Kelly Cromley by Kelly Cromley
Apr 2, 2019
in Market News, News
Reading Time: 1 min read
0

San Juan Mercantile Exchange (SJMX), popular Puerto Rico-based cryptocurrency trading platform, has introduced banking operations through a new offshoot firm.

SJMX, which operates as a membership oriented exchange for cryptocurrency asset traders, is looking at the possibility of widening its range services for institutional investors.

The unique venture, named San Juan Mercantile Bank & Trust International (SJMBT), was awarded a banking license from Puerto Rican financial regulators in March.

Following the acceptance of first deposit, the bank has signaled its readiness to start serving institutional clients with an overall package of services that suit their trading requirements.

Commenting on the service, Nick Varelakis, SJMBT president and chief operating officer said

“Institutional market participants in the digital asset space now have access to a licensed, fully regulated and operational banking partner that provides a secure environment for the matching and settlement of digital asset trades.”

The news has arrived at a time when institutional services related to cryptocurrencies are made available worldwide. In Hong Kong, BC Group has also launched insured crypto custody solution, the first of its kind in Asia.

In the US, institutional entry in the cryptocurrency market continues to be delayed due to uncertainty in regulations and unanticipated delays in crypto services such as the launch of Bakkt platform. The venture, initially planned for launch in November, has seen several setbacks.

Previous Post

Major Swiss Stock Exchange SIX Introduces XRP Exchange Traded Product

Next Post

Smart Dubai Approves Blockchain Platform Built By Major Local Telecoms Operator

Related Posts

coinbase partners with perplexity ai

Coinbase Taps Perplexity AI to Deliver Smart Crypto Insights

by Kelly Cromley
Jul 14, 2025
0

Coinbase has entered into a strategic collaboration with Perplexity AI to provide users with real-time cryptocurrency market data through artificial...

Hedera

Hedera Moves Closer to AI Mainstream with Intel and NVIDIA Support

by Kelly Cromley
Jul 14, 2025
0

Hedera, a decentralized public blockchain, appears to be stepping into the spotlight as a key enabler of artificial intelligence infrastructure,...

Kenya

Kenya Launches $KDT Token on Solana Blockchain to Drive Digital Inclusion

by Kelly Cromley
Jul 14, 2025
0

Kenya has taken a notable step toward embracing digital innovation through the public endorsement of a private sector-led initiative to...

imagen network

Imagen Integrates XRP for Faster Web3 Social Transactions

by Kelly Cromley
Jul 13, 2025
0

Imagen Network, a decentralized social platform driven by artificial intelligence, has introduced XRP-based liquidity modules across its multichain infrastructure. This...

endless partners with rei network

Endless and REI Network Join Forces to Simplify Web3 Development

by Kelly Cromley
Jul 13, 2025
0

Endless Protocol has announced a strategic partnership with REI Network, a lightweight blockchain infrastructure developed by GXChain Global. The collaboration...

Injective Blockchain Faces Backlash as INJS Minting Comes to Abrupt Halt

Injective Forms Power Council to Bridge Web2 and Web3

by Kelly Cromley
Jul 13, 2025
0

Injective has unveiled the Injective Council, a newly established strategic advisory group comprising senior representatives from major Fortune 500 firms...

Next Post
Smart Dubai Approves Blockchain Platform Built By Major Local Telecoms Operator

Smart Dubai Approves Blockchain Platform Built By Major Local Telecoms Operator

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025

Recent News

coinbase partners with perplexity ai
Market News

Coinbase Taps Perplexity AI to Deliver Smart Crypto Insights

by Kelly Cromley
Jul 14, 2025
Hedera
Market News

Hedera Moves Closer to AI Mainstream with Intel and NVIDIA Support

by Kelly Cromley
Jul 14, 2025
Kenya
Market News

Kenya Launches $KDT Token on Solana Blockchain to Drive Digital Inclusion

by Kelly Cromley
Jul 14, 2025
imagen network
Market News

Imagen Integrates XRP for Faster Web3 Social Transactions

by Kelly Cromley
Jul 13, 2025
endless partners with rei network
Market News

Endless and REI Network Join Forces to Simplify Web3 Development

by Kelly Cromley
Jul 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree