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Bitcoin Daily: Bitcoin IRA Debuts Mobile App; Amber Group Now Valued At $100 Billion; Banco de Portugal Grants Crypto Licenses

Bitcoin Daily: Bitcoin IRA Debuts Mobile App; Amber Group Now Valued At $100 Billion; Banco de Portugal Grants Crypto Licenses

June 22, 2021 at 01:11AM
by PYMNTS

Cryptocurrency platform Bitcoin IRA is making its mobile app public, according to a press release.

This will be the first retirement app of its kind for crypto, the release stated. It will allow for buying, selling and swapping crypto assets inside self-directed retirement accounts.

Users will be able to invest in crypto 24/7, watch how their portfolios develop over time, earn interest and use tools like custom price alerts, real-time live prices and more, according to the release.

Cryptocurrency retirement accounts have been becoming more popular as of late, and the company’s mission is to “help Americans retire early” with easy mobile app use for crypto investments.

In other news, Amber Group, a crypto firm, is now valued at $1 billion after it raised $100 million from investors, Silicon Republic reported.

The round was led by investment bank China Renaissance and was also supported by Tiger Global Management, Coinbase Ventures and Blockchain.com, the report stated.

Amber Group specializes in algorithmic trading and high-frequency trading. The company has also recently rolled out a mobile app to help retail investors along with institutional ones, according to the report.

“We’ve had record months over the past quarter across both client flow and on-exchange market-making volumes,” CEO Michael Wu said in a statement, per the report.

Meanwhile, Banco de Portugal is now giving out crypto operating licenses, according to a press release.

There are several new activities that can be licensed, including exchange services between crypto and fiat, transfer services for virtual assets, and safekeeping or administration of virtual assets, the release stated.

And several types of people can operate, including people or companies allowed by law to use crypto and other people who are obligated to declare their crypto with the government, according to the release. Those who are treated as legal within domiciles or establishment in Portugal will also be allowed.