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OTCbid - Revolut launches business offering in Australia, seeks banking license

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" The crypto-friendly digital bank said the license would hold them to a higher “regulatory standard” that could give consumers confidence.

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Crypto-friendly fintech firm Revolut has launched international payments-focused business accounts for clients in Australia, as it reportedly works to secure a banking license down under.

The London-based firm offers a range of fiat payment services for clients in Europe and Australia. It also offers crypto services, including the buying and selling of a number of crypto assets including Bitcoin 

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. In certain regions, it also provides access to crypto-staking.

Speaking with The Australian on May 17, the CEO of Revolut’s Australian unit, Matt Baxby suggested that the firm’s major aim is to provide an app or platform where “people can manage their entire financial lives in one place,” by obtaining a banking license being a key piece of the puzzle:

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“A bank licence is still very much part of our plans. To be held to that regulatory standard would give our consumers confidence for the long haul, and would enable products that are in demand from our customers. We’re working our way through that, and it’s a key part of our plans overall.” - Read More

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Source: Cointelegraph​

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500K BTC SELLER IN LONDON

-11% Gross, -5% Net, Barclays Bank, London 

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NEW: 200K-500K BTC @ -11% Gross, -5% Net, Barclays Bank, London - Look For Buyer

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(Seller : SBO...TSS-GAIL)

Post: 19.5.23

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• London Seller is selling 200K-500K BTC @ -11% gross, -5% net

• Buyer = 5%

• Buyerside = 3% 

• Sellerside = 3%​​ ​​

• First tranche = TBA

• Second tranche = 10000 BTC

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• PROCEDURE :

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• The Buyer executes this Sale Purchase Agreement and return to the Seller with CIS, POF (proof of fund) and Letter of willing and able to purchase.

• The Seller executes the Sale Purchase Agreement and send it back to buyer.

• The Seller assures the wallets in total are holding more than EUR 500,000 worth of BTC to accommodate the transaction. In the event the seller changes to the new wallet to accommodate the transaction, they must assure the substitute wallet must hold the same or more than the previous wallet capacity.

• The Seller sends an invoice in EUR to the buyer with payment instruction to a Barclays Bank PLC HOLD account.

• The Buyer shall then send below agreed fund for each tranche to appointed payment instructions.

• (a) First tranche funds to purchase TBA BTC

• (b) Second tranche funds to purchase 10,000 BTC

• Payment instructions shall be to XXXXXX an FCA-regulated financial company with a 

• Barclays banking license that will put the funds on an administrative hold until Buyer has received the BTC for each tranche.

• The payment instructions will follow a reference code that the buyer must include in the wire to identify funds to be held at an administrative hold account.

• The payment instructions will follow a reference code that the buyer must include in the wire to identify funds to be held at an administrative hold account.

• Based on the received Payment Funds in clause (4). The Seller shall send BTC to the Buyer’s 

• crypto wallet at buyer chosen wallet address.

• Upon receipt of the BTC, Buyer will conduct its internal forensics to insure the BTC is valid and fully transferable without any limitations, responsible to verification and validation. The forensics conducted by Buyer should take under 30 minutes, depending on the size of the tranche. The buyer must inform the seller on the BTC received each tranche. All tranches will follow this procedure.

• Pursuant to the terms of the Administrative Hold Agreement with, the received Payment Funds will be held by XXXXX and BARCLAYS BANK in trust as FCA regulated institutions, only to be released when the BTC passes the Buyer forensics by the buyer or by the Seller releasing the hash information per tranche to be tracked on www.blockchain.com. 

• The Seller agrees to transfer the amount of BTC’s to the Buyer’s designated transaction wallet based on the swap/tranche schedule attached to this Agreement as Exhibit A, which may adjust depending on current market price. The "market price" of BTC shall be the determined using www.blockchain.com at the time of each transfer of BTC by the Buyer.

• Seller must be prepared to do a minimum of 3 tranches per calendar day in accordance with the BTC purchase schedule, unless otherwise agreed.

• The transaction continues until all BTC has been purchased or this Agreement is otherwise terminated.

• This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Electronic signatures shall be deemed to be original signatures

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• BUYER MANDATE ONLY

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Interested parties should contact :

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• OTCbid@gmail.com

• DM Raymond Chai (on Linkedin)

• Telegram: +1 (786) 632 8577

• T.me/otc_bid

• OTCbid.com