Migom Global Corp. (OTC PINK:MGOM), via Migom Bank®, demonstrates further headway in facilitating digital asset custody by adding USDT (Tether) to its lineup of cryptocurrency accounts at Migom Bank®
NEW YORK, NY / ACCESSWIRE / April 26, 2021 / The nascent cryptocurrency markets have become renowned for volatility, despite growing institutional adoption and signs of wider acceptance that virtual currencies will play an integral role in the future of the world's financial industry. Amidst the adoption lifecycle in the emerging theatre of decentralized finance, volatility amongst the speculative cryptocurrencies can undermine their utility in the short term as a means of value exchange. Due to this and other factors, there is high demand for ‘stable coins', which are pegged to another asset but still retain the inherent qualities of cryptocurrencies; transparency, low transactions costs and peer to peer remittance for everyday transactions. USDT is a very stable coins as it backed by holdings in US dollars.
Georgi Parrik, the CEO of the Company reflects on the rise of USDT "In 2021 alone we have seen the volume of Tether in the market double, this in itself is not surprising as the wider market has expanded at almost the same rate but it is notable that demand for stable coins remains high and Tether has seen record inflows." He explores the reasoning further "For new and old hands alike, Tether is a cost-effective haven in the short, medium or long term for cryptocurrency adopters who do not wish to directly exchange to a fiat currency from, for example Bitcoin. Additionally, Tether offers benefits for those who wish to take advantage of the decentralized model but retain a secure fiat bridge to traditional finance, as such, supporting custody of USDT is an attractive offering for Migom Bank customers."
The offering of USDT in the lineup of convertible digital currencies comes shortly after Migom Bank® added Ethereum to its lineup of convertible digital currencies to complement the first Bitcoin account, now over a year old. For customers of Migom Bank®, underpinned by utilisation of the ‘Cloud' as a platform for global financial service provision, customers can seamlessly exchange fiat currency into Virtual currencies as a hedge against inflation or simply to diversify their holdings, but by banking with Migom Bank®, our customers can do this safely, securely in one interface, that is regulated, with a single source of compliance.
About Migom Global Corp
Migom Global Corp. is a US publicly traded company (OTC PINK:MGOM) building synergistic ventures in international banking, securities brokerage, electronic money distribution as well as digital assets origination and market making. The Company is developing the network of affiliated businesses in several countries, which may provide a seamless integration between the traditional regulated banking and financial services and the innovative emerging fintech solutions, benefiting consumers and businesses worldwide. Committed to solving the problem of under-banked businesses and individuals worldwide, the Company's wholly owned subsidiary, Migom Bank, is a full-service global bank for the digital age that is available to customers across a variety of industries and regions.
About Migom Bank
Migom Bank® is a global neobank focused on the emerging markets offering a full suite of e-banking services tailored for the needs of small-to-medium-sized businesses and entrepreneurs, including online account opening and operating of corporate and individual bank accounts with full online access to account management and detailed reporting, international transfers in multiple currencies, issuance of debit cards, certificates of deposit, savings accounts and securities investment services in major global markets. In addition Migom Bank® offers its qualified account holders one of a kind crypto-to-fiat and fiat-to-crypto instant exchange, cryptocurrency block OTC trading services, including secure custody and instant-execution, with virtually unlimited liquidity, best global spot prices and immediate transferability of funds or crypto assets. Migom Bank® account holders can safely access all of the bank's services using their mobile app or account dashboard online. Migom Bank® is fully licensed to provide retail depository and inter-banking services, full suite of cryptocurrency-related services, securities dealing and investment banking services, featuring deal-oriented compliance and custom-tailored flexible solutions to help its versatile international clientele. The regulatory information enumerating multiple services provided by the bank is published on its website. For more information, please, visit http://migom.com.
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SOURCE: Migom Global Corp