Established in 2011, Blockchain.com announced on Thursday, October 6, that it opened the availability of its custody and brokerage products to Peace Garden State, with the goal of providing access and employment to cryptocurrency in the Midwest.
In recent weeks, Blockchain.com launched in Florida, Oklahoma, and Iowa, in addition to deployments in Alaska, Delaware, Illinois, Oregon, New Hampshire, and New Mexico over the past year. Currently active in about 30 states, the company said it intends to open its doors in every state in the country through individual license approvals.
According to its website, Blockchain.com is home to 77 million digital wallets and has processed a third of all transactions on the Bitcoin network. With a market capitalization of $ 1 billion, Bitcoin is the most valuable cryptocurrency in the world according to Coinbase. Additionally, London and Miami-based Blockchain.com has a total of 31 million verified users in 200 countries.
The North Dakota deployment is only a small part of the company’s “aggressive push” to expand into the Midwest, Brooks Wallace, communications manager for Blockchain.com, told the Forum. “At the rate we’re going, we should see a lot of traction even in the coming months,” he said of the expansion efforts. “While the United States is only 20% of our business, it is obviously a huge market and a great focus for us.
Wallace said that Blockchain.com quickly identified North Dakota as a top expansion priority due to the increasing adoption of the technology by the state. The launch of Blockchain.com is the latest in a series of developments related to cryptocurrencies and blockchain, the peer-to-peer digital ledger that makes cryptocurrencies possible.
In 2020, Mandan’s representative, Nathan Toman, offered to conduct a study to examine the possible uses of blockchain in state government, even going as far as suggesting that the state create its own cryptocurrency token.
This year, Toman and a group of Republican lawmakers backed a bill to create a “cryptocurrency sandbox,” which would have provided cryptocurrency developers with an established environment to test their products. Several of the early innovators, such as Arizona and Wyoming, launched similar programs, although the North Dakota version was rejected in the House of Representatives with a vote of 56 no to 36 yes.
Other notable cryptocurrency developments in North Dakota include the city of Williston, which has become one of the few municipalities in the United States to accept cryptocurrency for bill payment, and Dallas-based Applied Blockchain innovates a facility. cryptocurrency miner in Jamestown.
“States that are very advanced in crypto and already show an appetite for innovation like North Dakota rank high on our priority list,” Wallace said. “Whenever we see states that are already excited to adopt crypto like North Dakota, we are even more excited to get their residents involved. “
This is the same reason Blockchain.com caused a “big stir” in Florida, he added, another state that passed legislation to create a crypto sandbox in 2020. The city of Miami’s cryptocurrency was particularly well received, he said. Wallace, implementing a “MiamiCoin” mining program that generated $ 7.1 million for the city, The Washington Post reported. “Who knows? Said Wallace.” Maybe there will be a Fargo room soon. “”
Blockchain.com already had thousands of custodial wallet users in North Dakota, Wallace noted, meaning those users could store or trade cryptocurrencies using the platform. The recently obtained license for the money transmitter Blockchain.com means that state users can now buy and sell cryptocurrencies as well. “We are already seeing really impressive trading volume and we are delighted to see it continue to increase,” he said. “We really hope that this launch will encourage thousands more to use our trading platform and really gain financial freedom. “
Additionally, as a ‘remote first’ business, North Dakota residents can also apply for jobs with Blockchain.com in areas such as compliance, customer service, data science, engineering, finance, legal, and marketing. “We would be delighted to encourage all crypto enthusiasts in North Dakota to apply for our openings. The type of people we are looking for is anyone who shares a passion for cryptocurrencies and who is really building the future of finance, ”said Wallace.
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