Bank of Mangolia will start crypto services

The oldest and largest bank of Mangolia will start offering crypto services including custody, remittance, crypto deposits, crypto loans, and crypto-asset management reported on 30 October 2020.

The country Mangolia continues to make crypto-friendly steps for the adoption of crypto in the nation.

Hexland is a blockchain company that founded by the former developers of Samsung, and a white label tech company Delio havagreed to start working with the Ulaanbaatar-based Trade & Development Bank of Mongolia, or TDB Bank.

The bank of Mangolia is one of the oldest bank of Mongolia having approx 50 branches throughout the nation and it also ranked at the second position out of 17 Mongolian banks in comparison of their total assets.

Basically, TDB Bank works usually with industrial clients where the portfolio of this bank includes over 400 Mongolian companies which are offering them services including project loans, trade loans, financial consulting, among others.

On the other hand, Hexland usually provides services including blockchain smart contract development and verification, and also provides the wallet development as well, among other solutions.

Recently, Iran’s central bank will now legally hold all Bitcoin used for imports/exports allowing them to bypass the USD.