In the dynamic cryptocurrency market, where trends and predictions play a crucial role in shaping investor behavior, a top analyst recently highlighted a new, promising crypto asset, signaling optimism for its future prospects.
This development comes as Pepe Coin (PEPE) and Shiba Inu (SHIB), two cryptocurrencies that have gained substantial attention and growth, gear up for further advancements, keeping the crypto community on the edge of their seats with anticipation.
Pepe Coin, drawing its name and branding from the widely recognized internet meme Pepe the Frog, has quickly become a favorite among both meme lovers and crypto investors, thanks to its meme-driven appeal and community-centric ethos.
This approach has led to a notable increase in its value, reflecting the growing demand for meme-based cryptocurrencies.
Shiba Inu, on the other hand, inspired by Dogecoin’s success, has carved out its niche in the market with its meme-infused identity and a decentralized ecosystem, garnering a dedicated following and significant market buzz.
As both PEPE and SHIB position themselves for their upcoming growth phases, investors are keenly observing potential catalysts that might propel these tokens to new heights, such as strategic partnerships, product innovations, or favorable market dynamics.
These developments could spark renewed interest and drive the prices upward.
Positioned for ongoing success, PEPE and SHIB’s unique offerings and active communities make them strong contenders in the fluctuating crypto landscape, ready to seize new growth opportunities and attract more investors.
Entering the scene with considerable promise is Retik Finance (RETIK), a decentralized finance (DeFi) platform poised for substantial growth, thanks to its innovative financial solutions aimed at bridging traditional finance and the crypto world.
Operating on the Ethereum blockchain, RETIK introduces a range of DeFi products and services, including DeFi debit cards, smart payment gateways, AI-driven peer-to-peer lending, and secure multi-chain wallets, prioritizing accessibility, security, and user experience.
READ MORE: UK Financial Watchdog Eases Path for Crypto ETNs, Keeping Retail Investors on the Sidelines
Analysts are particularly bullish about RETIK’s potential for the following reasons: the platform’s presale stages have shown a strong surge in demand, indicating its attractiveness as an investment; its suite of innovative DeFi solutions tackles major financial industry challenges, setting the stage for long-term market success; the platform enjoys robust community support, providing a solid foundation for future growth; and strategic industry partnerships enhance RETIK’s market presence and expansion potential.
Although predicting exact price movements is challenging due to market volatility, analysts are optimistic about RETIK’s potential for significant appreciation, fueled by its groundbreaking offerings, growing demand, community backing, and strategic alliances.
As PEPE and SHIB brace for further growth, RETIK stands out as a compelling investment opportunity in the DeFi sector, ready to leave a significant mark in the crypto market with its forward-thinking approach, strong community, and strategic collaborations.
Amid the uncertainties of the cryptocurrency world, RETIK emerges as a noteworthy player for investors eager to delve into the expanding realm of decentralized finance.
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Prosecutors are advocating for a substantial prison sentence for Sam Bankman-Fried, the ex-CEO of the now-defunct cryptocurrency exchange FTX, after his conviction on fraud charges.
They propose a term of 40–50 years, in contrast to Bankman-Fried’s defense team requesting a maximum of six and a half years.
Bankman-Fried, who could face a maximum of 110 years, was found guilty on multiple charges, including wire fraud, securities fraud, and money laundering conspiracy, on November 2, 2023.
The government’s 116-page sentencing memorandum, delivered to Judge Lewis Kaplan on March 15, offers a thorough account of Bankman-Fried’s illegal activities.
The document emphasizes his scheme to make unlawful political donations, efforts to bribe Chinese officials, banking misconduct, attempts at shifting blame, and obstruction of justice.
Notably, Bankman-Fried was not extradited by the Bahamas for illegal political contributions or charged with bribing Chinese officials.
The memorandum sharply criticizes Bankman-Fried for not genuinely acknowledging his role in FTX’s collapse and the ensuing loss of customer funds, stating, “The defendant has failed to take genuine responsibility for his role in the collapse of FTX and the loss of customer funds.”
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Highlighting the gravity of his offenses, the memorandum argues for sentence enhancements and draws parallels between Bankman-Fried and other infamous financial criminals like Bernie Madoff.
It also includes personal accounts from victims, underscoring the significant distress caused by FTX’s failure.
Prosecutors believe a sentence within their recommended range would serve dual purposes: ensuring Bankman-Fried pays for his crimes while safeguarding society by preventing future fraudulent activities.
They also seek an $11 billion judgment against him, highlighting the financial magnitude of his crimes.
The decision on the final sentence rests with Judge Kaplan, who is not bound by the prosecution’s recommendation.
The sentencing is scheduled for March 28, marking a pivotal moment in the case against the disgraced cryptocurrency mogul.
This case not only underscores the severity of Bankman-Fried’s actions but also serves as a cautionary tale in the volatile world of cryptocurrency trading and investment.
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Big Eyes Coin has been accused of scamming its investors following the conclusion of its pre-sale.
Big Eyes Coin is a project that has garnered significant attention within the cryptocurrency community, emblematic of a new wave of meme coins with a distinct focus not only on creating wealth but also on fostering community engagement and contributing to environmental sustainability.
Conceptual Underpinnings
At its core, Big Eyes Coin is a decentralized finance (DeFi) project built on the Ethereum blockchain, leveraging the security, transparency, and smart contract capabilities inherent to Ethereum. It distinguishes itself from other meme coins by adopting a cat-themed persona, which is a strategic deviation from the prevalent dog-themed coins such as Dogecoin and Shiba Inu. This choice reflects a broader strategy to tap into the immense popularity of cats in internet culture, aiming to attract a wide and diverse audience to its ecosystem.
Community and Cultural Impact
The essence of Big Eyes Coin lies not just in its financial mechanisms but significantly in the vibrant community it seeks to build and nurture. The project places a heavy emphasis on community involvement, with mechanisms in place for governance, charitable activities, and content creation. By fostering a sense of ownership and participation, Big Eyes Coin aims to create a self-sustaining ecosystem where community members are motivated to contribute to its growth and to the welfare of the broader community, including environmental conservation efforts.
The cultural impact of Big Eyes Coin can be seen in its marketing and promotional activities, which often incorporate playful, engaging content that resonates with the broader internet culture. This approach not only aids in breaking down the complex and often intimidating world of cryptocurrency for the average person but also cultivates a brand that is accessible, relatable, and fun.
Economic Model
The economic model of Big Eyes Coin is designed to support its long-term sustainability and growth. It features a tokenomics structure that includes transaction taxes to fund various aspects of the project, such as liquidity provision, marketing, and charitable donations. Additionally, the model emphasizes the scarcity of the token through mechanisms like burning, which are intended to support its value over time.
One of the standout features of Big Eyes Coin’s economic model is its commitment to charity, particularly in supporting ocean conservation projects. A portion of the transaction taxes collected is allocated to reputable organizations working on preserving marine biodiversity, highlighting the project’s dedication to leveraging cryptocurrency for social and environmental good.
Contributions to Blockchain and Environmental Conservation
Big Eyes Coin contributes to the broader blockchain ecosystem by demonstrating how meme coins can transcend their origins as speculative assets to become vehicles for positive community engagement and social impact. It showcases the potential of DeFi to democratize finance, provide avenues for charitable giving, and create inclusive communities around shared interests and values.
In terms of environmental conservation, Big Eyes Coin’s commitment to donating a portion of its proceeds to ocean conservation initiatives sets a precedent for how cryptocurrency projects can contribute to solving real-world problems. This approach not only adds a layer of purpose to participating in the Big Eyes Coin ecosystem but also raises awareness among its community members about the importance of environmental stewardship.
Final Thoughts
Big Eyes Coin represents a novel intersection of meme culture, cryptocurrency innovation, and social consciousness. By leveraging the widespread appeal of internet cat culture, it has carved out a unique niche in the crowded cryptocurrency space. Its focus on community engagement, environmental sustainability, and an accessible economic model offers a compelling blueprint for future projects in the DeFi space. As the project continues to evolve, its success will likely hinge on its ability to maintain its community-driven ethos, innovate within the rapidly changing landscape of blockchain technology, and fulfill its commitments to environmental conservation. Through these efforts, Big Eyes Coin has the potential to not only create wealth for its participants but also contribute to the greater good, showcasing the transformative power of cryptocurrency.
The Biden administration is currently facing significant pressure to assist in the release of Tigran Gambaryan, a Binance executive and former U.S. federal agent, along with another Binance executive, Nadeem Anjarwalla.
Both have been detained by the Nigerian government since February 26, 2024, without their passports.
This call for action has been prominently voiced by the U.S. Chamber of Digital Commerce, which expressed its concerns through a blog post on March 15, advocating for swift diplomatic measures to rectify what it deems a grave injustice.
Highlighting the gravity of the situation, the Chamber pointed out the detention of Gambaryan under dubious conditions as a dire precedent that threatens the safety and legal security of American entrepreneurs abroad, particularly in the cryptocurrency sector.
The Chamber emphasized, “The unwarranted detention of Tigran Gambaryan is more than a legal issue; it is a matter of national dignity and the protection of American citizens worldwide.”
This statement underscores the perceived arbitrariness of Gambaryan’s detention, lacking due process, and posing a significant challenge to the norms of international law and diplomatic relations.
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Nigeria, which receives over $1 billion in U.S. foreign aid annually and is considered an ally of the United States, has yet to provide a clear rationale for the detentions.
The issue first came to light in late February, with the Financial Times reporting on the situation without naming the detained executives specifically.
Gambaryan and Anjarwalla, the latter holding dual citizenship in the United Kingdom and Kenya, traveled to Abuja on February 25 upon an invitation from the Nigerian government.
Their visit aimed to discuss a dispute involving Binance’s alleged illegal operations in the country.
Their discussions with Nigerian officials on February 26 were meant to address the government’s request to telecom providers to block access to Binance and other crypto exchanges, which were blamed for the naira’s devaluation and facilitating illegal fund flows.
However, instead of making progress, both executives were taken to their hotels after the meeting, instructed to pack up, and subsequently moved to a “guesthouse” operated by Nigeria’s National Security Agency, as per their families.
This incident occurred shortly before Binance announced its withdrawal from Nigeria on March 5.
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Recent data from the Shibburn tracker reveals a significant amount of Shiba Inu (SHIB) meme coins has been permanently removed from circulation.
In the last 24 hours, a combined effort from the SHIB community has successfully transferred 28,709,351 SHIB coins to a dead wallet, making them inaccessible and effectively reducing the total supply.
This was accomplished through six dedicated transactions, with the two largest transfers removing 21,657,489 and 6,824,773 SHIB coins respectively.
This action represents a step towards making Shiba Inu a rarer asset in the cryptocurrency market.
The SHIB army’s initiative to burn these coins demonstrates a commitment to increasing the value of their preferred cryptocurrency by decreasing its availability.
In parallel with the coin burn, the Shiba Inu cryptocurrency has experienced significant price movements.
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Over the last two days, SHIB saw a sharp decrease in its value, dropping by 19.20%, with 13.17% of this decline happening in the last 24 hours alone.
This downturn followed a period of impressive growth where SHIB eliminated two zeros from its value, peaking at $0.00003. As of now, it has corrected to a trading price of $0.00002811.
The fluctuations in Shiba Inu’s price are closely tied to the broader cryptocurrency market trends, notably following a major correction in Bitcoin’s value.
After reaching an all-time high of $73,750, Bitcoin experienced a downturn, currently trading at $68,321.
This movement reflects the volatile nature of the cryptocurrency market, where significant gains can be quickly followed by rapid declines.
The recent activities around Shiba Inu, from coin burning to price adjustments, highlight the dynamic and community-driven aspects of meme cryptocurrencies.
These events underscore the unique factors that influence the valuation and perception of digital currencies like Shiba Inu in the ever-evolving crypto landscape.
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In recent legal filings, U.S. prosecutors disclosed attempts by Sam “SBF” Bankman-Fried to rehabilitate his image following the 2022 downfall of FTX.
A Google document, attached to the sentencing memorandum filed on March 15, outlined Bankman-Fried’s 19 strategies aimed at shifting the narrative around the cryptocurrency exchange’s collapse.
These strategies ranged from making media appearances, such as on Tucker Carlson’s show while announcing a political affiliation shift, to disseminating documents to the media, critiquing legal representation, and promoting a staunchly pro-crypto stance alongside an anti-Binance campaign.
The inclusion of this document is part of the prosecution’s case advocating for a severe penalty for Bankman-Fried, who was convicted of fraud and money laundering charges last November.
This document, prosecutors argue, illustrates Bankman-Fried’s potential to perpetrate further fraudulent activities if given the opportunity to reintegrate into society prematurely.
They highlight an instance where, even after FTX declared bankruptcy and subsequent to his indictment, Bankman-Fried pondered over initiating “Archangel LTD,” a venture akin to FTX’s operations aimed at re-establishing an exchange platform.
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While the government seeks a prison term of 40 to 50 years, considerably less than the possible maximum of 110 years as per U.S. sentencing guidelines, Bankman-Fried’s defense is advocating for a sentence under seven years.
This plea was made in a memo on Feb. 27, ahead of District Judge Lewis Kaplan’s sentencing decision set for March 28.
Prosecutors further critiqued Bankman-Fried’s sentencing submission for attempting to downplay his crimes as simple misjudgments or misunderstandings, referencing letters from his defense requesting a lenient sentence.
They assert that Bankman-Fried is keen on crafting a narrative of redemption, aiming to manipulate others into investing based on deceitful premises and unfounded optimism.
This case follows a jury finding Bankman-Fried guilty on all seven counts leveled against him by the U.S. government, charges he has denied.
In a related development, FTX’s new leadership announced plans to settle debts with creditors, calculating repayments based on the cryptocurrency values at the time of its bankruptcy filing.
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The cryptocurrency market, notorious for its fluctuations, recently saw Shiba Inu (SHIB), a cryptocurrency inspired by dog memes, experience a significant drop in value. In a single trading session, SHIB’s price fell by 13%, reaching a low of $0.000027.
This downturn was part of a broader market retreat, with Bitcoin’s value dipping to $65,565 before rebounding to approximately $67,700. At the time of reporting, SHIB’s value had decreased by 13.77% over the past day to $0.00002908 and by 14.43% over the past week.
The decline in SHIB’s price might be attributed to various factors, but on-chain data provides insight into the potential primary cause.
This data, detailing SHIB transactions, suggests a decrease in large transactions, known as “whale” activities, could have influenced the market.
Since March 5, there’s been a 5.43% drop in such transactions, according to IntoTheBlock data.
This kind of data is essential for understanding market dynamics, including investor confidence and market sentiment.
Furthermore, the frequency of coin trading can indicate investor intentions, with more frequent trades suggesting a focus on short-term profits.
This is evidenced by changes in the average holding time for SHIB, which decreased to four weeks by March 13, indicating a preference for speculative trading.
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This behavior is characterized by decisions driven by market trends and sentiments rather than the asset’s fundamental value.
The 13% decline in SHIB’s value seems consistent with this speculative trading pattern, where traders leverage the hype around popular cryptocurrencies for quick transactions, leading to sudden market movements.
Despite this volatility, SHIB saw a significant price increase to $0.00004575 on March 5, after a 300% surge.
Presently, SHIB’s price is oscillating between $0.000027 and $0.000039, highlighting the cryptocurrency’s continuing fluctuation within this range.
This scenario underscores the volatile and speculative nature of the cryptocurrency market, where asset prices can shift rapidly based on trading behaviors and prevailing market sentiments.
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The cryptocurrency sector has reacted positively to the UK’s Financial Conduct Authority (FCA) announcement on March 11, stating it will simplify the process for listing crypto investment products, specifically crypto exchange-traded notes (ETNs), for professional investors.
However, retail investors are still excluded from participating, reflecting a cautious stance towards broader crypto market accessibility.
Europe’s regulatory framework does not support exchange-traded funds (ETFs) for single assets like Bitcoin or Ether, positioning ETNs as the preferred exchange-traded product (ETP) in both the EU and the UK.
This recent development is seen as a step towards integrating cryptocurrency into the regulated financial market, potentially closing the gap between traditional finance and the burgeoning crypto sector.
Natalia Latka of Merkle Science highlighted the significance of this move, emphasizing its potential to foster cryptocurrency’s integration into a regulated framework.
Yet, she pointed out the ongoing exclusion of retail investors, underlining the UK’s cautious approach towards embracing crypto assets among the general public.
George McDonaugh of KR1 praised the FCA’s decision but called for further action to make the market more inclusive.
He advocated for expanding the UK’s listing regime to allow more companies access to the London Stock Exchange’s Main Market and its junior market, aiming to bolster the UK’s position as a global crypto hub.
The cautious approach of the FCA, established on October 6, 2020, reflects concerns over the valuation of crypto assets, the risk of market abuse, financial crime, and the volatility of crypto asset prices.
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Despite these reservations, the cryptocurrency market has seen significant growth, prompting discussions about revisiting regulations, especially concerning retail investors.
CryptoUK, a trade association, has voiced support for regulatory changes that provide a balanced field for all types of innovation while advocating for the reconsideration of bans on retail investor access to crypto investments.
The statement stresses the importance of proportionate regulation and investor protection without disproportionately limiting access to crypto assets.
The FCA’s current stance and the industry’s reaction underscore the ongoing dialogue between regulatory bodies and the crypto sector.
The hope is for a regulatory environment that both protects investors and supports innovation, contributing to the UK’s ambition to become a leading global hub for crypto asset technology.
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Bitcoin will create 100 new millionaires each day of the 2024 bull run, according to estimates.
The narrative of Bitcoin millionaires is a fascinating tapestry that intertwines the realms of technology, finance, and sheer fortitude. These individuals, often characterized by their visionary outlook and sometimes sheer luck, have journeyed through the volatile landscape of cryptocurrency to amass fortunes. Their stories are not just tales of wealth accumulation but also chronicles of the transformative power of blockchain technology and its impact on personal wealth and the global financial system.
The early adopters of Bitcoin, who saw potential in what was then considered a niche or even dubious digital asset, form the vanguard of these millionaires. They believed in the technology when a single Bitcoin was worth just a fraction of a cent, and their faith was rewarded exponentially as its value skyrocketed, peaking at tens of thousands of dollars per coin. Their success stories are often marked by bold investments made at a time when the broader market was either unaware or skeptical of cryptocurrencies’ potential.
Among these trailblazers, some have used their newfound wealth to further invest in the tech industry, backing new startups and blockchain projects. Others have taken a more philanthropic route, donating significant portions of their wealth to charitable causes. This reflects a broader ethos within the cryptocurrency community, which values innovation, decentralization, and, in many cases, a desire to redistribute wealth more equitably.
Bitcoin millionaires also exemplify the potential for dramatic social mobility within the digital age. Individuals from modest backgrounds have turned small investments into vast fortunes, highlighting the democratizing potential of cryptocurrency investment. However, this journey is not without its risks, as the market is known for its high volatility and unpredictability. Many have seen their fortunes fluctuate wildly with the market’s ebbs and flows, serving as a cautionary tale of the risks associated with cryptocurrency investments.
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Furthermore, the stories of Bitcoin millionaires have a profound impact on public perception, contributing to the growing interest and investment in cryptocurrencies. They serve as both inspirations and cautionary figures, embodying the high-reward, high-risk nature of cryptocurrency investment. As the market matures and more individuals look to cryptocurrencies as both an investment and a revolutionary technology, the tales of these early millionaires will undoubtedly continue to captivate and inspire.
In the broader context, the phenomenon of Bitcoin millionaires illustrates the disruptive potential of digital currencies to challenge traditional financial systems. It underscores the shift towards a more decentralized and democratized financial landscape, where individuals have greater control over their wealth and are not reliant on traditional banking institutions. This shift has prompted discussions about the future of money, the role of central banks, and the potential for cryptocurrencies to alter the very fabric of global economics.
As Bitcoin continues to evolve, the stories of its millionaires will remain a testament to the transformative power of technology and vision. They are a reminder of the potential rewards that await those who dare to invest in the future, albeit with caution and awareness of the risks involved. The legacy of Bitcoin millionaires extends beyond their wealth, embodying the spirit of innovation and the potential for technology to redefine our understanding of value, money, and how we transact in a digital world.
Automated Teller Machines (ATMs) have been a staple of the global financial landscape since their inception in the late 1960s. Designed to offer banking customers the convenience of conducting various financial transactions without the need for a bank teller, ATMs have evolved significantly over the years. Despite the rise of digital banking and contactless payments, ATMs continue to play a crucial role in the global banking infrastructure, particularly in regions where cash remains a predominant form of payment.
The future of ATMs is being shaped by several key trends and challenges. While digital banking and contactless payments have gained traction, reducing the overall demand for cash transactions, ATMs still hold their ground, especially in developing markets and low-income regions. In these areas, ATMs provide a critical link for the underbanked population, facilitating access to cash and banking services.
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Market growth in the ATM sector is anticipated to be significant, with projections indicating an expansion of USD 5,641.95 million from 2022 to 2027, marking a compound annual growth rate (CAGR) of 4.56%. This growth is driven by advancements in ATM technology and the continued need for cash in various parts of the world. Leading contributors to this market include Cashway Fintech Co. Ltd. and Diebold Nixdorf Inc., among others, who are at the forefront of offering innovative ATM solutions.
In response to the evolving financial landscape, the ATM industry is also witnessing a shift towards integrating more advanced technological features. Innovations such as biometric authentication and facial recognition are being explored to enhance the security and efficiency of ATM transactions. These features not only improve the user experience but also play a crucial role in fraud prevention and anti-money laundering efforts.
The regulatory landscape is also impacting the ATM market, especially in the realm of cryptocurrencies. For instance, certain jurisdictions have introduced regulations to cap ATM withdrawals for cryptocurrencies to combat scams and excessive fees. These measures reflect the growing concern over the security and integrity of financial transactions in the digital age.
Despite these advancements and challenges, the ATM market is poised for growth, with projections suggesting it could reach $50 billion globally by 2032, exhibiting an 8.6% CAGR. North America currently leads the market share, thanks to its early adoption of ATM technology and a well-established financial services industry. However, the Asia-Pacific region is expected to witness the fastest growth rate, attributed to rapid economic growth, increased banking access, and the expansion of financial services in emerging markets.
As the ATM industry continues to evolve, it faces the dual challenge of adapting to the digital transformation in banking while also meeting the persistent demand for cash in certain segments of the global economy. Innovations in ATM technology and regulatory adaptations will likely shape the future trajectory of this industry, ensuring that ATMs remain an essential component of the global financial ecosystem.
Bitcoin Automated Teller Machines
Bitcoin ATMs have emerged as a bridge between the digital currency ecosystem and the traditional financial system, offering users a convenient way to buy or sell Bitcoin with cash. These machines look similar to traditional ATMs but function differently, connecting directly to the Bitcoin blockchain to facilitate transactions.
Despite the digital trend in finance, the presence of Bitcoin ATMs underscores the demand for physical touchpoints for digital currency transactions. Their growth reflects the increasing adoption of cryptocurrencies across the globe. In recent years, the network of Bitcoin ATMs has expanded significantly, with machines installed in various locations worldwide, from shopping centers to convenience stores.
The expansion of Bitcoin ATMs has not been without challenges, including regulatory scrutiny aimed at preventing fraud and ensuring compliance with anti-money laundering regulations. For instance, some jurisdictions have introduced withdrawal limits and other measures to enhance security and consumer protection. Nevertheless, Bitcoin ATMs continue to play a crucial role in the broader acceptance and accessibility of Bitcoin, especially for those who prefer or require cash transactions or lack access to traditional banking services.