Ever since the advent of bitcoin, the debate has alternated between bitcoin as a currency, blockchain as a protocol and bitcoin as an asset class. Japan as recognized bitcoin as a legal method of payment, the financial industry is exploring blockchain and cryptocurrencies shows all traits of a new asset class.
No matter how you choose to look at it, blockhain and digital currencies are gainging a lot of interest, and we wanted to explore this space by allowing our customers to view their Coinbase account balance directly in their online bank. This functionality only expose the account balance at Coinbase, and trading is not offered by the bank.
By utilizing the APIs offered by Coinbase this was made possible as an MVP (Minimum Viable Product), and is a demonstration of the possibilities within open banking. The ability to collaborate with third parties and view open APIs and third-party data as key resources for new business development will define the future of every industry aspring to transition from a linear value chain to a digital ecosystem.
Coinbase Connect expose all currencies traded at Coinbase, and this include bitcoin, ethereum and litecoin.
This feature will be released during the next couple of weeks, if you live in Norway with a Coinbase account make sure to sign up for Skandiabanken Beta to get access to this functionality.