Bank of American announced that it is partnering with Wintrast Bank online banking platform to provide bitcoin savings accounts for consumers and businesses.
Wintrost will allow customers to use bitcoin savings account, which are not subject to federal banking requirements, to buy items online.
The savings accounts are available online through Bank of Americas online banking site.
The Wintrand account is currently in its second week of operations.
“We’re excited to bring this technology to Bank of Americans customers to help them meet their digital needs,” said John F. Sirota, senior vice president and general manager of Wintrit Bank.
“Through this partnership, we’re offering a new type of banking experience that customers can expect and use at home, at work and with their children and friends.”
In addition to offering bitcoin savings, the two companies have partnered to offer online banking for a range of digital payments including credit card payments, bank transfers, money orders and money-lending services.
The banks will also introduce Bitcoin Cash and other digital currency alternatives to their customers.
The bank announced that customers who use bitcoin and other cryptocurrencies to purchase goods and services online will receive a 10 percent discount on any transactions.
Bank of Ameritrade, which is based in Tampa, Florida, will allow consumers to purchase bitcoin and receive an additional 10 percent off any transaction.
The banking institution will also offer bitcoin payments and bitcoin cash payments through its online banking app.
“The Bank of the Americas is taking a leading role in the bitcoin community, and our partners at Wintrik have a strong track record of supporting bitcoin, and are the leaders in the industry,” said Joseph E. Fesco, chief executive officer of W.E.R.P.E., a blockchain platform that helps finance blockchain technology.
“As we continue to grow, we will continue to provide more insight and advice on blockchain and blockchain technology, and provide a range the services customers need.
The Bank of The Americas is a leader in the technology world and is committed to serving the people of Florida, the nation and the world.”
Bank of Asia (BOA) will also launch a bitcoin debit card service and launch a bank account for bitcoin and cryptocurrency users.
The two banks will introduce bitcoin debit cards to their online banking customers.
BOA customers will be able to buy goods and receive cash payments.
The bitcoin debit debit cards will have a minimum $50 withdrawal limit.
“This partnership will help us better meet the needs of our customers by providing them with a convenient way to pay online,” said Brian Wong, CEO and president of the BOA’s Asia-Pacific division.
“In addition, we are pleased to work with the Bank of Wuhan, one of the most prominent bitcoin wallet providers in the region, to create an additional bitcoin debit product for our users.”
The bank also said it will be launching a bitcoin payment service, which will offer a digital debit card with a minimum transaction fee of 2.5 percent.
“With these partnerships, Bank of Japan, the Bank and the Bank are joining forces to create a digital payment network to meet the growing needs of businesses and consumers,” said Kenji Ito, chief financial officer at the BOJ.
“By bringing the convenience of the bank’s online banking service to more customers, the combined companies can provide a better experience for both customers and their financial partners.”
The two companies will also create a bitcoin wallet for digital currency users.
This wallet will allow bitcoin users to send money from their smartphone or tablet to a Bank of North America account.
The wallet will be available to purchase virtual currency, including bitcoin, with a 10 to 1 ratio, as well as fiat currency, such as the yen, the euro, the pound and the US dollar.
“Banks of North Carolina and Wintrex will also be offering a virtual currency payment app,” said Bill Ritter, president of Wifrex, a bitcoin merchant that has partnered with Bank of Washington.
“These services will allow our customers to buy virtual currency with cash and store that cash in their wallet to be sent to their bank account or to a bank in Japan.
The app will provide customers with the convenience and security of a bank-issued digital wallet.”