USAA Takes the Bitcoin Baton from Microsoft

  • Brad Bergan
  • March 17, 2016
  • 0
the doors are opening.

What’s next for bitcoin?

A lot has happened in the bitcoin multiverse this week, some seemingly positive for the embattled cryptocurrency, some decidedly negative.

Starting with Microsoft dropping online bitcoin support for obscure, possibly bureaucratic reasons to the same announcement’s heavy backlash from disgruntled users wondering what in the computerized world is the ostensible motivation for downloading Windows 10, there are waves on the horizon.

As blockchain — the technology underlying bitcoin transactions –moves from victory to victory in the world of finance, bitcoin gets more and more tumultuous.

But a ray of hope has come from — of all things — a bank. Two days ago, USAA announced its integration with Coinbase for account holders to connect and view balances on Coinbase from the website, after a successful pilot in November.

On March 14, USAA gave the first leg of its pilot run the logistical thumbs-up, and predicted a late March release for its mobile app. USAA Lead Investment Associate of Corporate Development Jon Cholak expanded on this multi-level growth, while simultaneously reaffirming USAA as a frontier enterprise in the realm of bitcoin tech.

Traditionally, USAA is very good about getting in front of emerging technology trends. What we’re developing is at the forefront of the financial services industries.

USAA is one of numerous participants in last January’s $75 million Series C round raised by the bitcoin wallet Coinbase. Among these participants were BBVA Ventures and The New York Stock Exchange (NYSE). USAA, with no branch network or costs to drag it down, has long been in the vanguard of fintech innovation.

This news should help dispel the gloom and doom cast over bitcoin advocates in the wake of Microsoft’s downer of an announcement on its Windows Store. But bitcoin appears to be here to stay, and with blockchain or operating independently, the cryptocurrency and the technology that enables it will have a role to play in the coming world of faster payments.

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