USAA Piloting Integration of Coinbase Wallet Balances in Online Banking

USAA, a San Antonio-based bank catering to members of the military, is trialling a feature allowing users to check their Coinbase balances from within their online and mobile banking portals.

The pilot was rolled out to USAA employees in September and is now being expanded to a select group of USAA members.

USAA is one of the notable investors behind Coinbase’s $75 million funding round in January. The high number of mainstream financial players in that round was considered a novelty at the time, and marked one of the first stages in what has turned out to be a flood of interest by banks in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology.

USAA itself announced its creation of a research team to explore blockchain technology back in May. At the time, USAA managing director of corporate development Alex Marquez noted that while the bank’s interest in the blockchain is serious, as evidenced by its formation of such a large group, it has no plans to engage with bitcoin as a currency.

USAA, or United Services Automobile Association, started out in the 1920’s catering to members of the US military who had trouble securing insurance due to their perceived high risk. It serves 11.2 million current or former members of the military, with $130 billion in assets under management.