Coinbase receives overwhelming response to 90-day USAA Bitcoin Pilot

Just hours later announcement Texas-based diversified financial services group USAA, in partnership with Coinbase, launched a pilot project that enables randomly chosen, limited group of USAA members to fund their Bitcoin balance on USAA.com and the USAA mobile app, the bitcoin wallet and instant exchange company has received an overwhelming number of requests from unselected USAA members. The pilot project was initially rolled out for USAA employees in September.

NEWSBTC.com learned that the program took approx. 90 days from November 2nd, 2015 – January 29th, 2016. When asked about the next step after the Bitcoin pilot, USAA replied:

“Our next steps depend on the results of this pilot project.”

How will the USAA’s bitcoin pilot work?

The Bitcoin pilot will use Coinbase API Coinbase Connect to allow selected USAA members to link their Coinbase account to USAA and allow them to view their Bitcoin balance on USAA.com and the official mobile app.

In May, the financial services group, which offers insurance, banking, investment, retirement products and advice to 11.2 million current and former US military personnel, announced that it was experimenting with Bitcoin technology to optimize back-office processes.

At the time, USAA’s Managing Director of Corporate Development, Alex Marquez, said:

We have a serious interest in the blockchain and believe that the technology would have an impact on the organization. The fact that we have such a large group of people working on it shows how seriously we take the potential of this technology.

Although Bitcoin has received a lot of attention in mainstream media recently, the lack of trust leaves most consumers reluctant to use this cryptocurrency. This USAA pilot can help promote and bring Bitcoin to more people in the US

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