Switzerland’s largest online bank, Swissquote, is planning to launch a cryptocurrency exchange early next year to meet clients’ surging demand for digital assets. Swissquote to Launch Crypto Exchange The bank’s sales manager Jan De Schepper shared the company’s plans to roll out a crypto trading platform during an interview with Finews.asia. “We want to enable...Read More
Wells Fargo – a leading American financial services organization – and HSBC Bank – a major British monetary institution – will employ a blockchain-based product to settle matched foreign exchange (Forex) transactions. Through the partnership, the two entities will use a shared ledger to process operations with US dollars, Canadian dollars, British pounds, and Euros....Read More
German Savings Banks Association – a network of over 400 savings banks throughout Germany – may allow customers to start trading cryptocurrencies from their accounts in 2022. As the market leader among Germany’s financial institutions, the service could give easy crypto access to more than 50 million people. Adopting Crypto Services As reported by the...Read More
The central bank of Thailand reportedly urged local financial institutions to stay away from cryptocurrencies citing risks coming from their enhanced volatility. It added that the broad employment of bitcoin and the altcoins could also impact the Bank of Thailand’s ability to monitor the national economy. BoT Against Crypto Trading According to a coverage by...Read More
Consensys – a blockchain technology company – announced that it has recently raised hundreds of millions of dollars from businesses, including HSBC and Third Point. HSBC is Europe’s largest bank, while Third Point is a US-based hedge fund with $17 billion in assets under management. Major Funding For Consensys Consensys announced the results of their...Read More
Israel’s Authority for Combating Terror Financing and Money Laundering will reportedly impose new regulations on various digital financial products, with cryptocurrencies being some of them. The government unit raised hopes that the legislation will diminish crypto’s use in criminal activities and grant more support to the local investors. Clear Standards for Crypto A recent report...Read More
ING – the Dutch multinational banking corporation – has begun collaborating with the Netherlands’ financial authority on utilizing decentralized finance. The Bank’s Defi Project Annerie Vreugdenhil – ING’s Chief Innovation Officer – said as much at the Singapore Fintech Festival earlier today. Speaking in a panel discussion, the CIO complimented Singapore’s welcoming regulatory environment. As...Read More
While the talks of central bank digital currencies have been on the table for a few years now, few countries actually took the steps to issue one. Nigeria, in turn, following extensive research and development, is finally ready to unveil the eNaira. ‘Same Naira, More Possibilities’ In a press release syndicated through mass media but...Read More
US Bank – the fifth-largest retail bank in the United States – is launching a crypto custody service available to fund managers as more institutions race to meet clients’ demands for cryptocurrencies. Potential Room For Several of Coins The news, first reported by CNBC, revealed that US Bank partnered with New York Digital Investment Group...Read More
Bank of America has published its report “Digital Assets Primer: Only the first inning,” led by Alkesh Shah, head of Global Cryptocurrency and Digital Asset Strategy, providing an in-depth analysis of the current state of the blockchain industry from cryptocurrencies to DeFi and NFTs. The report says that the industries of cryptocurrencies and decentralized finance...Read More
The major Brazilian bank – BTG Pactual – will enable its customers to trade digital assets directly through a new platform called Mynt. The offering will be available from the next quarter and will include the two leading cryptocurrencies – bitcoin and ether. The New Crypto Opportunity According to a local report, the initiative, which...Read More
In a recent report published by English bank Standard Chartered, analysts structurally value Ethereum at “USD 26,000- 35,000” while also predicting that Bitcoin will reach 170k. Standard Chartered: Why ETH beats Bitcoin for Investment The financial service giant’s report, titled “Ethereum Investor Guide,” explains the network’s value proposition while comparing and contrasting it with the...Read More
The British multinational banking institution – Standard Chartered – has teamed up with the financial technology company – Linklogis – to launch a new blockchain-based digital trade finance platform. It comes by the name of Olea, and its goal would be to bring together “institutional investors seeking opportunities in an alternative asset class with businesses...Read More
Despite the bearish rhetoric prevalent among crypto analysts until recently, Morgan Stanley, one of the largest banks in the United States, has been gaining exposure to Bitcoin by investing millions of dollars through its various funds. Even though the information was publicly available, Twitter User MacroScope was one of the firsts to share it on...Read More
US multinational investment banking giant Citigroup is reportedly considering trading bitcoin futures, stating that it has witnessed an increased interest in BTC from its institutional clients. CME Looking to Trade CME Bitcoin Futures According to a report by CoinDesk on Tuesday (August 24th, 2021), an anonymous source within the bank revealed that Citi is working...Read More
A few months after dabbling with the idea of getting on the cryptocurrency bandwagon, Wells Fargo has filed documents with the US Securities and Exchange Commission to launch a designated Bitcoin fund. According to the filing with the Commission, the US financial institution has partnered with FS Investments and New York Digital Investment Group (NYDIG)...Read More
The American financial institution State Street Corporation will reportedly start offering digital assets services for its private-fund clients. The bank’s partner in the move is the back-office crypto-focused technology company – Lukka Inc. State Street Dives Deeper into Crypto According to a recent Bloomberg report, the leading US bank – State Street Corporation – is...Read More
According to recent research conducted by Nickel Digital Asset Management, nearly 75% of institutional investors and wealth managers stated that the security of virtual currencies is a “significant” hurdle stopping many individuals from entering the crypto space. Low Confidence among Institutional Investors The UK-based investment manager – Nickel Digital Asset Management – asked 100 global...Read More
While the world worries about the fall of Bitcoin prices, billionaires are increasingly enamored with the cryptocurrency. A recent Goldman Sachs study revealed that at least 45% of family offices are interested in investing large amounts of money in cryptocurrencies. Family offices are firms in charge of managing the money of billionaires such as Amazon’s...Read More
The Bank of New York Mellon Corporation and State Street Corporation joined four other institutions in backing the digital asset exchange Pure Digital. Furthermore, America’s oldest banking organization plans to expand its crypto offerings to clients. BNY Mellon Diving Deeper into Crypto According to a recent Financial Times report, one of the largest custodian banks...Read More
The European Central Bank will start an investigation phase of a digital euro project, which will last 24 months after years of dabbling with the idea. The organization promised privacy protection and also lower energy consumption than Bitcoin. Although the idea of a central bank digital currency has floated around for years, the ECB has...Read More
The world’s largest digital asset manager, Grayscale Investments, has partnered with America’s oldest bank BNY Mellon. As a result, the banking giant will provide the Grayscale Bitcoin Trust with fund accounting and administration starting later this year. The announcement from Grayscale states that as of October 1st, 2021, BNY Mellon will become an official partner...Read More
Mercado Bitcoin, the largest crypto exchange in Brazil, has received a $200 million investment from the Japanese multinational conglomerate holding company, Softbank Group Corp, in a recently-concluded Series B funding. The Largest Series B Funding in LatAm According to a Thursday report, SoftBank made this investment through its Latin America Fund. Robert Dagnoni, the executive...Read More
It seems that the Mexican government has no interest in becoming the next Bitcoin Nation, nor does it want its private banks to walk down that road. Mexico Says No To Crypto The Secretary of Finance and Public Credit of the Government of Mexico, Arturo Herrera Gutierrez, shared on his Twitter account an official statement...Read More
British banks are making it increasingly difficult for their customers to get involved with crypto, citing particular concerns related to security and exposure to fraud. According to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is...Read More
After conducting tests for several months, the Swiss branch of the large Spanish bank – Banco Bilbao Vizcaya Argentaria (BBCA) – has announced plans to release two services related to the cryptocurrency industry. According to the official statement, private banking customers based only in Switzerland will have the option to trade bitcoin and other digital...Read More
Large hedge funds expect to increase their cryptocurrency holdings to 7% in five years, a recent survey conducted by the Financial Times concluded. This comes after the increased involvement from prominent names like Stan Druckenmiller, Paul Tudor Jones III, SkyBridge Capital, and more. Hedge Funds to Increase Crypto Holdings It’s safe to say that 2020...Read More
America’s second-oldest bank, State Street Corporation, will establish a digital unit to focus on cryptocurrency endeavors. This comes shortly after the banking organization with over $40 billion in Assets Under Management (AUM) said it will enable crypto trading through its platform. State Street Sets Up a Digital Unit The Finance Times reported State Street’s latest...Read More
The global banking body is seeking stakeholder opinions on the best course of action on the issue of banks interacting with crypto assets. From central banks and other regulators to intergovernmental working bodies, legacy finance gatekeepers seem to be paying greater attention to the emerging cryptocurrency market. Public Consultation on Crypto Assets According to a...Read More
The giant British multinational banking and financial services organization, StanChart, intends to release a cryptocurrency trading platform in Britain and Europe later this year. The initiative will come as part of the bank’s new technology arm. Founded in 1969, Standard Chartered is a British banking giant with nearly $1 trillion in assets under management as...Read More
