Banks Financial News

04.02 / 06:41

Blockchain Banks Research MIT Fed and MIT's CBDC research: Distributed Ledger tech has ‘downsides’

Theoretical research into a Central Bank Digital Currency (CBDC) in the U.S. has found that distributed ledger architecture has “downsides.”

28.01 / 04:01

business Banks Bitcoin services Flushing it: $8B New York commercial bank to offer Bitcoin services

Flushing Financial Corporation, the parent company behind New York-based Flushing Bank has partnered with crypto firm New York Digital Investment Group (NYDIG) to offer Bitcoin (BTC) services to its customers.

23.01 / 05:11

Blockchain Technology Banks Bitcoin Decentralized and traditional finance tried to destroy each other but failed

The year 2022 is here, and banks and the traditional banking system remain alive despite decades of threatening predictions made by crypto enthusiasts. The only endgame that happened— a new Ethereum 2.0 roadmap that Vitalik Buterin posted at the end of last year.

18.01 / 16:33

business Europe Banks expansion BitMEX execs reveal EU expansion with German bank acquisition

Founded by BitMEX Group CEO Alexander Höptner and CFO Stephan Lutz, BXM Operations AG announced today its plans to acquire Bankhaus von der Heydt, one of the oldest banks in Europe, to create a regulated crypto one-stop-shop in Germany, Austria and Switzerland.

12.01 / 16:53

business Banks Bitcoin Swiss acquires Owner of Russian bank Tinkoff acquires Swiss digital asset firm

TCS Group, the owner of the major private Russian bank Tinkoff, is gaining exposure to digital assets.

12.01 / 16:28

business Blockchain Adoption Banks Seba Bank Seba Bank raises $119M in Series C funding

Seba Bank, a Swiss-based digital assets banking platform regulated by the Swiss Financial Market Supervisory Authority, announced on Wednesday that it had completed a successful Series C funding round of 110 million Swiss franc, or $119 million U.S. dollars. Notable investors in the round included cryptocurrency exchange FTX, quantitative digital currency trading firm Alameda Research, decentralized finance asset management firm DeFi Technologies, and venture capital entities such as Altive, Ordway Selections and Summer Capital.

11.01 / 12:19

Blockchain Adoption Banks Backed Financial Axis Bank issues financial contract on state-backed blockchain platform

Indian financial services giant Axis Bank issued a financial contract between two domestic businesses by using a government-backed blockchain platform called Secured Logistics Document Exchange (SLDE).

31.12 / 00:51

business Stablecoin Banks Crypto Biz: The blockchain revolution will cast aside the skeptics, Dec. 23-30

From a price perspective, the cryptocurrency market is ending 2021 with a whimper as Bitcoin (BTC), Ether (ETH) and other digital assets continue to trade well below their prior peaks. But the business of blockchain and crypto is heating up, as evidenced by the arrival of institutional capital and the flood of venture funding into the space.

29.12 / 02:44

business Stablecoin Banks FTX exchange floats $1M prize for banks to accept stablecoins

Cryptocurrency derivatives exchange FTX is calling on banks to reach out and discuss the possibility of accepting stablecoins in exchange for a $1 million reward.

14.12 / 17:41

business Blockchain HSBC Banks Wells Fargo partners with HSBC to settle FX transactions using blockchain

Wells Fargo has partnered with HSBC to use its blockchain tools for the settlement of bilateral foreign exchange (FX) transactions.

14.12 / 17:41

business Government Banks Ukrainian bank uses Stellar to launch electronic hryvnia pilot

Tascombank, one of the oldest commercial banks in Ukraine, is launching a Stellar-based pilot for Ukraine’s national fiat currency, the hryvnia.

14.12 / 11:49

Banks Bank of England crypto market cryptoassets BoE's Bailey tells banks to be 'especially cautious' with crypto

Bank of England Governor Andrew Bailey warned banks and other regulated financial firms on Monday that they should be «especially cautious» about holding volatile cryptoassets until regulators put new rules in place. Bailey, speaking at a news conference, said future rules for cryptoassets — the BoE's preferred term for financial instruments such as bitcoin — would balance risk management with the need to support innovation and competition.

11.12 / 20:15

business Adoption Banks Books DeFi resolving the five flaws of traditional finance, book review

Writing a book on decentralized finance is a bit like describing a riddle, wrapped in a mystery inside an enigma, to borrow from Winston Churchill. First, one must summarize the origins of modern decentralized finance, then the mechanics of the blockchain technology that provides the sector’s backbone, and only then do you arrive at DeFi’s infrastructure. It all should be done in 191 pages, too, including glossary, notes and index. It is not an undertaking for the faint of heart.

07.12 / 09:29

Adoption Banks South America Gemini partners with Colombia's biggest bank for crypto trading

New York-based crypto exchange Gemini has announced that it will be expanding into Latin America through an upcoming partnership with Colombia’s largest bank, Bancolombia.

06.12 / 14:53

business regulation Banks Deal Indian Major Indian bank breaks ‘banking ban’ with WazirX crypto exchange deal

Kotak, India’s leading private bank, has reportedly become the first to open its gates to the crypto community, as per a report published in Economic Times.

02.12 / 10:13

Adoption us government Banks Central Bank Lummis says Fed is 'violating the law' with Wyoming blockchain bank delays

Republican senator for Wyoming Cynthia Lummis has argued that the Federal Reserve is “violating the law” by delaying the processing of applications from crypto-native banks to receive accounts at the central bank.

23.11 / 03:49

business Citi Banks Citi Group appoints head of digital assets in crypto hiring spree

American multinational investment bank Citi announced it had appointed Puneet Singhvi to lead the digital assets division of its Institutional Clients Group (ICG) starting on Dec. 1.

19.11 / 08:19

Government Adoption Banks RBA warns Aussies over punting on ‘fad driven’ cryptocurrencies

The Reserve Bank of Australia (RBA) has warned Aussie investors about speculating on digital assets as it casts doubt over the entire crypto sector.

16.11 / 08:31

Adoption Banks Central Bank Bank of England Threat financial stability Financial Crypto poses imminent threat to financial stability: Bank of England Deputy Governor

Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England (BoE) crypto may pose an imminent threat to the traditional financial system.

14.11 / 00:35

Blockchain Technology Stablecoin Banks The stablecoin boom won’t continue without decentralized interoperability

Stablecoins are the cornerstone of the digital asset marketplace with a market cap of over $100 billion. Governments are already putting considerable resources in being up to speed with the trends.

08.11 / 20:37

business defi Aave Banks ING dutch Dutch multinational ING considers entering DeFi lending industry

In a presentation made during the Singapore Fintech Festival, Annerie Vreugdenhil, chief innovation officer of ING, announced the firm is working on a trial of its decentralized finance, or DeFi, peer-to-peer lending protocol with the Netherlands Authority for the Financial Markets. Vreugdenhil said the following in regards to the development, as reported by Ledger Insights:

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