The New York State Department of Financial Services (DFS) has handed out guidance to regulated banks that wish to engage in activities related to cryptocurrencies. DFS has provided these banks with a checklist of submission requirements for the state regulator seeking to conduct businesses in crypto. The guidance went into effect...
Banks that support cryptocurrencies accept them as a form of payment and provide customers access to cheaper transaction costs. We'll examine the best crypto-friendly banks in 2023 in this post. Despite the fact that banks are afraid of cryptocurrencies, some have welcomed customers who use this cutting- edge digital money. One may be forced to ask, […] The post...
A crypto wallet for JPMorgan can be a little surprising, considering the banking giant has never really been very affectionate about crypto. Topping the list of the largest banks and bank holding companies by market cap, JPMorgan is taking a different stance and now joins the growing number of people and financial institutions adopting crypto wallet. It can be recalled that back in...
Users cannot transfer funds off the platform due to the bank not supporting custodial wallets, but there are lower fees for bitcoin than other digital assets.N26, a $9 billion European digital bank, is launching bitcoin and cryptocurrency trading services, per a report from CNBC.N26 Crypto, the...
Savings account interest rates are not reflecting the changes in interest rates. Bitcoin is a hassle-free way to save and take custody of your assets.This is an opinion editorial by Julian Liniger, the co-founder and CEO of Relai, a bitcoin-only investment app.Traditional banks are short-changing customers by failing to reflect inflationary changes in the saving account interest rates they offer. On...
President Tokayev said Kazakhstan will give full legal recognition to digital assets if demand persists while they continue testing security concerns.The first purchase of cryptocurrency with Kazakhstan’s local currency has been finalized.The President of Kazakhstan says further demand could likely result in full legal recognition of digital assets. The country will continue running a...
Societe Generale said its new suite of services geared to asset managers facilitates the creation of bitcoin and cryptocurrency funds under European law.A French banking behemoth is making it easier for asset managers to offer funds tied to bitcoin.The services are geared to institutions seeking to capitalize on increased demand for BTC and cryptocurrency.The bank promises a “simple...
With Taro, payments are routed through Lightning, weakening stablecoins and opening up opportunities for community banks to connect users to a global audience.This is an opinion editorial by Leo Weese , co-founder of the Bitcoin Association of Hong Kong, where he has organized Bitcoin meetups since 2012.Over the years, Bitcoin has continually proven itself as a robust asset with a...
The banking arm of the Swiss post office and fifth largest Swiss retail bank is set to launch bitcoin trading and custody services by 2024.The fifth largest retail bank in Switzerland will allow its over two million customers to buy, sell and hold bitcoin by 2024. PostFinance is not only a leading Swiss retail bank, but is also the banking arm of...
Many cryptocurrency lending schemes are eerily similar to banks’ abilities to loan out money and create debt through fractional reserve banking.Margarita Groisman graduated from the Georgia Institute of Technology with a degree in industrial engineering and analytics....
Sumitomo Mitsui Trust will partner with Bitbank to form a company focused on institutional custodial services for bitcoin and other cryptocurrencies.Japanese bank Sumitomo Mitsui Trust is launching a new company for institutional clients looking for custodial services for bitcoin and other cryptocurrencies.The new company will be called Japan Digital Asset Trust and is a joint-venture with 85%...
Zurich-based Julius Baer Group will begin offering bitcoin and other cryptocurrency products and services to its clients.Julius Baer Group, a Swiss private bank, will begin offering bitcoin and other cryptocurrency products to high-net-worth individuals. Julius Baer explained we are likely witnessing a bubble similar to the dot-com burst which birthed a new industry. The bank...
Leading Japanese Investment bank, Nomura has decided to launch a crypto subsidiary. This new unit by Nomura shall be operated outside of Japan with a team of 100 personnel by the end of next year. This move is primarily concerned with facilitating institutional clients could invest in cryptocurrencies and non-fungible tokens. The report from Financial Times stated that Nomura plans to give institutions...
Nomura Holdings began trading bitcoin derivative contracts this week including options and futures citing increased institutional demand.Nomura Holdings, Japan’s largest brokerage, now offers bitcoin-based derivatives. Available derivative contracts are non-deliverable forward and options, as well as futures and options contracts.Nomura’s economic consulting arm Nomura Research...
Valliance Bank has selected Bakkt Holdings, Inc, a digital assets company, as it looks to offer its retail customers access to cryptocurrency.
Digital asset technology group, Sygnum inches closer to the status of a unicorn after raising $90 million in its Series B round. The company is now valued at $800 million.
The Office of the Comptroller of the Currency (OCC) has today published a clarifying letter to banks and federal savings associations. As stated in the letter, these concerned parties must demonstrate that they have absolute controls before engaging in any crypto-based activities. Regulatory Clarity For Banks Speaking about the regulatory clarity, the Acting Comptroller of The post OCC Issues Regulatory Clarity For Banks,...
Multinational bank Citi is on a hiring spree to expand its blockchain and digital assets division. The company first launched its digital assets division in June this year. Now, it plans to grow the division by hiring 100 new people. Related Reading | Why Citi Is “Slowly” Building A Crypto Infrastructure, CEO...
The fifth-biggest bank in the country will offer the service to the fund managers in a first instance.
News 