Search Results for "banking"
Banks Are Increasingly Starting to Offer Cryptocurrency Services in 2020
Banks have increased their interest in cryptocurrencies. Many of them have decided to join the cryptocurrency market, either by offering investments in cryptocurrency or by exploiting the capabilities of blockchain technology, which is already used in various areas with financial services.
Digital Dollars—A Two Tier CBDC Design to Maintain US Currency Dominance
The Digital Dollar Project (DDP) is the focus of the Digital Dollar Foundation and advocates the need for a CBDC. In their recently released whitepaper, the DDP stipulates that it aims for the US dollar to maintain its global dominance but further warns that the work needs to begin immediately. The DPP also calls for public-private collaboration, including the use of a two-tier system for the spread and distribution of retail digital dollars.
Reserve Bank of Australia Will Explore Wholesale CBDC with ConsenSys Ethereum POC
The Reserve Bank of Australia has partnered with leading Australian banks and ConsenSys Software to explore wholesale CBDCs and distributed ledger technology (DLT).
Indian Crypto Exchanges Seek Clarity on Legal Status and Taxability from the Reserve Bank of India
Crypto exchanges and companies in India are still seeking regulatory clarity and tax status from the Reserve Bank of India following a Supreme Court ruling in favor of the crypto industry earlier this year. India’s Supreme Court reversed the ban placed by the central bank on financial institutions offering crypto-related banking services. It is two months after lifting the ban, crypto exchanges and firms are now seeking clarification regarding the nature of their operations.
Why Regulated Banks Have Greater Potential For Financial Crime Than Bitcoin and Crypto
While agencies focus their attention on transparent Bitcoin transactions, banks have had an official free pass disclaimer to facilitate money laundering the entire time.
China Construction Bank Announces Updates of Blockchain Platform After $50B Transacted
One of China’s four largest banks, China Construction Bank (CCB) has officially released the second version of its blockchain platform for trade finance, reaching 360 billion yuan ($50 billion) in cumulative transaction volume. CCB announced the release of “BCTrade 2.0,” focusing on digitizing trade and financial services between 54 domestic and overseas CCB branches and 40 external organizations. Reported by Xinhua news, these organizations include state-owned banks and foreign banks.
Standard Chartered's Planned Hong Kong Virtual Bank Announced as Mox
Mox is the new virtual bank in Hong Kong to be launched by Standard Chartered in partnership with PCCW, HKT and Trip.com. Launching later this year, the mission of Mox is to help everyone in Hong Kong grow – “your money, your world, your possibilities.”
FDIC to Offer Guidance on Crypto After it Understands its Associated Risks
FDIC's Martin Gruenberg said more guidance will be given to banks about crypto when it gains more understanding of its inherent risks
Cryptocurrency Firms Deny Exposure to Troubled US Banks
Major cryptocurrency firms, including Tether, Crypto.com, Gemini, BitMEX, and others, have denied exposure to dissolved U.S. banks like Silicon Valley Bank and Signature Bank. The firms have taken to social media to assure their users that their funds are safe and accessible despite ongoing issues in the U.S. banking system.
Step Secures $300m Fund, Introduces Crypto Investment Platform for Young Adults
Step has secured $300 million in new debt funding round, which coincided with the company’s launch of a crypto investment platform aimed at minors and young adults - their key clientele.
Ripple Outpaced Other Blockchain Companies on Inc's List of Fastest-Growing US Companies
Ripple has outpaced other indigenous blockchain companies on a recently published list of 5000 fastest-growing private companies in the United States.
Signature Bank Team Joins Customers Bank, Part of $21B Customers Bancorp
Customers Bank, a subsidiary of Customers Bancorp (NYSE:CUBI), has announced the successful onboarding of nearly 30 team members formerly employed by Signature Bank, once known for its crypto-friendly stance.