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BANK Price   

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BANK

Bank Coin  

#BANK

BANK Price:
$0.0000632
Volume:
$443
All Time High:
$1,104
Market Cap:


Circulating Supply:
Exchanges:
1
Total Supply:
Markets:
3
Max Supply:
15,069,951
Pairs:
3



  BANK PRICE


The last known price of #BANK is $0.0000632 USD.

Please note that the price of #BANK was last updated over 310 days ago. This can occur when coins have sporadic price reporting, no listings on exchanges or the project has been abandonded. All #BANK statistics should be considered as 'last known value'.

The lowest BANK price for this period was $0, the highest was $0.0000632, and the exact last price of BANK was $0.00006322.

The all-time high BANK coin price was $1,104.

Use our custom price calculator to see the hypothetical price of BANK with market cap of BTC or other crypto coins.


  BANK OVERVIEW


The code for Bank Coin crypto currency is #BANK.

Bank Coin is 4.9 years old.


  BANK MARKET CAP


The current market capitalization for Bank Coin is not available at this time.

Bank Coin is ranking downwards to #21693 out of all coins, by market cap (and other factors).


  BANK VOLUME


There is a weak daily trading volume on #BANK.

Today's 24-hour trading volume across all exchanges for Bank Coin is $443.


  BANK SUPPLY


The maximum supply of BANK is 15,069,951 coins.

Note the limited supply of Bank Coin coins which adds to rarity of this cryptocurrency and increases perceived market value.


  BANK EXCHANGES


BANK has limited pairings with other cryptocurrencies, but has at least 3 pairings and is listed on at least 1 crypto exchange.


  BANK RELATED


Note that there are multiple coins that share the code #BANK, and you can view them on our BANK disambiguation page.


  BANK RESOURCES


Websitebankcoin.io
TwitterBankCoin2018
Redditr/BankCoinGlobal
Telegramjoinchat/GftwABLxBbT6ZEicvV0BAw


  BANK NEWS


US Bank Foresees Major Bitcoin Price Drop To $20,000

    The crypto space is currently facing bearish signals as the price of Bitcoin has failed to maintain crucial levels at $42,000, slipping to $39,909 at the time of writing. United States financial service provider Deutsche Bank, foresees even more declines in the upcoming months, projecting the value of Bitcoin to dip below $20,000.  Deutsche Bank Predicts Massive Bitcoin Decline Reports from Bloomberg, referencing a recent survey made from January 15 to January 19, 2024, by Deutsche Bank reveals investor’s sentiments regarding the volatility and future trajectory of BTC's price. The survey, which appraised over 2000 people in the United States, United Kingdom, and the Eurozone, revealed that a third of the surveyed people expect to see a significant drop in the price of Bitcoin to values below $20,000.  The substantial decline is anticipated to occur around January 2025. Although the majority of people foresee a significant plunge in the value of Bitcoin, the survey also indicates that 15% of people believe that Bitcoin’s price will consolidate between $40,000 and $75,000 by the end of 2024. Additionally, about 10% of the respondents think that Bitcoin could fall between $20,000 and $40,000.  It’s important to note that the price of BTC has been experiencing major declines over the past few weeks. At the time of writing, the cryptocurrency is trading below $40,000 after surging over $45,500 earlier in January this year.  This unprecedente... read More



Congressman Tom Emmer Offers to Help Donald Trump Fight Central Bank Dig...

    Congressman Tom Emmer has offered to help former U.S. President Donald Trump fight the creation of a central bank digital currency (CBDC) in the U.S. 'I agree with President Trump; CBDCs pose a serious threat to Americans' right to financial privacy. I look forward to working with him as we continue the fight against the expanding government surveillance state,' the lawmaker stated.Rep. Emmer Joins Trump in Fight for Americans' Right to Financial Privacy House Majority Whip Tom Emmer (R-MN) has expressed support for former U.S. President Donald Trump in the fight against the creation of a digital dollar. Last week, Trump promised the American people that if he is elected president of the United States in the upcoming election, he will make sure that a central bank digital currency (CBDC) does not get created in the U.S. 'As your president, I will never allow the creation of a central bank digital currency … Such a currency would give a federal government ... absolute control over your money ... This would be a dangerous threat to freedom, and I will stop it from coming to America,' Trump said. Commenting on Trump’s statement regarding CBDCs, Congressman Emmer wrote on social media platform X Friday: I agree with President Trump; CBDCs pose a serious threat to Americans' right to financial privacy. I look forward to working with him as we continue the fight against the expanding government surveillance state. The lawmaker added in a follow-up post: “Congress... read More



American Investment Bank TD Cowen Says Ethereum ETF Will Be Delayed

    Despite the United States Securities and Exchange Commission (SEC) granting approval for Spot Bitcoin ETFs, TD Cowen, a prominent American investment bank and financial service firm, foresees potential delays in the approval process of Ethereum Spot ETFs.  Ethereum Spot ETF Faces Potential Hold-Up TD Cowen, an investment bank and financial service division of TD Securities has made a bold forecast, predicting that the US SEC is unlikely to approve Ethereum Spot ETFs before its deadline. Presently, the SEC is obligated to make its final decision on its rejection or acceptance of Ethereum Spot ETF from May 23 to August 7, 2024.  Earlier on January 10, the SEC officially approved Spot Bitcoin ETFs, triggering expectations that ETH Spot ETFs would follow suit. Several major firms including Ark 21 Shares, VanEck, Fidelity, BlackRock, and Hashdex have submitted applications for a Spot Ethereum ETF. Additionally, the regulatory agency has fixed a new deadline for Grayscale’s Ethereum Spot ETF to January 25.  TD Cowen's predictions align with the SEC’s typical cautionary approach towards cryptocurrency-related investment products. The investment bank has disclosed that the regulator may delay ETH Spot ETFs until it accumulates sufficient knowledge and experience from its previously approved Bitcoin Spot ETFs. The bank estimates that while the delay may not take as long as 26 months, it is likely to persist beyond the upcoming elections. Similarly, Scott Me... read More



ECB Member Isabel Schnabel: Bitcoin Is 'Speculative,''Unlikely' to Be Pu...

    Isabel Schnabel, member of the European Central Bank (ECB) executive board, has blasted bitcoin's characteristics, stressing that it is a speculative asset unlike central bank digital currencies (CBDC) like the proposed digital euro. Schnabel stressed it was 'unlikely' that the ECB would ever start buying bitcoin as part of its balance sheet. ECB's Schnabel: 'The ECB Is Very Unlikely to Ever Buy Bitcoin' Isabel Schnabel, executive board member of the European Central Bank (ECB), blasted bitcoin's properties, stating that it lacked the functions of money. In a recent Q&A session where X users could send questions, Schnabel presented central bank digital currencies (CBDCs) as a solid alternative to digital private money, criticizing bitcoin as an unreliable asset. When asked if she believed bitcoin was better than the digital euro, the European Union's CBDC currency, Schnabel answered: The digital euro is public money issued directly by the European Central Bank. Bitcoin is different – it is a speculative asset that does not fulfill the characteristics of money. Schnabel stressed that the advantages that the digital euro would bring over today's digital fiat currencies had to do with the possibility of converting private money to public money. Schnabel stressed that a digital euro, promoted as the digital alternative for cash and not its substitute, would strengthen trust in the European currency. Also, when asked about the possibility of buying bitcoin as par... read More



Nigerian Stablecoin Consortium Seeks Central Bank Approval After Making ...

    The Nigerian stablecoin consortium has said it will not be launching a stablecoin in late February as previously advised. Instead, the consortium, which is comprised of banks and fintech startups, said it plans to launch the stablecoin only after it gets the green light from the central bank.Nigerian Stablecoin Project in False Start The Africa Stablecoin Consortium (ASC), a group of Nigerian fintech startups and banks, said on Jan. 9 that it will not proceed with the stablecoin launch as previously announced. Instead, the consortium will engage the central bank so it can 'participate in its regulatory sandbox program.' This about-face by the Nigerian consortium comes just a few days after it released a statement in which it named Feb. 27 as the cNGN stablecoin launch date. As reported by several media outlets, including Bitcoin.com News, the ASC claimed that the Central Bank of Nigeria (CBN) had approved its plan to launch the stablecoin. Stablecoin Project Not Approved by Central Bank The consortium suggested that the naira-backed digital currency would also 'pave the way for further advancements in CBDC.' However, in its latest statement, the ASC implied that the CBN is yet to greenlight the stablecoin project: 'The Africa Stablecoin Consortium wishes to clarify that cNGN will not be publicly launched on the 27th of February, 2024. Instead, we are engaging with the appropriate regulatory bodies, including the Central Bank of Nigeria, to participate in its regulatory sandb... read More



Global Mega Bank Standard Chartered Releases Bullish Forecast For Spot B...

    Standard Chartered Bank is the latest to give its predictions on the impact Spot Bitcoin ETFs could have on Bitcoin’s price in the long term. The bank took a bullish stance as they predicted that BTC could rise to unprecedented heights by the end of 2025.  Bitcoin Could Hit $200,000 By End Of 2024 According to a report by Standard Chartered shared on the X (formerly Twitter) platform, BTC's price could reach $200,000 by end-2025. There is the potential for Bitcoin to hit this price level with $50 to $100 billion flowing into the Spot Bitcoin ETFs, says the bank’s Head of Digital Assets Research Geoff Kendrick and Precious Metal Analyst Suki Cooper. Their projections stem from the fact that an approval of these Spot Bitcoin ETFs could happen as soon as this week. If that happens, Kendrick and Cooper state that will be a key driver of Bitcoin’s price to the upside, something similar to what happened with Gold ETPs. Interestingly, Standard Chartered predicts that BTC could hit $100,000 before this year runs out.  Elaborating on BTC enjoying similar gains to Gold (when Gold ETPs were approved), the bank expects that such gains will materialize over a shorter period for the flagship crypto token. This is based on their view that the Spot BTC ETF market will develop quicker than the Gold ETPs did.  The amount of inflows that these Spot Bitcoin ETFs could witness has continued to be up for debate. Crypto research firm Galaxy Digital took a more cons... read More



Bank of Spain Announces Partners for Wholesale CBDC Trials

    The Bank of Spain has announced that Adhara, a treasury and transactions payment platform, and a consortium formed by Cecabank and Abanca, two private banks, will be its partners in the development of several upcoming wholesale central bank digital currency (CBDC) trials, which will be complete outside of the ongoing digital euro process. Bank of Spain Announces Wholesale CBDC Trial Partners The Bank of Spain is moving to test a wholesale central bank digital currency (CBDC) in partnership with two tech partners. The bank recently announced that it enlisted the aid of Adhara, a Web3 company, and a consortium of two national banks, Cecabank and Abanca, to design and test different platforms involving a wholesale CBDC. In a document, the Bank of Spain describes that Adhara will work in 'the simulation of achieving interbank payments both with the same tokenized wholesale CBDC and with several wholesale CBDCs issued by different central banks.' To this end, Adhara needs to develop several CBDC infrastructures to provide wallets to the involved entities and a digital interbank payments platform. In the case of the Abanca-Cecabank consortium, the trials will be centered around 'testing the integration of a wholesale CBDC with the settlement of financial assets and providing practical evidence about the possible advantages and disadvantages of the introduction of a wholesale CBDC compared to traditional processes, procedures, and infrastructures.' This comprises the issuance,... read More



An In-Depth Look Into the 2023 Banking Crisis — 3 of the Largest B...

    The U.S. economy experienced an interesting year in 2023, marked by unprecedented upheaval within the American banking sector due to the combined collapse of three major banks, the largest the nation has historically seen. Amidst this chaos, crypto assets such as bitcoin demonstrated remarkable resilience, even capitalizing on the banking sector's misfortunes. Concurrently, other repercussions unfolded, including the de-pegging of the second-largest stablecoin, managed by Circle, following the disclosure of difficulties in retrieving $3.3 billion from the now-insolvent Silicon Valley Bank (SVB).The Triple Shock of U.S. History's Largest Bank Failures In 2023, the U.S. witnessed the second, third, and fourth largest bank failures in its history, culminating in the failure of four significant institutions: Silvergate Bank, Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank. The cascade of collapses began with Silvergate Bank, which set off a chain reaction with its voluntary liquidation announcement on March 8, 2023. Known for its cryptocurrency-friendly services, Silvergate's fall was partly attributed to an investigation by the U.S. Department of Justice (DOJ) into its connections with the fallen crypto exchange FTX and the quantitative trading firm Alameda Research. Silvergate's collapse may not rank among the most substantial, with reported losses of $1 billion, yet it started the sequence leading to the downfall of Silicon Valley Bank (SVB) and others. SVB ... read More



Nigerian Central Bank Lifts Ban Restricting Banks From Servicing Crypto ...

    The Central Bank of Nigeria (CBN) has lifted a ban preventing banks from operating accounts for cryptocurrency service providers in the country. According to a December 22 circular sent to banks, the affected financial institutions can now open accounts for Virtual Assets Service Providers (VASPs) registered with the Securities and Exchange Commission (SEC) in line with stringent know-your-customer (KYC) and anti-money laundering checks. CBN Eases Crypto Ban In February 2021, the CBN imposed a ban on crypto trading activities, ordering a closure of related bank accounts. The ban was a follow-up to earlier warnings against the use of unregulated cryptocurrencies and the place of such assets in facilitating money laundering and financing terrorism. The central bank sought to mitigate risks and vulnerabilities that abounded in the absence of regulations and consumer protection measures. The ban has disrupted Nigeria's fast-growing crypto market for the past two years, as users have encountered difficulties buying and selling their assets. However, the CBN has realized the need to regulate the activities of VASPs as current global trends show the mass recognition and adoption of crypto assets. To this effect, the central bank has issued guidelines to establish complaint relationships between banks and VASPs. 'In view of the foregoing, the CBN hereby issues this Guidelines to provide guidance to financial institutions under its regulatory purview in respect of their banking r... read More



Nigerian Central Bank Lifts February 2021 Crypto Prohibition Order

    The Nigerian central bank has reversed its Feb. 5 order which barred banks and financial institutions from extending their services to crypto entities. The central bank said new guidelines align with the Financial Action Task Force's updated recommendation 15, which calls for the regulation of virtual asset service providers.Guidelines Align With FATF's Recommendation On Dec. 22, the Central Bank of Nigeria (CBN) announced that it had rescinded an order that prohibited banks from servicing the crypto industry. In its newly issued guidelines on the operation of bank accounts for virtual asset service providers (VASPs), the central bank stated that the order also supersedes the Jan. 12, 2017 prohibition. As previously reported by Bitcoin.com News, the CBN's Feb. 5, 2021 prohibition order specifically requested that Nigerian financial institutions exclude crypto entities from the banking ecosystem. Under then-governor Godwin Emefiele, the central bank actively enforced the order and this resulted in many bank accounts linked to crypto being closed. However, in the circular which explains the rationale for abandoning the prohibition order, the CBN said the decision aligns Nigeria’s regulations with global trends. The circular also cites the Financial Action Task Force (FATF)'s updated recommendation 15 as one of the reasons for the central bank's changed stance. 'Current global trends have shown that there is a need to regulate the activities of virtual asset service provid... read More



Ripple Registered With Central Bank of Ireland

    Ripple is now registered as a virtual asset service provider with the Central Bank of Ireland. The company explained that it will 'seek to provide services to clients across the European Economic Area once the Markets in Crypto Assets Regulation (MiCA) comes into force at the end of 2024, subject to the acquisition of other necessary licenses.'Ripple Now Registered in Ireland Ripple announced Tuesday that the Central Bank of Ireland (CBI) has added its Irish subsidiary Ripple Markets Ireland Ltd. to its list of registered virtual asset service providers (VASPs). The regulator's website states that companies are registered for anti-money laundering and countering the financing of terrorism purposes under Section 106A of the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021. The announcement details: Following the registration, Ripple will seek to provide services to clients across the European Economic Area once the Markets in Crypto Assets Regulation (MiCA) comes into force at the end of 2024, subject to the acquisition of other necessary licences. The crypto firm established its Dublin office in 2022. Ripple explained that Ireland has a growing reputation as an attractive location for companies involved in developing innovative technologies for financial services. Eric van Miltenburg, Ripple's senior vice president for Strategic Initiatives, commented: 'Ireland has positioned itself as a supportive jurisdiction for the virtual assets industry and ... read More



Bank of China Completes First Precious Metal Digital Yuan Settlement

    The Shanghai branch of the Bank of China has completed the first settlement of precious metals using the digital yuan. The transaction, finalized on December 19, allowed the Shanghai Gold Exchange to close a $14 million precious metal trade after receiving the funds overseas, according to local media reports. Bank of China Completes First Cross Borders Precious Gold Transaction With Digital Yuan The Shanghai branch of the Bank of China announced that it has completed the first precious metal settlement using the digital yuan, the Chinese central bank digital currency (CBDC). The bank worked closely with the Shanghai Gold Exchange to transact the funds received overseas with the digital yuan. The transaction involved paying $14 million in exchange for undisclosed precious metals. According to local media, this would be the first time the Chinese digital yuan is used to complete a fine metal transaction. A spokesperson for the Shanghai branch of the Bank of China stressed the relevance of this trade to set up Shanghai as an international financial hub. He stated: The account will contribute financial strength to support Shanghai’s in-depth implementation of the free trade pilot zone promotion strategy and promote the quality and upgrading of the international trade center. This is the second milestone the Bank of China has reached using the digital yuan this month. On Dec. 14, the bank facilitated a transaction between its Shanghai and Hong Kong branches, facil... read More



Major Ripple (XRP) Development: Bank of Ireland With an Important Greenl...

    TL;DR Ripple Registered with Ireland's Central Bank: Ripple Markets Ireland Limited has been added to the Central Bank of Ireland's list of Virtual Asset Service Providers, enabling Ripple to offer digital asset services in Ireland. European Expansion Plans: With this new registration, Ripple is positioned to expand services across the European Economic Area, particularly after the Markets in Crypto Assets Regulation takes effect in late 2024. Ripple's Presence in the U.S.: Ripple maintains its US presence, recently moving to a new office in San Francisco, amidst an ongoing legal battle with the US Securities and Exchange Commission. The blockchain enterprise - Ripple - and its surrounding developments have been among the most intriguing topics for crypto participants in the past several months. Most recently, the company announced another big news that might capture people's attention. Specifically, the Central Bank of Ireland (CBI) added Ripple Markets Ireland Limited (Ripple Markets) to its list of registered Virtual Asset Service Providers (VASPs). Following the initiative, the blockchain firm will be able to provide certain digital asset services within the island nation. It will also seek to reach clients across the European Economic Area once the Markets in Crypto Assets Regulation (MiCA) comes into effect (scheduled for the end of 2024). Ripple has already established a solid base in Ireland, opening an office in the capital, Dublin, last year. It also hi... read More



Report: Bank of Korea Chief Says Growing Use of Stablecoins Threatens Ce...

    The Bank of Korea governor Rhee Chang-yong recently stated that the growing stablecoin use threatens the operations of central banks. The possible involvement of global networks like Visa and Mastercard in the stablecoin business will likely undermine the monetary independence of countries like South Korea. Central Banks Urged to Prepare for Digitization The growing use of stablecoins like USDT and USDC is posing a new threat to the operations of central banks and may be making monetary policies less effective, according to Rhee Chang-yong, the governor of the Bank of Korea. Speaking at a recent digital money conference, Chang-yong urged central banks to prepare for digitization if they wish to keep abreast with the fast-changing financial landscape. A Yonhap report states that the BOK governor believes global networks such as Visa and Mastercard's likely involvement with stablecoins will undermine countries like South Korea's monetary independence. Therefore, to stop stablecoins from wreaking havoc on his country's capital inflows, Chang-yong proposed launching central bank digital currencies (CBDCs). 'This underscores the urgency for central banks to consider introducing central bank digital currencies (CBDC), whether retail or wholesale,' the BOK governor reportedly said. While he conceded that retail CBDCs may have no clear advantage over regular payment methods, Chang-yong insisted that their programmability feature allows such digital currencies to bring with them 'a r... read More



Central Bank of Brazil Opens Public Consultation on Virtual Assets Servi...

    The Central Bank of Brazil opened a new public consultation to obtain feedback for regulating the operations of virtual assets service providers (VASPs) in the country. The bank organized a questionnaire of 38 questions divided into different themes that can be partially, or fully answered until January 31, 2024. Central Bank of Brazil Seeks Input on VASP Regulation The Central Bank of Brazil is preparing to finally issue rules for Virtual Assets Service Providers (VASPs) operating in the country. The institution opened a public consultation seeking input from market participants and individuals to prepare the rules VASPs would have to follow, according to the faculties it received since the approval and sanction of the cryptocurrency assets law in December 2023. The bank introduced a 38-item questionnaire that can be answered totally or partially, indicating the numbers and themes respondents want to address in their statements. Each question is part of a broader subject of the public consultation, including areas such as asset segregation and risk management, activities developed and virtual assets traded, hiring essential services, governance and conduct rules, cyber ??security, providing information and protecting customers, transition rules, and general manifestations. The issue of asset segregation has significance, given that it was initially proposed to be part of the final text of the approved cryptocurrency assets law, but was finally left out due to the limi... read More



Bank Of China Completes First Cross-Border Digital Yuan Commodities Trad...

    The Bank of China Hong Kong, the second largest bank in the region, has completed its first cross-border digital yuan-based trade. The transaction, finalized with its sibling bank, the Bank of China, served to receive the payment for an imported iron ore commodity bulk trade, establishing the digital yuan as an option for this kind of settlement. Bank of China Settles $3.4 Million in Bulk Commodities Using the Digital Yuan The Bank of China has opened the path for companies to settle their cross-border payments using the Chinese central bank digital currency (CBDC), the digital yuan. The Hong Kong branch of the bank, the second-largest financial institution in the region, has achieved a milestone in serving as an intermediary for the settlement of a $3.4 million bulk commodity payment between Baosteel group, a steel and iron powerhouse, and Bao-trans Enterprises, a manufacturer of premium steel products. The Hong Kong subsidiary and its mainland-based branch set up digital yuan wallets to support this transaction, receiving the funds in the name of Bao-trans Enterprises as a payment for an order of imported iron ore. According to local press reports, this is the first time the financial institution has acted as an intermediary for a commodity bulk settlement using the digital yuan. Xing Guiwei, Bank of China Hong Kong deputy chief executive, praised the virtues of the Chinese CBDC in this kind of application. For Guiwei, the digital yuan can also be leveraged for the in... read More



Nigerian Central Bank Warns Counterfeiters as Residents Reportedly Grapp...

    As Nigeria grapples with cash shortages, the country's central bank warned of the presence of counterfeit, higher-denomination naira banknotes. The bank has urged members of the public to report anyone suspected of falsifying or counterfeiting the banknotes. Central Bank Collaborates With Nigerian Agencies The Central Bank of Nigeria (CBN) has issued a warning to residents of the West African nation to be on the lookout for counterfeit naira banknotes that are circulating 'in food markets and other commercial centres across major cities in the country.' The bank has warned that individuals caught falsifying or counterfeiting the banknotes face a prison term of no less than five years. Press Release: Beware of Counterfeit Naira Banknotes in Circulation. pic.twitter.com/CWxGDyiSmZ — Central Bank of Nigeria (@cenbank) December 8, 2023 The CBN’s confirmation of the presence of counterfeit naira banknotes comes as Nigerians grapple with cash shortages. According to a Techeconomy report, which has now been taken down, Nigerians in different parts of the country are having to contend with ATMs that are not dispensing cash. The central bank, however, insists that there are no shortages and has identified panic withdrawals by some members of the public as the cause of the artificial shortages. Meanwhile, in its Dec. 8 post on X, the Nigerian central bank revealed that it is working in concert with relevant security and financial agencies to seize the fake banknotes. The... read More



Bank of Russia States Digital Ruble Pilot Will Continue Until the End of...

    The Bank of Russia has offered an update on the future of the digital ruble pilot, the Russian central bank digital currency (CBDC). The bank's press service clarified that the pilot will continue throughout 2024 and until the massification of the digital ruble usage, estimated to happen in 2025. Digital Ruble Pilot to Run Indefinitely Until Its Launch The Bank of Russia updated the public on the future of the pilot of the digital ruble, the Russian central bank digital currency (CBDC). The institution clarified that the pilot project will continue until at least the end of 2024 and until the final massification and launch of the currency. According to TASS, a Russian state-owned news outlet, the bank stated: The pilot will continue at least until the end of 2024 and, if necessary, will be extended. Only after the completion of the pilot will the digital ruble be introduced into mass circulation. Also, the bank reiterated that the current pilot operations, which started on August 15, included only 13 banks and were limited, involving only an undetermined number of clients. However, the organization revealed that it is ready to expand the scope of this pilot in 2024, adding more members and use cases. The bank also clarified that the currency design featured zero fees for any operation made by individual customers, including opening and replenishing digital wallets, paying for purchases and services, and completing transfers. 'This will allow citizens not to depend... read More



Standard Chartered Bank Bullish on Bitcoin, Predicts Rise To $100,000 By...

    Bitcoin has continued to make waves in the crypto sector as analysts release predictions ahead of major events. One of such predictions is the latest by Standard Chartered Bank. On the other hand, Meme Moguls have achieved an impressive influx of users, setting new records and igniting excitement in their rise. >> Can You Predict The Next Big Meme Coin? Become A Meme Mogul Today read More



Brazil's Largest Bank Ventures into Bitcoin, Ethereum Trading: Report

    Itau Unibanco, Brazil's largest bank, has officially entered the cryptocurrency exchange market, launching a trading service for its investment platform clients. The service debuted on Monday and enables users to trade Bitcoin and Ether, the two most popular cryptocurrencies. Itau Expands Crypto Trading with Diverse Portfolio According to a Reuters report, Guto Antunes, the head of digital assets at Itau, revealed that the bank plans to expand its offerings to include other cryptocurrencies in the future. 'Our strategic plan is to broaden our crypto assets portfolio, keeping a close eye on the country's regulatory framework for cryptocurrencies,' Antunes stated. Itau Unibanco's venture into crypto trading positions it as a direct competitor to local crypto exchanges like MB and BTG Pactual's Mynt, as well as international giants such as Binance. Antunes emphasized that Itau's unique selling proposition lies in its dual role as a trading platform and a custodian, ensuring enhanced security for users' digital assets. This launch comes at a critical time, following the withdrawal of two local players from the crypto market. XP, a brokerage and investment firm, and PicPay, a financial services entity owned by J&F, recently exited the crypto space. XP did not specify a reason for discontinuing its crypto services. On the other hand, PicPay explicitly attributed its exit to regulatory uncertainties. Itau Unibanco's Ventures in the Digital Asset Space Beyond cryptocurrency trading, ... read More



We Neither Bank Justin Sun nor Finance Hamas — Circle Chief Strate...

    USDC stablecoin issuer Circle neither 'finances Hamas' nor does it bank Tron blockchain founder Justin Sun, the fintech firm's chief strategy officer has asserted. Although Circle had past business dealings with Sun, this ended in February 2023 when it terminated his accounts and those of affiliated companies. Circle Subject to 'Multiple Regulatory Regimes' Circle, the issuer of the USDC stablecoin, has rejected allegations that it finances Hamas directly or indirectly, nor does it bank Tron blockchain founder Justin Sun. In a fiery open letter, Circle’s Chief Strategy Officer (CSO) Dante Disparte said his organization is 'subject to multiple regulatory regimes' and the applicable anti-money laundering and terror funding laws. In his formal letter addressed to U.S Senators Sherrod Brown and Elizabeth Warren, Disparte suggested that Circle felt obligated to respond to a Nov. 9 letter sent to the two politicians by the Campaign for Accountability. The letter reportedly detailed Circle’s close ties with Sun and Tron’s alleged financing of Hamas, Hezbollah, and the Palestinian Islamic Jihad. In his pushback against Campaign for Accountability’s 'false claims,' the Circle CSO referenced his organization’s long history in combating illicit finance activities as well as its partnership with law enforcement agencies. Disparte also addressed claims that the USDC stablecoin was among $93 million in digital currencies that had been marked for seizure by Isr... read More



Canadians Are 'Largely Opposed' To A CBDC, Says Bank Of Canada

    Canadians are overwhelmingly opposed to their central bank researching and issuing a digital loonie, according to newly released survey results from the Bank of Canada. The report found that citizens and stakeholders are worried that the technology could violate their financial privacy, and wouldn't be their payment method of choice compared to existing options. Why Canadians Don’t Like CBDCs Released on Wednesday, the report dissected results from a public consultation on CBDCs open to all Canadians between May 8 and June 19, 2023. It gathered 89,424 responses from Canadians of all provinces and income levels. “A vast majority of respondents (85%) say that they would not use a digital Canadian dollar,” the report stated. An even greater majority of 92% said they’d prefer sticking to existing payment methods, like cash or cards. The preference had little to do with crypto experience: while more likely than the average participant, only 14% of respondents who already hold cryptocurrencies said they’d prefer a digital dollar to alternative schemes. Besides its perceived redundancy, 19% of respondents claimed that a CBDC would give the government “too much control.” Furthermore, 15% said that privacy would be jeopardized with its launch, while another 15% thought it would create a “loss of individual choice.” In fact, most respondents expressed concerns that the government was attempting to phase out cash, with 86% calling fo... read More



Singapore's Central Bank Predicts the Demise of Private Crypto

    Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), has predicted the fate of private digital coins, including native digital tokens, in the future monetary system. Speaking at a November 28 panel discussion jointly hosted by the Hong Kong Monetary Authority and the Bank for International Settlements, Menon declared that private cryptocurrencies would eventually fade from the monetary scene, citing their failure to meet essential financial service tests. Menon Critiques Private Crypto According to Menon, private digital currencies have failed the fundamental test of money due to their inability to maintain consistent value. He pointed out that these cryptocurrencies are often used for quick financial gains rather than long-term savings, marking them as unreliable and unstable for inclusion in the future monetary framework. Menon envisions a monetary system composed of three main elements: Central bank digital currencies (CBDCs), tokenized bank liabilities, and well-regulated stablecoins. He emphasized the potential of stablecoins, particularly those fully backed by high-quality government securities or cash. He also believes these stablecoins could function as narrow money, providing stability and reliability. Menon's remarks align with Singapore's recent regulatory actions targeting stablecoins. In mid-November 2023, MAS unveiled a regulatory framework for single-currency stablecoins, focusing on value stability, capital, redemption at par, and di... read More



Standard Chartered Bank Begins Offering Digital Yuan Exchange Services i...

    Standard Chartered Bank (China) has become one of the first foreign banks to participate in China's central bank digital currency (CBDC) pilot. The bank explained that as an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of the digital yuan. Standard Chartered Participates in Digital Yuan Pilot Standard Chartered Bank (China) Ltd. announced Monday that it has started offering digital yuan exchange services to customers and become one of the first foreign banks to participate in China's central bank digital currency (CBDC), digital renminbi (RMB), business pilot. Standard Chartered is one of the oldest and most established foreign banks in China. Zhang Xiaolei, CEO of Standard Chartered Bank (China), commented: We are very pleased to participate in the pilot of digital RMB business as one of the first foreign banks. The bank explained that it will access the digital renminbi interconnection platform through City Bank Clearing Services. People’s Bank of China (PBOC) Governor Yi Gang disclosed in July that transactions utilizing China’s central bank digital currency, also called e-CNY, reached 1.8 trillion yuan ($250 billion) at the end of June. Zhang explained that as an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of the digital yuan. The executive further shared that the bank anticipates ongoing expansi... read More



Economist Steve Hanke: US Dollar Weaponization Has Powered Record Centra...

    Steve Hanke, professor of applied economics at Johns Hopkins University, has discussed how U.S. policies have driven central bank gold purchases to record levels this year. In an interview, Hanke stated that these purchases were motivated by the weaponization of fiat currencies like the dollar, which has driven countries in 'de-dollarization mode' to take refuge in gold. Steve Hanke Believes Rise in Central Bank Gold Purchases Has to Do With U.S. Dollar Weaponization Professor of Applied Economics at Johns Hopkins University Steve Hanke, a Bitcoin critic and dollarization proponent, has given his take on the return of gold as a reserve currency for central banks. In a recent interview on Jesse Day's Commodity Culture, Hanke revealed his position about the future of gold as a reserve asset and how U.S. policies have influenced a rise in central bank gold purchases. Hanke believes that the recent rise in U.S. sanctions, the weaponization of the U.S. dollar, and a climate of uncertainty have caused central banks to purchase gold at record levels. He explained: You never exactly know what these central banks are going to do, but the trend right now is a lot of central bank buying, and the reason behind this is that there is a lot of uncertainty, everything has become more politicized in the realm of fiat money. As a result, central banks that had not been players in the gold market have now risen as significant buyers, more so those that are in what Hanke calls 'de-doll... read More



Latam Insights: Milei Wins Runoff Election, Vows to Eliminate Central Ba...

    Welcome to Latam Insights, a compendium of Latin America's most relevant crypto and economic news during the last week. In this issue: Libertarian Javier Milei wins the runoff election in Argentina, reinforcing his intention of eliminating the central bank. Also, the digital real may encourage the tokenization of assets in Brazil, and the Brazilian senate could approve a bill to tax cryptocurrency purchases using foreign brokers. Javier Milei Wins Runoff Election, Reaffirms Intention of Ending the Central Bank in Argentina Libertarian Javier Milei has become president-elect of Argentina after defeating current Economy Minister Sergio Massa in a runoff election last week, obtaining 56% of the popular vote. Milei's campaign includes proposals to make the state leaner by eliminating a significant chunk of the ministries and the Central Bank of Argentina, which he considers a 'scam.' These actions will also involve the dollarization of the country, a measure focused on reining in the country's inflation, which has registered yearly numbers of over 140%. After being elected, Milei's office issued a statement clarifying that he was committed to closing the central bank after rumors indicated he had changed his stance. Milei's office explained: Given the false rumors spread, we wish to clarify that the closure of the Central Bank of the Argentine Republic is not a negotiable matter. President of the Central Bank of Brazil: Digital Real to Bring New Business Models Roberto... read More



Major Bank to Launch Crypto Trading Services for Retail Customers: Repor...

    Austria's Raiffeisen Bank International announced its plan to offer cryptocurrency trading services to its retail customers. This pioneering step will commence by the end of January 2024, marking a new era in the bank's 97-year history. Raiffeisen Bank to Launch User-Friendly Crypto Trading Services Austria's Raiffeisen Bank, headquartered in Vienna, has announced its plan to offer crypto trading services to its retail customers throughout the European Union and Eastern Europe. The launch of these services is set for January 2024 and will be offered in collaboration with the crypto exchange Bitpanda. The initial rollout will be in Vienna, home to approximately a quarter of Austria's population. Curt Chadha, the Head of Innovation at Raiffeisen Bank, highlighted the user-friendliness of the new service, stating, 'The customer can use their mobile device to enter Bitpanda through the Raiffeisen app. The experience will be familiar, so confirming a trade will work exactly like an account-to-account bank transfer with the same security customers are used to.' Raiffeisen Bank, with assets totaling around $215 billion and serving 17.8 million customers across the European Union and Eastern Europe, sees this step as a chance to meet the needs of a tech-savvy demographic looking for secure and diverse investment options. This group includes customers keen on making smaller investments in digital currencies instead of larger investments usually associated with wealthier individuals. P... read More



Ghana's Central Bank Names Eight Money Transfer Companies Operating With...

    The Bank of Ghana recently pointed the finger at eight money transfer organizations which are allegedly operating in Ghana's remittances and forex market without its approval. The central bank also warned the public and regulated financial institutions against having dealings with the eight firms. Eight Firms Did Not Adhere to the Requirements of the Foreign Exchange Act The Ghanaian central bank has identified eight money transfer organizations (MTOs) that are operating in the country’s remittances and forex markets without its approval. In a notice issued on Nov. 16, the Bank of Ghana (BOG) also warned the public and regulated financial institutions against having dealings with said MTOs. According to the notice, the eight MTOs are Lemfi, Wise, Transfer Go, Xoom-A Paypal Service, Sendvalu, Boss Revolution, BTC-AZA Finance, and Supersonicz. The notice said each of the above MTOs is violating Section 3.1 of the Foreign Exchange Act, 2006 (Act 723). This law states that no person should 'engage in the business of dealing in foreign exchange without a licence issued under this Act.' Furthermore, section 15.3 of the same law specifically states that any movement of foreign exchange to and from Ghana should be done by persons with the requisite licenses. The central bank also reminded approved MTOs that they should adhere to the requirements of their respective licenses at all times. 'Approved MTOs are hereby reminded to terminate their foreign exchange flows through their ... read More



Dutch Central Bank Director Props Up Gold for Financial Collapse Scenari...

    Aerdt Houben, Director of Financial Markets for the Dutch Central Bank (DNB), has talked about the value gold could have in a financial collapse scenario. As the bank has been recently increasing its gold holdings, Houben stated that due to its properties, gold might serve as a hedge in the case of a worldwide economic disaster. DNB Acknowledges Gold's Importance for Central Banks Aerdt Houben, Director of Financial Markets for the Dutch Central Bank (DNB), has talked about the rise in gold holdings of the bank and how he believes that gold can be used as a backstop in the case of a financial collapse scenario. In a recent interview, Houben acknowledged that the Netherlands has recently increased its gold holdings, as have other European central banks. Houben explained that the central bank currently holds 612 tonnes of gold, worth around 35 billion euros ($38.2 billion), and that these holdings were diversified, with the bullion being located in the Federal Reserve, London, Canada, and the Netherlands. This represents 4% of the Netherlands' Gross Domestic Product (GDP), as the government holds the same percentage as countries like France, Germany, and Italy, ranking seventh in the top ten central bank gold holdings concerning GDP. Insurance Against Economic Collapse When asked if he considered that the Netherlands should have more gold as a kind of insurance for the country, Houben answered: I think it's more than enough, because if everything collapses, then the v... read More



People's Bank of China Tests Digital Yuan Payment Integration in Hong Ko...

    The People's Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are in the second phase of the integration tests of the digital yuan for payments and cross-border transactions in Hong Kong. This new phase includes more banks and the ability to use the Fast Payment System to top up digital yuan wallets. China and Hong Kong to Develop Digital Yuan Payment System Integrations The People's Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are conducting technical tests to bring a higher degree of integration of the digital yuan into Hong Kong's economy. According to reports from Global Times, the institutions are already in the second integration phase, which contemplates the inclusion of more banks in Hong Kong to the system and the usage of the Faster Payments system to top up digital yuan wallets. One of the companies that will be facilitating these operations is Octopus Cards Limited (OCL), a startup with high penetration in Hong Kong exploring 'new digital yuan application scenarios, with a view to benefitting both mainland visitors to Hong Kong and Hong Kong residents visiting the mainland,' the secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region (HKSAR) Christopher Hui Ching-yu stated. Hong Kong as an International Finance Hub The integration of the Chinese central bank digital currency (CBDC) in the Hong Kong economy seeks to position the area as an international finance hub, as countries tha... read More



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