November 23, 6:30 am
|Brazilian Exchange Bitpreco to Expand to Banking Services; Bets on Cashb...|
Bitpreco, a Brazilian cryptocurrency exchange, has decided to extend its functionality to offer banking services through a new platform called Bitybank. The company, which will also open payment and digital account services, plans to attract users to crypto through cashback programs that counter the fears of users purchasing cryptocurrencies in today's uncertain market.
Bitpreco to Launch Banking Services Through Bitybank
While several traditional banking institutions are now offering or considering offering cryptocurrency-related services in Brazil, crypto-centric applications are also seeking to include traditional financial instruments in their services portfolio. Bitpreco, a Brazilian exchange, is now expanding its services to offer banking functions. The company is one of the largest in Brazil, accounting for 13% of all bitcoin transactions in the last three months.
Ney Pimenta, one of the partners at Bitpreco, explained that these new services, which will include payments, digital accounts, and even credit cards, will be offered through a new app called Bitybank. The objective of this inclusion is to drive more users to crypto through the offering of less niche-oriented services. On this, Pimenta explained:
Digital banking was a great success in Brazil. It is an extre...
November 12, 9:30 pm
|Russia's Digital Ruble Integrated Into Banking App|
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials.VTB’s Mobile App to Support Digital Ruble Transfers and Payments
VTB Bank ...
October 03, 9:30 am
|Bank of Russia Adds Digital Assets to Banking Chart of Accounts|
Central Bank of Russia has introduced digital assets, including the digital version of the Russian ruble, to the recently published draft of the new banking chart of accounts. In the future, financial institutions will be able to provide data about operations with these assets.Russian Banks to Record Digital Currencies as Assets in Their Accounting...
October 03, 6:22 am
|Big Trouble for European Banking as Credit Suisse Flashes Warning Signs|
Credit Suisse is currently fighting for survival following months of rumors regarding its liquidity and capital position. According to reports over the weekend, a negative outcome for the Swiss banking giant could have similar repercussions to the Lehman Brothers fallout, which triggered the 2008 financial crisis.
On Oct. 2, Reuters reported that b...
September 21, 11:05 pm
|Japanese Banking Heavyweight Nomura to Launch Crypto-Focused Venture Cap...|
On Wednesday, the Japanese financial holding company and principal member of the Nomura Group, Nomura Holdings, announced the launch of a crypto-focused venture capital unit called Laser Digital Holdings. Nomura's move follows a number of financial giants entering the cryptocurrency industry this year.Nomura Introduces Laser Digital Holdings
September 16, 2:30 am
|HSBC's CEO Explains Why Crypto Is Not in the Banking Giant's Future|
Banking giant HSBC will not be offering crypto services, according to CEO Noel Quinn. Noting that HSBC is more negative on crypto than other banks, the executive stressed: 'I do worry about the sustainability of the valuations of crypto.'HSBC Will Not Get Into Crypto, CEO Says
The chief executive of HSBC, Noel Quinn, talked about his bank's cryptoc...
August 19, 6:30 am
|South African Banking Regulator: 'De-risking' Crypto Firms Potentially C...|
According to the latest guidance note issued by the South African banking sector regulator, Prudential Authority, risk assessment does not mean financial institutions should avoid or eliminate risks via the wholesale termination of client relationships with entities such as crypto asset service providers. Instead, the regulator wants financial inst...
June 18, 7:00 am
|Belgian Banking Group KBC Creates Blockchain-Based Coin|
KBC Group, a major European banking and insurance institution headquartered in Belgium, has launched a token based on a blockchain platform. Its customers will be able to acquire the new proprietary coins and use them through their KBC wallet and mobile app.KBC Issues Digital Coin for Clients and Partners
KBC, the Brussels-based financial group wit...
June 15, 10:03 pm
|CFTC Commissioner Compared Crypto Crash to 2008 Banking Crisis|
In an interview with Axios, Commodity Futures Trading Commission (CFTC) commissioner Christy Goldsmith Romero urged Congress to close the regulatory gap on cryptocurrencies. Responding to the recent plunge that has drained over $400 billion out of the crypto market within days, she said the unregulated sector shares similarities with some parts of ...
May 20, 8:01 am
|Australian Banking Giant Halts Crypto Trading Pilot Amid Regulatory Unce...|
Commonwealth Bank (CommBank), the largest bank in Australia, has reportedly suspended its planned in-app cryptocurrency trading pilot without setting a new timeframe for when it would resume the service.
CommBank Pauses Crypto Services at Pilot Phase
According to the Guardian Australia, on Thursday (May 19, 2022), Matt Comyn, the chief executive of...
May 15, 9:30 am
|Report: Central African Banking Regulator Says Crypto Ban Still Effectiv...|
An African regulator has told members of the six-nation Economic and Monetary Community of Central Africa (CEMAC) that a ban on cryptocurrencies is still effective. The regulator said the prohibition is designed to ensure financial stability is maintained within the economic bloc. COBAC to Set Up System to Identify Crypto Transactions
An African re...
May 12, 8:03 pm
|Brazilian Digital Banking Giant Partners With Paxos to Offer Crypto Serv...|
São Paulo-based Nubank, Latin America's largest digital bank, has signed a partnership deal with blockchain infrastructure platform Paxos to support cryptocurrency trading services within its banking app.
Nubank Supports Direct Bitcoin and Ether Trading
In a press release on Wednesday (May 11, 2022), Nubank said its customers will be able to...
April 26, 2:33 pm
|hi: A Next-Gen Crypto Exchange and Mobile Banking Platform|
When Satoshi Nakamoto created Bitcoin, he had one thing in mind - to revolutionize existing financial systems using a cheap and fast, trustless peer-to-peer electronic cash network that eliminates the need for intermediaries such as banks and other financial institutions.
It’s been more than a decade since the creation of the first known cryp...
April 02, 4:16 pm
|Metaverse May Be Worth $13 Trillion By 2030, US Banking Giant Citi Says|
Citi is the latest banking behemoth to give an optimistic forecast for the metaverse, which envisions the internet's future as a collection of decentralized technology and virtual environments.
According to the New York-headquartered global investment bank, the metaverse economy may be worth up to $13 trillion by 2030.
While some remain suspicious ...
April 01, 6:34 am
|$13 Trillion in Total Addressable Market for the Metaverse, Banking Gian...|
Citi has taken a deep dive into the virtual world in a March report titled “Metaverse and Money.” The banking giant has predicted an extremely bullish future for the Metaverse following a slew of high-profile firms signaling their intentions to enter online digital worlds in one way or another.
City predicted that the next evolution of ...
March 22, 10:50 pm
|FTX Invests $100 Million in Banking App, Forges Strategic Partnership|
FTX Ventures has invested $100 million in the public-traded banking app - Dave - which also announced forging a 'strategic partnership' with West Realm Shires Services, the operator of FTX US.
As part of the deal, the US crypto trading arm of billionaire Sam Bankman-Fried's exchange FTX will serve as Dave's exclusive partner for cryptocurrencies an...
March 13, 12:30 pm
|US Banking Giants Goldman Sachs and JPMorgan Wind Down Business in Russi...|
Global investment banks Goldman Sachs and JPMorgan Chase are winding down business in the Russian Federation. The move comes as western sanctions against Moscow over its decision to launch a military invasion of Ukraine continue to expand, supported by leading financial institutions.Goldman Sachs and JPMorgan Scale Down Russian Operations
March 05, 8:30 am
|Bank of Israel: Adoption of CBDC Will Not Materially Affect the Banking ...|
Israel's central bank says the public's adoption of the digital shekel is not expected 'to materially affect the banking system.' The bank, however, warns that any issuance of such digital currency will likely result in a decline of the volume of the public's deposits. Increase in the Banking System's Interest Expenses
Israel's central bank, the Ba...
February 23, 2:00 pm
|VAF Compliance Is a Forensic Service Provider That Can Help You Pass KYC...|
At VAF Compliance a team of experts is ready to help with all of your virtual assets compliance needs. Connect with VAF today; the leading virtual assets compliance company serving the Middle East and customers worldwide.
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The crypto, NFT and metaverse spaces are hot and buzzing, with innovative products launched almost daily...
February 17, 11:00 am
|Exotic Markets Founder Joffrey Dalet Talks Defi Banking, Structured Prod...|
Exotic Markets is a DeFi (Decentralized Finance) platform on the Solana Blockchain. It aims to become the most flexible structured products protocol, offering the widest range of payoffs and underlyings in DeFi. For example, it aims to offer payoffs based on baskets of tokens, trading ranges, accumulators, and capital preservation.
Joffrey Dalet is...
February 17, 5:40 am
|ADALend CEO Kaspars Koskins: “ $100M fine for BlockFi, Canada bank...|
Welcome to the second installment of our interview series with the ADALend CEO Kaspars Koskins. Recent events in the US and Canada have illustrated that Decentralized Finance is more important than ever before. ADALend is at the vanguard of this revolution in the lending industry by using blockchain technology to disintermediate the traditional mid...
February 16, 4:00 pm
|US Senate Banking Chief Criticizes Super Bowl Crypto Ads, Claims '...|
The United States senator from Ohio and Senate Banking Committee chief Sherrod Brown is not a fan of cryptocurrencies. This week during Tuesday's stablecoin hearing, Brown criticized all the cryptocurrency companies who advertised during the Super Bowl this past weekend and stressed that he's 'never seen the Federal Reserve buy a multimillion-dolla...
January 14, 11:00 am
|Revolut Launches Banking Services in Spain Featuring Deposit Insurance|
Revolut, a leading fintech platform and neobank, has received a special banking license to operate in Spain. User deposits are now insured up to €100K, with the coverage being provided by Deposit and Investment Insurance, a Lithuanian state company. The company, which now has over 800,000 customers in Spain, expects to grow its userbase with...