Government Cannot Stand in the Way of Crypto Technologies, Iran Minister Says

Central Bank of Sweden Invites Financial Market Actors for Second Phase of E-Krona Pilot

‘Chinese Invented Paper Money and They Will End It’- Brazil’s Far-Left Praises Digital Yuan  

Bank of Korea Seeking Technology to Develop Digital Currency

South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic cryptocurrency exchanges. Central Bank of Korea to Launch Pilot […]

Bank of Russia to Launch Digital Ruble Prototype by End of Year

The Central Bank of Russia (CBR) is preparing to release a digital prototype of the national fiat towards the end of 2021, a high-ranking official has confirmed. Transfers between private individuals will be free of charge with the digital ruble, which is going to have legal tender status on par with Russia’s traditional currency. Bank […]

China’s Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning

The People’s Bank of China’s upcoming digital yuan card will feature IDEX Biometrics and fingerprint scanning, according to regional reports. China’s “Digital Currency Electronic Payment†or DCEP is getting closer toward launch by the day. Last week, smart card manufacturer Chutian Dragon and IDEX Biometrics announced the companies are working on a digital yuan payments […]

Hundreds of Banks in US to Allow Customers to Buy, Sell, Hold Bitcoin Through Existing Bank Accounts

Hundreds of banks in the U.S. will reportedly start offering access to bitcoin to their customers this year, thanks to a partnership between Fidelity National Information Services and the New York Digital Investment Group. Hundreds of banks have enrolled to participate in the program as they see funds moving from bank accounts to crypto exchanges. […]

Hundreds of Banks in US to Allow Customers to Buy, Sell, Hold Bitcoin Through Existing Bank Accounts

Hundreds of banks in the U.S. will reportedly start offering access to bitcoin to their customers this year, thanks to a partnership between Fidelity National Information Services and the New York Digital Investment Group. Hundreds of banks have enrolled to participate in the program as they see funds moving from bank accounts to crypto exchanges. […]

Fed to Keep Rates Near Zero, Treasury Purchases to Continue, Powell Expects ‘Transitory’ Inflation

In a policy meeting on Wednesday, the U.S. Federal Reserve told the public that monetary easing will continue and the benchmark interest rate will be kept near zero. Just like previous statements from Federal Open Market Committee (FOMC) members, the committee within the central bank is not concerned about inflation and says that it should […]

America’s Fifth-Largest Banking Institution US Bank to Offer Cryptocurrency Custody

On April 27, the American bank holding company U.S. Bank revealed in a blog post that the financial institution plans to offer cryptocurrency custody services. The bank’s chief strategy officer for U.S. Bank Global Fund Services, Christine Waldron, says she is proud of her company’s steps toward blockchain and cryptocurrency practices. US Bank to Offer […]

Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies

The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk†and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has no appetite for dealing with these types of customers as Natwest is taking a “cautious approach†[…]

Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies

The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk†and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has no appetite for dealing with these types of customers as Natwest is taking a “cautious approach†[…]

JPMorgan Boss Says ‘Emerging Issues’ Like Cryptocurrencies ‘Need to Be Dealt With Quickly’

JPMorgan’s boss Jamie Dimon has a bone to pick with cryptocurrencies, shadow banking, and the financial technology (fintech) economy. In a letter to JPMorgan shareholders, Dimon explained that banks are “playing an increasingly smaller role in the financial system†and there’s a list of items like digital currencies he’s named that needs to be “dealt […]

JPMorgan Boss Says ‘Emerging Issues’ Like Cryptocurrencies ‘Need to Be Dealt With Quickly’

JPMorgan’s boss Jamie Dimon has a bone to pick with cryptocurrencies, shadow banking, and the financial technology (fintech) economy. In a letter to JPMorgan shareholders, Dimon explained that banks are “playing an increasingly smaller role in the financial system†and there’s a list of items like digital currencies he’s named that needs to be “dealt […]

Chinese Citizens Can Now Apply for the Digital Yuan Wallet Through 6 State-Owned Banks

Following the interview with Ma Changchun, the head of the People’s Bank of China-run Digital Currency Research Institute, a recent report indicates that residents from Beijing and Shanghai can now apply for a digital yuan wallet. According to the report, six different Chinese banks will participate in the process. Beijing and Shanghai Residents Can Apply […]

Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto Exchanges

The South Korean crypto frenzy among the banking industry remains on fire, as another major bank is treading waters to offer banking services for crypto exchanges. The BNK Busan Bank launched a program that consists of visiting competitors’ banks that already offer it. BNK Busan Is Visting Its Competitors to Conduct the Research According to […]

Stock Exchange SIX Aims to List Bitcoin on SDX, Crypto Trading Platform to Launch This Summer

On March 17, a report detailed that the digital exchange being developed by Switzerland’s principal stock exchange SIX is preparing to launch by the summer of 2021. The exchange called SIX Digital Exchange (SDX) reportedly will also offer bitcoin, alongside the possibility of non-fungible token (NFT) assets like tokenized works of art. SIX to Launch […]

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

The mainstream has caught a whiff of the gains cryptocurrencies like bitcoin and ethereum have seen, but many people are not aware of the passive income crypto users are getting as well. While financial incumbents are giving people with savings accounts a measly 0.35% to 0.60%, digital currencies can give people 1-17% or even more […]

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets

The mainstream has caught a whiff of the gains cryptocurrencies like bitcoin and ethereum have seen, but many people are not aware of the passive income crypto users are getting as well. While financial incumbents are giving people with savings accounts a measly 0.35% to 0.60%, digital currencies can give people 1-17% or even more […]

Major Malaysian Bank Kenanga Acquires 19% Stake in a Crypto Exchange

One of Malaysia’s top investment banks has bought a 19% stake in a local crypto exchange via its private equity arm. The Kenanga Investment Bank announced its inception into the crypto business by investing in Tokenize Xchange. Tokenize Xchange Is One of the Three Malaysian Licensed Crypto Exchanges Per the official announcement, the bank made […]

Major South Korean Bank Shinhan Is Set to Offer Crypto Custody-Related Services

A major commercial bank in South Korea is entering the crypto business by allocating an equity investment in the Korea Digital Asset Trust (KDAC). Shinhan Bank is looking to offer digital asset custody services. Bank Expects to Offer Tech Capabilities to Face Defi-Related Hacking Risks According to inews24, the bank announced the investment in the […]

Crypto Markets Jump on OCC Approval for Banks to Use Blockchains

Cryptocurrency prices jumped Monday evening as digital asset markets reacted positively to a letter published by the U.S. Office of the Comptroller of the Currency (OCC) approving U.S. banks to use public blockchain networks. Ether jumped nearly 12% on the letter’s release, given Ethereum’s dominance as a stablecoin payment settlement protocol. Bitcoin also gained 5% […]

$200 Billion in Fines: Mega Banks Rack up Penalties From Illegal Activities

Top U.S. banks have racked up almost $200 billion in fines and penalties over the past 20 years from illegal activities in 395 major legal cases. Bank of America tops the list, followed by JPMorgan, Citigroup, and Wells Fargo, according to a new report, which also covers Morgan Stanley and Goldman Sachs. Big Banks’ $200 […]

$200 Billion in Fines: Mega Banks Rack up Penalties From Illegal Activities

Top U.S. banks have racked up almost $200 billion in fines and penalties over the past 20 years from illegal activities in 395 major legal cases. Bank of America tops the list, followed by JPMorgan, Citigroup, and Wells Fargo, according to a new report, which also covers Morgan Stanley and Goldman Sachs. Big Banks’ $200 […]

Puerto Rico-Based FV Bank to Offer Regulated Crypto Custody in the US

A Puerto Rico-based digital challenger bank is launching a custody service for digital assets, offering clients the chance to securely store and exchange major cryptocurrencies from early 2021. FV Bank (which stands for fintech ventures) announced Monday it has received permission from the Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) to provide […]

OCC Economist Cites Benefits of Issuing Bank Charters to Stablecoin Providers

The chief economist of the Office of the Comptroller of the Currency (OCC), a banking regulator within the U.S. Treasury, believes issuing national bank charters to “fintech shadow banks†could bring “substantial advantages.†In a paper titled “Chartering the FinTech Future,†Charles Calomiris set out how stablecoin providers chartered as banks that do not rely […]

SatoshiPay to Become First User of German Bank’s Euro Stablecoin

Cryptocurrency payments provider SatoshiPay has inked a deal with German bank Bankhaus von der Heydt to become the first user of its recently revealed euro-backed stablecoin (EURB). Announced Tuesday by SatoshiPay investor Blue Star Capital, the payments firm plans to integrate the regulatory complaint EURB into its cross border money transfer service called DTransfer. Bankhaus […]

India’s Banks Are Once More Serving Crypto Traders and Exchanges

Banks in India are again doing business with select cryptocurrency exchanges and their customers. Top institutions such as State Bank of India, ICICI Bank, HDFC Bank and Yes Bank are allowing customers to use their bank accounts to fund cryptocurrency trading. They are further offering various facilities to cryptocurrency exchanges, sources familiar with the matter […]

DBS Bank’s Digital Exchange to Begin Trading Crypto ‘Next Week’

DBS Bank of Singapore has officially announced the arrival of its digital assets exchange, with trading to start next week. The DBS Digital Exchange is 10% owned by Singapore’s SGX stock exchange. It will also provide tokenization of securities and other assets, as well as bank-grade custody for digital assets. The new exchange will facilitate […]

Private German Bank to Launch Cryptocurrency Fund

Private German bank Hauck & Aufhauser is launching a cryptocurrency fund in January 2021. According to an announcement on Thursday, the HAIC Digital Asset Fund will be aimed at institutional clients and hold a number of cryptocurrencies such as bitcoin, ether and stellar. The minimum investment will be €200,000 (US$243,000). Frankfurt-headquartered Hauck & Aufhauser said […]

XRP Price Climbed 123% in 30 Days, Spark Token Airdrop Pushes Value Higher

During the course of the week digital currency markets have seen colossal gains and one crypto asset, in particular, XRP, has jumped significantly in value over the last seven days. The distributed ledger token XRP climbed 25% upwards on Tuesday alone, and seven-day price stats show the coin has gained 123% as well. At the […]

US Banks Face a Massive Commercial Real Estate Crisis Looming on the Horizon

Financial incumbents may face a harsh reality soon, as a commercial real estate crisis has threatened the profits from America’s largest banks. A number of reports show that banks with a large amount of commercial real estate in their portfolios may see a significant fallout in the next few months. Just recently PWC’s real estate […]

US Banks Face a Massive Commercial Real Estate Crisis Looming on the Horizon

Financial incumbents may face a harsh reality soon, as a commercial real estate crisis has threatened the profits from America’s largest banks. A number of reports show that banks with a large amount of commercial real estate in their portfolios may see a significant fallout in the next few months. Just recently PWC’s real estate […]

Belarus Bank to Offer Bitcoin Purchases, With Litecoin and Ether Coming Soon

Belarusbank, one of the largest credit institutions in Belarus, has partnered with OTC broker White Bird to offer a bitcoin buying service, according to an announcement Monday. For now, purchases will be available via bank cards issued in Belarus and Russia (the two countries’ financial systems are well connected). But going forward, the bank is […]