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"The city’s digital assets regulation is overall friendly and encourages banks to work with crypto companies, however, banks still currently have stringent requirements in place, which makes it difficult for crypto businesses to expand and grow,” Adrian Wang, founder, and CEO of Metalpha, a Hong Kong-based digital assets wealth management
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The Hong Kong Monetary Authority (HKMA), which serves as the region's central bank and regulator, has reportedly put pressure on major banks including HSBC and Standard Chartered to accept crypto exchanges as clients.According to a June 15 report from the Financial Times, which cited three sources familiar with the matter,
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The HSBC Innovation Banking unit has more than 650 employees in the UK, over 40 members in the U.S., and hiring more in Hong Kong and Tel Aviv. HSBC Holdings PLC ADR (NYSE: HSBC), a British universal bank and financial services group with more than $10 trillion in assets under custody
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied SWIFT, the global financial messaging service, is partnering with major banks and Chainlink, a web3 infrastructure provider, to test the integration of public and private blockchains for global banking. The Society for Worldwide Interbank Financial Telecommunication
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Reginald Fowler, a former NFL team owner, has been sentenced to six years of prison for operating as a “shadow bank” to the crypto sector, which involved over $700 million in unregulated transactions over a 10 month timespan in 2018.The 63-year-old, who was a co-owner of the Minnesota Vikings, was
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The absurdity of this is layered and nuanced, like a souffle of clumsy, anti-customer banking practices. One trigger for such a bank security review, you see, is making a large deposit into a new account. But Apple has been heavily marketing the above-average interest rate on its savings service (4.15%),
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin of America has agreed to a settlement deal with the Department of Banking to refund the four customers who lost tens of thousands through the crypto kiosks. In a recent statement from the Banking Commissioner in
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Amid financial scrutiny, UK fintech giant Revolut faces rejection for its long-running banking license application. Revolut is facing a possible rejection of its UK banking license application submitted to the Bank of England (BoE). The British neobank’s long-standing application for a UK banking license appears to be in jeopardy and could cause a
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Revolut believes that license would help to ensure higher consumer confidence. Crypto-friendly fintech company Revolut has introduced an international payment-targeted business account for customers in Australia, as it is allegedly operating to safeguard a banking license. The London-based company provides a wide range of fiat payment services for customers in Europe and
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