Around 100 Italian Banks Are Officially on a Blockchain
The Italian Banking Association claims that about 100 local banks are now operating on a blockchain network designed to speed up interbank transactions and processes. Source
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Banks
Crypto banks are going to swallow fiat banks in 3 years — or even less
Within a few years, a younger generation of financial services customers are going to be able to walk into a bank and gain access to credit products, savings accounts and investments that can host both crypto and fiat assets. In fact, the inroads that will allow for all of this
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BIS Partnered with Seven Central Banks to Detail CBDC Expectations
The report indicates that a CBDC should be easily convertible, convenient to all, possess an unmatched security system, have high speed, and should be of legal sound.As the world financial system gets digitized, central banks are tirelessly working on developing and issuing their Central Bank Digital Currency (CBDC) in the
Read MoreCentral banks detail CBDC expectations in massive joint document
With Central Bank Digital Currencies a point of focus across the globe, a number of countries' banking authorities have jointly produced a document discussing the currency type at length. The Bank for International Settlements told Cointelgraph in a statement that a group of seven central banks and the BIS had collaborated
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South Korea’s Central Bank to Test Digital Currency With Banks in 2021
Following China's lead, the Bank of Korea is to run circulation trials of a central bank digital currency with assistance from banks. Source
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Brokers and banks in crypto
This past summer, a Switzerland-based blockchain investment company called CV VC, and a Swiss audit and advisory firm known as PwC, in collaboration with Cryptox, put together an in-depth report on the top blockchain companies and what they are up to in their distinct sectors.The report lists eight separate categories.
Read MoreUS banking regulator authorizes federal banks to hold reserves for stablecoins
Per an interpretive letter from the U.S. Office of the Comptroller of the Currency released on Monday, national banks will be free to hold reserve currencies for stablecoins.The new guidance reads, "We conclude that a national bank may hold such stablecoin 'reserves' as a service to bank customers."Alongside the announcement,
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The FinCEN Files Show Banks Don’t Care About Money Laundering
The massive leak of suspicious activity reports shows how banks let the government know about likely money laundering, then go right on providing services. The FinCEN Files are a leaked cache of suspicious activity reports filed by banks with the U.S .Financial Crimes Enforcement Network. The more than 2,000 files, representing
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Blockchain Bites: DeFi’s Dividend, China’s ‘New Battlefield,’ the Big Banks’ ‘Suspicious Activity’
China sees its digital yuan as a “new battlefield,” DeFi’s Curve has a new dividend program and a yet-to-launch platform is pursuing an “Initial DEX Offering.” Top shelf‘New battlefield’China’s central bank gave an inside look into its motivations for developing a digital currency (CBDC) for retail and governmental use. In a commentary published by
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Kraken Shows How Crypto Companies and Banks Are Evolving Together
Some say that meaningful change happens gradually. Others insist it erupts unexpectedly. This week, we saw that both are true. Earlier this week, the Wyoming Banking Board voted to approve the application from San Francisco-based crypto exchange Kraken for a Special Purpose Depositary Institution (SPDI) banking charter. Yes, one of the
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