Search
Defi Lending Startup Aave Launches Permissioned Platform to Entice Financial Institutions
5.1.2022
On January 5, the open-source non-custodial decentralized finance (defi) lending platform Aave launched a permissioned version of the protocol aimed at institutions. The platform dubbed Aave Arc will leverage Fireblocks as the first whitelister as the platform aims to help bridge traditional...
Bank for International Settlements States True Decentralized Finance Is an ‘Illusion’
8.12.2021
The Bank for International Settlements (BIS), a finance organization comprised of several central banks, has stated that while the objective of decentralized finance is to move control of financial tools away from current financial institutions, it just provides an ‘illusion’ of doing...
Over 80% of African Users on Mineplex Reportedly Interested in Buying Goods With Staked Crypto
5.12.2021
A report says over 80% of African users on the Mineplex marketplace have shown an interest in the platform’s commodity staking program since launch. Zero Fee Alternative According to a recent study, over 80% of African users have taken part in the commodity staking program since its launch...
Nigerian Central Bank Wants Financial Institutions to Develop Products Based on Its CBDC
29.11.2021
The Central Bank of Nigeria has said it wants players in the country’s payment industry to develop and help introduce products based on its central bank digital currency, the e-naira. Central Bank Open to Suggestions In its bid to deepen the adoption of the e-naira, the Central Bank...
Nigerian Crypto and Blockchain Advocacy Group: Freezing or Closure of Bank Accounts Not Supported by Law
23.11.2021
The Blockchain Industry Coordinating Committee of Nigeria (BICCON), has said it is not lawful for Nigerian financial institutions to arbitrarily freeze or close bank accounts belonging to individuals or entities accused of trading cryptocurrency. Affected Crypto Entities Told to Seek Legal Advice...
Southeast Asian financial institutions turn to the Ethereum blockchain
22.11.2021
Is Ethereum the blockchain of choice for financial institutions in Southeast Asia, or will companies seek alternatives due to limitations?
CoinFLEX’s Stablecoin flexUSD Now Available to Hundreds of Financial Institutions With Copper ClearLoop Integration
15.11.2021
PRESS RELEASE. SEYCHELLES, 15 November 2021 – CoinFLEX, leading crypto exchange and yield platform, has partnered with Copper.co, a global digital asset custodian and trading solutions provider by integrating with their ClearLoop instant settlement trading network. The partnership expands...
Report: Traditional Banks in Africa Hold Trust Advantage Over Fintechs
13.11.2021
A recent report by CR2 on Africa’s fintech transformation suggests traditional financial institutions can still be a part of the fintech financial revolution if they leverage one of their most significant assets: client trust. Partnerships Between Banks and Fintechs The report urges...
Digital Euro Should Be Attractive But Not ‘Too Successful,’ ECB’s Panetta Says
7.11.2021
The digital euro should be an attractive means of payment but its design should prevent it from becoming so successful as a store of value that it threatens banks and private money, according to Fabio Panetta, a high-ranking executive at the European Central Bank. Panetta stressed that both this...
Bank of Spain Opens Mandatory Registry for VASPs
26.10.2021
The Bank Of Spain has finally opened the mandatory registry for Virtual Asset Service Providers (VASPs) in the country. The bank also dispelled doubts that financial institutions had regarding whether they had to apply for the registry given they already comply with AML legislation....
Colombian Government Might Take Unused Funds From Bank Accounts Inactive for a Year
26.10.2021
The budget law for the next year, which was recently approved by the Colombian representative’s chamber, includes a controversial article that allows the state to confiscate a bank customer’s funds to be used for budgetary purposes. Under certain circumstances defined by the...
The ‘Holding Billionaires Accountable’ Lie — Media, Big Tech Fact Checkers Mischaracterize Angst Toward Biden’s Tax Proposal
17.10.2021
U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s...
Where Banks, Financial Institutions, Fintechs & Startups Meet
14.10.2021
The coronavirus pandemic has changed everything, from the way we live and work to the way we consume and get basic services. Financial services will never look the same again. In this new reality, financial services companies will have to accelerate the development of their digital services...
Akt.io Shows How DeFi Is Shaping the Future and Why Financial Institutions Are Ripe for Disruption
11.10.2021
Investing has become mandatory for those who want to secure their financial future. Despite this need, the accessible alternatives for those wanting to put their money to work are few. Akt.io will change this and democratize the world of investing. Why do you need investments? With current accounts...
Nigeria CBDC Countdown: Central Bank Delays E-Naira Rollout
2.10.2021
A spokesperson for the Central Bank of Nigeria (CBN), Osita Nwanisobi, has said the launch of the much-hyped e-naira central bank digital currency (CBDC) has now been postponed to a later date. Nwanisobi’s announcement came less than 24 hours before the CBN was scheduled to launch...
More Crypto Regulation May Be on its Way in South Korea, Japan
29.9.2021
strengthen the monitoring of crypto exchanges” to ensure that they return customer deposits in a timely manner and follow other regulatory protocols.Koh was speaking to reporters after meeting with the heads of eight policy and financial institutions at Seoul, where he discussed crypto a
JPMorgan Boss Jamie Dimon: ‘If You Borrow Money to Buy Bitcoin, You’re a Fool’
28.9.2021
Jamie Dimon, the CEO of one of the biggest financial institutions of the world, JPMorgan, has once again let the world know about his stance on bitcoin and cryptocurrencies. Dimon stated that whoever borrowed money to purchase bitcoin was, in his opinion, a “fool.” However,...
China’s Crypto Crackdown: Fundamentals Still Show Bull Market Continuation, Bobby Lee Says ‘Don’t Panic’
24.9.2021
The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it...
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
16.9.2021
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across...
Russian Central Bank Tells Domestic Banks to Block Crypto Exchange Transactions
13.9.2021
gal business activities” such as “cryptocurrency exchanges,” which it clumped together in the same group as “online casinos and lotteries,” “financial pyramid schemes” and forex dealers.The central bank said it wanted domestic financial institutions to “block transactions” and “completely sto