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BIS Research Report: Stablecoins Not Secure as Store of Value
9.11.2023
Stablecoins. Source: Adobe / Grispb Fiat-backed stablecoins are “not a safe store of value,” according to a new research report from the Bank for International Settlements (BIS). According to the report, the BIS found that from January 2019 to September 2023, fiat-backed stablecoins were able...
Russians Will Be Able to ‘Withdraw’ Digital Rubles as Cash at ATMs
9.11.2023
Source: motortion/Adobe A major Russian bank has created a solution that lets digital ruble holders perform real-time “withdrawal”-type cash conversions at ATMs. Per Izvestia, VTB Bank has developed a solution that lets CBDC holders instantly convert their digital rubles to banknotes at any of...
BIS Chief Touts Benefits of CBDCs, Says Crypto Reveals ‘Poorly Designed and Poorly Supervised Financial Systems’
8.11.2023
In a Wednesday speech in Basel, Switzerland, Bank for International Settlements (BIS) chief Agustín Carstens argued that central bank digital currencies (CBDCs) will “sit at the core of the future financial system,” bringing innovation and meeting public expectations. While Challenges Remain,...
Stablecoins 'not a safe store of value': BIS
8.11.2023
"Not one of the stablecoins assessed in this paper has been able to maintain their closing prices in parity with their peg," wrote the Bank for International Settlements
Founder of Estonia's LHV Bank Lost Access to $472M of Ether
8.11.2023
"It's no secret that I have a wallet with 250,000 Ethereum units," Lõhmus said in an interview with Estonian national radio channel Vikerraadio in late October
Can Bank-Backed Exchanges Solve Crypto Trading’s Trust Problem?
8.11.2023
HSBC Announces Plans to Launch Digital Asset Custody Service in Partnership with Metaco
8.11.2023
Source: AdobeStock / BGStock72 HSBC Holdings aims to introduce a custody service for digital assets, catering to institutional clients seeking exposure to tokenized securities. The global bank will offer the new service in collaboration with Metaco, a technology firm owned by Ripple Labs, according...
Swiss Crypto Bank SEBA Wins Hong Kong License
8.11.2023
The bank's Hong Kong unit can now deal in and distribute securities, including virtual assets-related products
Swiss crypto bank SEBA gets Hong Kong SFC license
8.11.2023
SEBA began its quest for Hong Kong expansion late last year, setting up an office in November 2022 and by August 2023, the firm obtained an in-principle approval to offer virtual asset trading services
CBDCs Are 'Central' to Innovating Financial Systems, BIS Chief Says
8.11.2023
Central banks will have a limited role to play relative to the private sector in CBDC issuance, the group's general manager Agustín Carstens said
SEBA Bank’s Hong Kong Branch Secures Full License for Crypto Services from SFC
8.11.2023
Source: SEBA Bank The Swiss crypto bank SEBA has announced that its wholly owned subsidiary SEBA Hong Kong has received a full license from the city’s Securities and Futures Commission (SFC). This regulatory approval enables the bank to engage in a wide range of financial activities, including...
Crypto ATM Expansion Continues with Bitgamo Set to Install 90 More in 2024
8.11.2023
Source: AdobeStock / l_martinez Crypto ATMs are continuing to expand globally with over 32,500 installed so far, Financial Times reported. Crypto ATMs allow everyday individuals to convert traditional fiat money into cryptocurrencies and vice versa, offering a level of convenience akin to standard...
Bitcoin Price Prediction: Custodia’s New Move, CFTC & Crypto Oversight
8.11.2023
In the fluid realm of digital currencies, Bitcoin‘s valuation has taken a modest uptick, registering a 1.20% climb to reach $35,365 on Wednesday. Amidst this nuanced shift in market dynamics, notable developments have surfaced. Custodia Bank, spearheaded by the astute Caitlin Long,...
UAE central bank to penalize unlicensed virtual asset service providers
8.11.2023
UAE lawyer Irina Heaver explained that the new guidance is part of the UAE’s efforts to be removed from the Financial Action Task Force’s (FATF) “grey list.”
German Banking Giant DZ Bank Launches Crypto Custody Platform
8.11.2023
One of the largest banks in Germany by total assets, DZ Bank, has launched a crypto custody platform. Additionally, the bank disclosed that alongside its solution for institutional customers, it is working on “an offer that allows private customers to invest directly...
Japanese Megabank Mitsubishi UFJ Teams up with Crypto Exchange for Stablecoin Project
8.11.2023
Source: Funtap/Adobe The Japanese banking giant Mitsubishi UFJ will join forces with one of the nation’s biggest crypto exchanges for a new stablecoin offering. The bank will team up with Bitbank, one of Japan’s biggest and longest-running crypto exchange platforms. The firms and their partners...
Stablecoin issuer Circle weighing up 2024 public launch: Report
8.11.2023
Circle initially agreed to go public as part of a $4.5 billion merger in July 2021 but that deal fizzled out
Custodia Bank Launches Bitcoin Custody Service for Businesses
7.11.2023
Source: Pexels Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S. states. On November 7, Custodia Bank, formerly known as Avanti Financial Group, announced on X (formerly Twitter) that they have now launched...
U.S. Federal Reserve's Barr Holds Line on Central Bank Needing Stablecoin Powers
7.11.2023
Vice Chairman Michael Barr argued that the Fed needs regulatory and enforcement authority over stablecoin issuers – a point of contention in the debate over legislation
Caitlin Long’s Custodia Bank launches Bitcoin custody platform
7.11.2023
Custodia Bank’s launch of Bitcoin custody follows a series of regulatory challenges the firm faced earlier this year