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Softbank leads $800M investment for banking app Revolut
15.7.2021
Now valued at $33 billion, Revolut didn’t rule out a potential IPO this year, but the firm's CFO suggested that it was unlikely
Crypto diversification signs, Exchanges Secure Banking Contracts + More News
12.7.2021
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Investments news
Last week was the quietest trading week since October 2020 as digital asset investment products saw minor outflows, totaling...
Blockchain technology could be particularly beneficial for women, says WTO director general
9.7.2021
The former foreign and finance minister of Nigeria said the G20 should be looking into blockchain solutions to close the gender gap
AXIA To Launch Its Own Dedicated Digital Currency Banking Platform
9.7.2021
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
AXIA Capital Bank aims to embed AXIA Coin, it’s proprietary digital currency, into several ecosystem applications that will change the economic model to benefit the many rather than the few. AXIA Capital Bank...
Ukraine’s Monobank to Allow Customers to Trade Bitcoin
7.7.2021
Monobank, a mobile bank operating in Ukraine, has announced new products and services that will allow users to trade cryptocurrencies and stocks. One of the offerings includes a bitcoin card which the online banking platform is going to launch as early as this month. Monobank to Offer Users Bitcoin...
Sygnum Bank Launches ETH 2.0 Staking – Business Unit Head Says ‘Staking Is a Core Element for Portfolios’
7.7.2021
The Switzerland-based bank Sygnum revealed on Tuesday that the firm now allows Ethereum 2.0 staking. The FINMA-approved company’s customers can access the Ethereum-based staking services via Sygnum’s banking platform. Sygnum’s Banking Platform Offers Ethereum 2.0 Staking Last...
Japanese Ruling Party Official Says Digital Yen Clarity Will Be Revealed in 2022
6.7.2021
While the U.S. ramps up discussions of a digital dollar and China’s central bank digital currency (CBDC) draws near, Japan’s CBDC, otherwise known as the digital yen, is getting closer to its realization as well. Japan’s ruling Liberal Democratic Party member, Hideki Murai...
Barclays Blocks Customers From Sending Funds to Binance
6.7.2021
Barclays has reported it no longer supports wiring funds to Binance, one of the largest cryptocurrency exchanges in terms of daily volume. The bank announced its issues with wiring funds to Binance in a resolution message to the customers today. The banking giant cites the warning that...
Crypto exchanges in India still struggling to secure banking partners
1.7.2021
India’s crypto exchanges continue to cope with the burden of limited access to banking services
Fed Vice Chair Quarles Says Digital Dollar Could Pose Significant Risks to US Banking System
1.7.2021
The Federal Reserve’s vice chairman of supervision and the chair of the Financial Stability Board (FSB), Randal K. Quarles, doubts the benefits of the digital dollar but says it “could pose significant and concrete risks” to the U.S. banking system. Fed Vice Chair Speptical About...
Coinbase Launches High Yield USDC Accounts With 4% APY
30.6.2021
Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company’s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. Coinbase Reveals USDC Savings Program With...
Mexico’s Finance Minister: Cryptocurrencies Are Prohibited From Being Used in Financial System
30.6.2021
Mexico’s central bank, finance ministry, and banking regulator have jointly issued a warning about cryptocurrency. Finance Minister Arturo Herrera emphasized that cryptocurrencies are prohibited from being used in Mexico’s financial system. The central bank of Mexico, the finance...
Korean Crypto Exchanges Consider Suing Government Over Banking Requirements
30.6.2021
All cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business. A number of Korean crypto exchanges are considering suing the government and financial authorities, claiming that the country’s crypto law...
Korean Banks to Be Relieved of Liability for Crypto-Related Crime, Report Suggests
28.6.2021
Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering. According to local media, financial regulators are now developing rules that could relieve Korean banks from responsibility when screening...
Open Banking and DeFi: The Next Big Thing in Finance
28.6.2021
The text below is an advertorial article that was not written by Cryptonews.com journalists.
From the grain loans of ancient cities like Assyria and Babylonia to the lenders of the ancient Greek and the Roman empires, the evolution of banking services has been intricate and gradual. Like...
Crypto Industry Will Benefit From Tighter Regulation, Says Law Professor
28.6.2021
The chairman of International Banking Law and Finance at the University of Edinburgh, professor Emilios Avgouleas, says that tighter crypto regulation will benefit the industry in the long run. He is bullish about the prospects of cryptocurrencies becoming widely used around the world. Tight...
Indian Banks Halting Services to Crypto Industry Post RBI Clarification
27.6.2021
Several Indian banks have reportedly halted services to customers dealing in cryptocurrencies despite the central bank, the Reserve Bank of India (RBI), informing them that the banning circular is no longer valid. The latest bank to join the fray is IDFC First Bank. IDFC First Bank has become...
10,000 Financial Institutions Can Now Let Customers Buy, Sell, Hold Bitcoin Through Their Bank Accounts
25.6.2021
Banks and credit unions of all sizes can now facilitate the buying, selling, and holding of bitcoin within their banking platforms thanks to a collaboration between Finserv and New York Digital Investment Group (NYDIG). Finserv currently has about 10,000 financial institution clients. All Banks...
Q2’s Banking Platform to Enable Over 18 Million Users to Buy, Sell, Hold Bitcoin
24.6.2021
Q2’s digital banking platform, which currently powers nearly 30% of the top 100 banks in the U.S., will allow more than 18.3 million registered users to buy, sell, and hold bitcoin. Q2 Holdings Inc. (NYSE:QTWO) provides digital banking and lending solutions to banks, credit unions...
Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC
23.6.2021
The Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities. The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley. Central Bank and Crypto...