Metamask continues to push for leadership in the cryptocurrency wallet industry, offering new tools that make it easier for its users to purchase crypto. On October 13, Sardine, a financial platform offering instant ACH settlements, confirmed a partnership with ConsenSys to allow Metamask users in the U.S. to purchase cryptocurrencies with their bank accounts from...Read More
The Bank of New York Mellon (BNY Mellon) now allows customers to deposit their cryptocurrency holdings. As such, the banking institution now operates as a custodian for both digital and other types of investment assets. As previously reported, BNY Mellon received the necessary approval from New York’s financial watchdog earlier this year. The WSJ report...Read More
The Bank for International Settlements (BIS) on Tuesday announced that a multi-jurisdiction CBDC pilot spearheaded by BIS Innovation Hub has been successful. The project saw 164 transactions worth nearly $22 million in real-value cross-border payments through a purpose-built multi-CBDC platform – mBridge. Apart from the central banks of Hong Kong, China, Thailand, and the United...Read More
Leading cryptocurrency lender Nexo has acquired a stake in Hulett Bancorp (DBA Mode Eleven) and its subsidiary federally chartered bank Summit National Bank, regulated under the US Office of the Comptroller of the Currency. The deal will allow the crypto lender, which has around $4 billion in assets under management, to further scale its financial...Read More
The California-based cryptocurrency exchange Abra plans to form two financial institutions, called Abra Bank and Abra International. The former will provide digital asset services to American customers and businesses, while the latter will expand outside the States. Abra Sets up Banks With Crypto Focus In a recent announcement, the company revealed that Abra Bank will...Read More
Some of the leading banks in Portugal, including Banco Comercial Portugues and Banco Santander, have reportedly shut down all of CriptoLoja’s accounts last week. The company is the first cryptocurrency exchange that received a license to operate in the country. Prior to that, Portugal’s authorities have displayed a predominantly crypto-friendly stance, rejecting two tax proposals...Read More
Swiss-based digital asset bank Sygnum has added Cardano (ADA) to its bank-grade staking services for institutional clients. The bank’s customers can now earn rewards for staking ADA, the eighth largest cryptocurrency by market cap. According to a press release, Cardano has joined the list of other cryptocurrencies supported on Sygnum’s staking offerings, which currently consist...Read More
Banco Santander (Brasil) – the Brazilian arm of the Spanish banking giant – revealed intentions to offer cryptocurrency services to clients. By doing so, the company will join a range of local institutions that have already hopped on the digital asset bandwagon, including BTG Pactual, Nubank, PicPay, and XP Inc. Brazil Might Have a New...Read More
One of the largest banking institutions in the United Kingdom – Barclays – is reportedly one of the investors in Copper’s latest financing round and will purchase a stake in the company. The initiative could be considered a surprise since the global cryptocurrency sector is in a state of significant decline, while many UK authorities...Read More
Circle has tapped a New York state-based community bank as its latest custodial provider for USDC reserves. The move reflects Circle’s strategy to deepen partnerships with Community Banks across the U.S., attempting to make payments more inclusive to underserved communities. Under the new agreement, New York Community Bancorp’s bank subsidiary, New York Community Bank, will...Read More
The current bear market has left many crypto-related businesses reeling. Between the Luna fiasco and assets dropping close to levels not seen in 2 years, crypto mainstays are struggling to stay afloat – either by freezing hiring, cutting staff loose altogether, or freezing exchanges and withdrawals “to protect consumers.” However, not all companies are feeling...Read More
The multinational financial services firm Citibank has partnered with METACO – a digital asset custody provider – to start developing and piloting digital asset custody services. In a press release from Citi, the bank revealed that the companies will work together to build a platform that lets clients securely store and settle digital assets. The...Read More
The government of Kazakhstan has approved guidelines for a pilot program that will foster cooperation between some banking institutions and cryptocurrency exchanges in the Astana International Financial Center (AIFC). Crypto Exchange to Open Bank Accounts According to the official announcement, second-tier Kazakhstani banks now have the green light to offer bank accounts and other financial...Read More
Digital banks keep dealing with a lot of painful regulatory measures and impediments when applying for their operating permits; however, in this case, the Bitcoin Bank Custodia decided to deal with that issue… in a court of law. On May 7, Caitlin Long’s Bitcoin Bank Custodia filed a lawsuit against the Federal Reserve Board of...Read More
Chinese billionaire Jack Ma’s Ant Group announced the soft launch of its Singapore-based digital bank – ANEXT Bank – on Monday, marking its latest foray in cracking into digital banking beyond its domestic market. The new entity will offer account services to small and medium enterprises starting from Q3 2022. Leveraging Ant’s Footprint in Assisting...Read More
Sumitomo Mitsui Trust – one of the largest asset managers in Asia – will tap Tokyo-based crypto exchange Bitbank to set up a company offering digital asset services to institutional clients this year. The newly created firm will hold cryptocurrencies and Non-Fungible Tokens (NFTs) for “large investors and corporations.” Sumitomo Mitsui Trust Focused on Security...Read More
Commonwealth Bank (CommBank), the largest bank in Australia, has reportedly suspended its planned in-app cryptocurrency trading pilot without setting a new timeframe for when it would resume the service. CommBank Pauses Crypto Services at Pilot Phase According to the Guardian Australia, on Thursday (May 19, 2022), Matt Comyn, the chief executive officer of the Commonwealth...Read More
Julius Baer Group – the Swiss private bank with over $110 billion in AUM as of 2021 – revealed that it will offer digital asset services to high-ended clients. A pilot program has been currently installed to test token booking, trading, and compliance. The group will integrate cryptocurrencies into its wealth management services by first...Read More
Only days after launching its first-ever Over-the-Counter Bitcoin derivatives to institutional clients, Japan’s largest investment bank Nomura doubled down on its crypto-based services by launching a new digital asset unit for institutional investors. The financial giant will house a mix of digital asset companies underneath its newly established subsidiary, which will recruit 100 employees by...Read More
São Paulo-based Nubank, Latin America’s largest digital bank, has signed a partnership deal with blockchain infrastructure platform Paxos to support cryptocurrency trading services within its banking app. Nubank Supports Direct Bitcoin and Ether Trading In a press release on Wednesday (May 11, 2022), Nubank said its customers will be able to buy, sell, and hold...Read More
Circle Internet Financial, the issuer of USDC stablecoin, is planning to apply for a crypto bank license in the US in the near future. According to co-founder and CEO Jeremy Allaire, the company has been in talks with regulators on the issue since August 2021, when it first revealed plans to convert into a bank,...Read More
Australia’s financial regulators have yet to approve plans by the Commonwealth Bank of Australia (CBA) to offer access to crypto products for its over 6.5 million customers. The regulatory watchdog says the onus is on the CBA to comply with laid-down rules and regulations for financial products. Opposition from the regulator has prevented the CBA...Read More
HSBC, a former cryptocurrency critic, continues with its involvement with the Metaverse after its recent partnership with The Sandbox. The latest initiative will allow certain Hong Kong- and Singapore-based investors to engage with companies focusing on the new emerging trend. Citing a statement from the bank on April 6, Reuters reported that the new funds...Read More
Italian banking giant UniCredit has been asked to pay a fine of about $144 million for allegedly closing accounts belonging to a cryptocurrency mining company. UniCredit in Hot Water A district court in Banja Luka, Bosnia and Herzegovina, has ruled that UniCredit’s branch office in the country will pay a fine of €131 million ($144...Read More
The number of large banking organizations opting in the digital asset industry continues to expand, with the latest example coming from Bank Leumi. The organization has partnered with blockchain company Paxos to provide Bitcoin and Ethereum trading services. Bank Leumi to Enter the Crypto World? Reuters reported on March 24 that Bank Leumi – the...Read More
Institutional clients of the New York-based independent investment bank will be able to get spot crypto trading services. This comes after multiple other Wall Street investment banks started offering various digital asset features, but not spot trading. Bloomberg reported on March 23 Cowen Inc’s new offering, allowing institutional investors to trade crypto, putting the bank...Read More
The rumors were true: Goldman Sachs has reportedly conducted its first OTC crypto option trade with investment firm Galaxy Digital. This marks the first of any such trade among all major US banks, and a big milestone for the crypto derivatives market. Bitcoin Options Trades Earlier this month, unidentified sources claimed that Goldman was contemplating...Read More
Russia’s central bank granted the country’s largest lender Sberbank a license to issue and exchange digital assets. The latest move opens new avenues for the nation’s economy hammered by western sanctions. The Approval According to the official statement, local companies will be able to issue their own digital assets to lure market investments, purchase digital...Read More
HSBC, a British banking organization with little-to-no positive words and approach to the cryptocurrency industry until recently, will collaborate with The Sandbox to foray into the metaverse. The announcement from the Animoca Brands subsidiary informed that the new partnership will allow the banking giant to “open up a host of opportunities for virtual communities across...Read More
CoinShares – a digital asset management firm – has increased its stake in the Swiss online banking platform ‘FlowBank’ following approval from the Swiss Financial Market Supervisory Authority. According to a press release from CoinShares earlier today, the increased investment will facilitate “increased digital asset exposure” for FlowBank’s clients using the CoinShares platform. CoinShares’ previous...Read More
