Banking News

Alibaba’s global e-commerce arm is reportedly developing a bank-backed deposit token for cross-border payments as Beijing tightens its crackdown on stablecoins.

Ripple bundles custody, prime brokerage, treasury and stablecoins so institutions can operate like banks with crypto rails.

JPMorgan Chase has begun deploying its deposit token, JPM Coin, allowing institutional clients to make instant 24/7 transfers of US dollar deposits on Base.

As of 2024, at least one-third of commercial banks were exploring or piloting tokenized deposits, according to a survey by the Bank for International Settlements.

The EU is reportedly drafting a proposal to transfer crypto and financial sector oversight to the ESMA, as part of a wider push to improve capital markets for startups.

Banks may soon take a softer stance on crypto as the Basel Committee prepares to revise its 2022 guidance on banks’ exposure to digital assets, according to Bloomberg.

The $300 billion stablecoin market capitalization pushed DeFi into a “self-sustaining cycle” of growth, according to the investment bank’s head of research.

This could make Bitcoin and Ether more attractive to institutional investors seeking to maximize the utility of their assets.

The Singapore-based digital bank plans to broaden its crypto and fiat offerings for institutional clients, citing growing demand for programmable finance.

Industry watchers welcomed the idea of “skinny” master accounts as another sign of the end of crypto’s banking troubles, which insiders described as “Operation Chokepoint 2.0.”

The Blockchain Association, Crypto Council for Innovation and fintech allies urged the CFPB to finalize an open banking rule ensuring consumers, not banks, control their data.

Regional banks faced renewed stress despite 2023 crisis reforms, with Zions and Western Alliance stocks plunging as Bitcoin fell to a four-month low.

Ripple has partnered with South Africa’s Absa Bank to provide digital asset custody services, expanding its institutional custody network across Africa.

Can SWIFT’s blockchain match Ripple’s technological edge? Explore the key challenges it faces and its potential impact on global payments.

Fresh report from Web3 marketing agency Formula shows over 170 banks turning Web3 from pilots to profit, as clearer rules and tokenization push custody, payments and stablecoins mainstream.