Integrating fintech solutions with traditional banking, this neo-banking ecosystem offers seamless fiat and crypto transactions alongside innovative investment opportunities.
Banks News
While one of the goals of cryptocurrencies is to render traditional banking obsolete, banks as a financial institution still play a critical role in the advent and adoption of the emerging crypto economy in two ways.
Firstly, outside of a physical cash exchange for cryptocurrency, banks provide the fiat bridges to cryptocurrency markets. Without them, the influx of capital and interest in the blockchain industry would be nowhere near the magnitude it is today.
Secondly, many of the world’s leading banks are researching and, in some cases, developing their own central bank digital currencies, or CBDCs, which aim to secure hegemony in the digital asset space largely in response to the growth of the crypto economy.
As digital finance evolves before our eyes, banks as a commonplace financial organization may change drastically in their role and purpose in society — even if it leads to obsolescence.
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The Landesbank Baden-Württemberg will start offering crypto custody services to institutional clients starting in the second half of 2024.
4332The crypto market sees a sharp correction as the U.S. stock market waves some concerning red flags.
18162According to crypto insider Andrew AP Abacus, both Morgan Stanley and UBS are set to add Bitcoin ETFs to their platform next week.
7098The Swiss city of Lugano is allowing its residents and visitors to use cryptocurrency for everyday transactions — including their tax payments.
3299Custodia Bank argued that without a master account, it is a “second-class citizen” at the mercy of an intermediary bank.
6291Credit Suisse-backed Taurus will provide the Turkish neobank Misyon with tools to enable cryptocurrency custody and tokenization services.
2327A federal judge struck down Silvergate’s dismissal bid of a lawsuit claiming it aided fraud at FTX, saying the allegations were adequate to proceed.
2087This week’s Crypto Biz covers the buzz surrounding Bitcoin, the outlook for Ether ETFs, Ubisoft as an XPLA validator, Coinbase’s challenges and global banks taking on blockchain.
9997The landlocked country of Andorra sought technical assistance from the International Monetary Fund on various topics, including effectively monitoring crypto assets.
2294Since the Canton Network’s inception, 155 participants from 45 major organizations have settled real-world assets across 22 blockchains.
10853The price of Bitcoin has pushed to reach new all-time highs above $72,000, spurred by record-breaking weekly inflows into crypto funds.
5359Institutions representing “trillions of dollars” in assets are expected to buy into spot Bitcoin ETFs by June this year, says Bitwise’s Matt Hougan.
41411Stock prices for the embattled lender have slumped 83% since the beginning of 2024, hitting an all-time low this week before rebounding.
6790The House Financial Services Committee has voted to advance a resolution that could overturn the controversial Staff Accounting Bulletin No. 121.
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