The Italian Banking Association, or ABI, uses a blockchain-based system called Spunta, built with decentralization in mind.
Banking is any kind of business activity conducted by a bank, such as accepting deposits and creating credits, and other financial services. Banking is an old industry which has been around since ancient times. Banks in their current form (or at least similar to it) first appeared in Italy, during the period of Renaissance. Since then, banking has undergone many centuries of evolution, developing new kinds of services and financial techniques. Thanks to the advances in computer hardware and software over the past decades, a lot of banking is now done online.
Blockchain experts discuss how institutions will play a major role in the mass adoption of blockchain-based financial infrastructure.3644
A consortium aims to strengthen medical tourism in South Korea by launching a blockchain-powered platform.14261
Chinese multinational tech group ByteDance is seeking a virtual banking license in Singapore as a means of entering digital finance.21546
Turkish İşbank and German Commerzbank completed the first blockchain-based trade finance transaction between the two countries.13412
Central bank digital currencies endanger private banks, warned the Federal Reserve Bank of Philadelphia.4704
IMF expert says a synthetic CBDC is gaining popularity and will drive more innovation.4445
According to a recent report, Africa’s lack of traditional financial infrastructure makes the region fertile ground for cryptocurrency adoption.3255
Leading Bitcoin fund manager Grayscale Investments explains in its recent report that viewing CBDC as a Bitcoin replacement is incorrect.3752
A global think tank for central banking, OMFIF, has announced the launch of its Digital Money Institute, aimed at bridging the gap between digital currency and traditional banking.8271
Digital currency solutions that directly face consumers will not be taken seriously by central banks, according to a Visa executive.7166
Blockchain banking app, Bitwala, has integrated with DeFi app Celsius to offer interest to Bitcoin hodlers.4204
European Central Bank executive board member Yves Mersch believes that the main impediment for CBDC is philosophical rather than technological.10445
Major crypto event, Consensus: Distributed, kicks off virtually, with ECB board member Yves Mersch discussing central bank digital currencies.3662
Bitcoin Suisse is looking for almost $50 million of funding from investors to pursue expansion plans, which include moving into the banking sector.8859