The United Arab Emirates Banks Federation and the Abu Dhabi Global Market hosted a joint forum on crypto assets and fintech.
Banking News
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.
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The German private banking association foresees that the need for new regulation may arise from the emergence of DLT-based securities.
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Bloomberg reports that companies in the cryptocurrency industry still have trouble opening bank accounts.
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A new ecosystem is vowing to offer consumers the freedom to pay in fiat or crypto without middlemen — tackling the “miserable experience” they currently face.
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Swiss bank Julius Baer plans to provide its client with access to digital asset services, following a partnership with crypto bank Seba.
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Liechtenstein-based Bank Frick is launching an institutional cryptocurrency trading subsidiary, DLT Markets.
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Canadian banks showed hesitation concerning the management of insolvent cryptocurrency exchange QuadrigaCX’s assets.
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Two blockchain-related bills have been passed in the U.S. state of Wyoming.
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New York-based True Digital announced the appointment of former Bridgewater Associates COO Thomas Kim as its new CEO.
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Japan’s central bank examines central bank digital currencies in a new report, laying out their benefits and drawbacks.
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Terry Duffy said that until governments start to accept cryptocurrencies, it will be very difficult for major commercial banks to get involved.
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Philippine bank Union Bank is reportedly launching the country’s first two-way cryptocurrency ATM.
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The fintech and crypto leader for Asia at PricewaterhouseCoopers (PwC) believes that many institutional players will enter the crypto space in 2019.
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Japanese giant Mizuho Financial Group plans to introduce a digital currency for remittances and payments in March.
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Revolut fiat and cryptocurrency app has obtained a banking license in Lithuania.
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