Banking News

Trump hasn’t confirmed who he will have replace Fed Chair Jerome Powell with next year, but two recent hints, taken together, point to his crypto-friendly adviser.

Bank of America’s wealthiest clients will gain access to Bitcoin ETFs, while its network of over 15,000 wealth advisers can recommend crypto exposure for the first time, Yahoo reported.

Web3 neobank blends self-custody, stablecoins and DeFi with multicurrency accounts and cards to turn onchain finance into daily money infrastructure.

Standard Chartered will provide digital asset custody for 21Shares, signaling deeper expansion into crypto by traditional financial players.

Strike CEO Jack Mallers said JPMorgan closed his accounts without explanation, reigniting fears of Operation Chokepoint 2.0 and renewed pressure on crypto companies.

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.”