The EIB has reportedly hired banks like Goldman Sachs and Société Générale to explore a digital bond registered and settled via blockchain.
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.
Kasikornbank has identified asset-backed DeFi as having the potential to create economic value for Thailand.9919
The investment banking giant now reportedly classifies MicroStrategy as a “virtual currency product.”23996
Currenex, a State Street-owned FX platform, will provide its infrastructure for the Pure Digital cryptocurrency exchange.8306
IADB disbursed tokenized funds to a recipient in the Dominican Republic using the LACChain blockchain network.4356
Participants will receive a discount for every central bank digital currency expenditure worth 100 yuan.7370
The Sveriges Riksbank said that CBDC technology still requires further investigation.10704
What are the tools that banks and financial institutions need to identify money laundering involving crypto? This explained guide reveals all.22
It's a long road to the number-one spot, but some ecosystem players think we'll get there eventually.10792
Tech Mahindra wants to provide U.S. banks with a stablecoin solution after the OCC authorized federally chartered banks to use stablecoins for settlement in January.11555
Following cybersecurity assessments, commercial institutions are being cleared to issue the world's first CBDC: the Bahamas' Sand Dollar.5081
Digital RMB testing for cross border payments and electric vehicles continues, sentiment takes a dive and blockchain events return to meatspace.13798
The digital asset bank will be aimed at institutional investors only, and there is no exchange planned.7830
A future digital euro wouldn't be a threat to savers, say officials from the European Central Bank.8218
Rejecting crypto as a reserve currency will lead to an Indian currency devaluation of the worst kind, warns blockchain entrepreneur Raj Chowdhury.11738