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.

News
The Bank of England's deputy governor has argued that, with the possible rise of non-bank actors issuing currency, public money in digital form could serve as a...
UK will likely need to issue a digital currency, says BoE deputy governor
Marie Huillet
2021-05-14T12:15:27+01:00
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News
After posting tenfold crypto volume growth in Q1 2021, DBS Private Bank is expanding its crypto services with a new trust solution.
Singapore’s biggest bank launches crypto trust solution
Helen Partz
2021-05-14T10:06:17+01:00
9591
News
An up-and-down week was filled with high volumes for animal tokens and a flurry of digital yuan news, capped by a large fundraising round for Babel Finance.
Shanghai Man: Aping out of gorilla token, digital dollar Biden its time... and more
Ben Yorke
2021-05-14T01:05:35+01:00
13745
News
The Central Bank of Bahrain expects that its digital currency collaboration with JPMorgan and Bank ABC could extend to a CBDC.
Central Bank of Bahrain and JPMorgan to work on digital currency settlement pilot
Helen Partz
2021-05-13T14:34:00+01:00
4901
News
The 103-year-old bank wants to hold crypto for asset managers and hedge funds as Wall Street begins offering cryptocurrency products to institutional clients.
Investment bank Cowen set to offer institutional-grade crypto custody
Osato Avan-Nomayo
2021-05-13T14:17:00+01:00
5382
News
The first phase of tests for use of the digital yuan across borders has been successful, the Hong Kong Monetary Authority has said.
Hong Kong to expand pilots for cross-border use of digital yuan
Marie Huillet
2021-05-13T10:14:00+01:00
7593
News
After working at Goldman Sachs for 14 years, a banker reportedly left the firm due to netting massive gains from their Dogecoin holdings.
Goldman Sachs exec reportedly quits job after making Dogecoin fortune
Helen Partz
2021-05-12T12:57:10+01:00
21971
News
Nebraska senators have favored a measure that would allow state banks to facilitate crypto transactions like those in Wyoming.
Nebraska bill allowing banks to offer crypto services moves forward
Helen Partz
2021-05-11T09:13:52+01:00
10937

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