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 Switzerland-based branch of a major Russian bank has also joined OpenVASP.
Russia’s Gazprombank debuts Bitcoin trading in Switzerland
Helen Partz
2020-11-23T13:09:30+00:00
11082
News
The $3 billion blockchain bond has been effectively cancelled.
Chinese banking giant withdraws $3B blockchain bond from listing
Helen Partz
2020-11-23T08:01:58+00:00
10596
Opinion
MPC is a regulated, fee-centric model that is almost an exact replica of today’s banking system.
Multiparty computation: The Trojan Horse of crypto regulation
Asaf Naim
2020-11-22T08:38:00+00:00
10952
News
New rule-making aims to stop "creeping politicization of the banking industry," says OCC head.
US regulator wants to stop banks from blacklisting legal businesses, crypto included
Kollen Post
2020-11-20T20:00:00+00:00
9304
News
Could a new, coordinated effort to digitalize the Japanese economy be strong enough to compete with residents’ persistent use of cash?
Japan’s megabanks to lead experiment with digital yen
Marie Huillet
2020-11-19T11:59:56+00:00
4326
News
Another bank is reportedly moving into crypto amid a major bull run in crypto markets.
Belarus’ largest bank reportedly launches crypto exchange service
Helen Partz
2020-11-13T13:34:51+00:00
7601
News
Deutsche Bank has called on Europe to accelerate the development of central bank digital currencies.
Deutsche Bank: Central bank digital currency will replace cash in long term
Helen Partz
2020-11-12T11:21:17+00:00
12732
News
Multiple United States congresspersons recently expressed their displeasure at the OCC's focus on crypto this year.
OCC is too caught up in crypto under former Coinbase exec, congresspeople say
Benjamin Pirus
2020-11-11T20:52:37+00:00
7664

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