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
Tutors, taxi drivers and repairmen will be able to take advantage of Alfa-Bank's blockchain-based services.
Russia’s Alfa-Bank offers blockchain platform for freelancers
Helen Partz
2020-12-01T12:18:19+00:00
4732
News
With new legislation on digital assets coming into effect in a month, Russian financial institutions are looking to act.
Russia's Sberbank plans release of its own crypto token, the 'Sbercoin'
Kollen Post
2020-11-30T19:29:54+00:00
2886
Opinion
The sector has a long way to go in terms of accessibility if DeFi really wants to challenge traditional financial institutions.
Yield farming is a fad, but DeFi promises to change the way we interact with money
Tim Frost
2020-11-29T09:43:00+00:00
22470
Opinion
True innovations are a serious problem for traditional financial institutions, but fintech and crypto startups have the solution.
Big banks think new furniture is innovation, but they are wrong
Roman Potemkin
2020-11-28T09:38:00+00:00
15319
News
SBI plans to add support for Ether and XRP lending in the near future.
Japanese financial giant SBI debuts Bitcoin lending service
Helen Partz
2020-11-24T08:03:14+00:00
11610
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
13349
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
14423
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
13247

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