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
South Korean crypto exchange Gopax has told users if it can’t resolve its banking difficulties before a looming regulatory deadline, it will need to shut down.
DCG-backed Korean exchange faces closure if it can’t find banking partner
Marie Huillet
2021-09-17T10:57:41+01:00
3173
News
The head of the body in charge of overseeing U.S. banks named cryptocurrency and decentralized finance (DeFi) activity among factors contributing to disintermed...
Crypto and DeFi disintermediate banking in new ways, says OCC head
Kirill Bryanov
2021-09-16T13:39:02+01:00
2669
News
The Russian central bank is planning to slow down payments to crypto exchanges and combat suspicious crypto activity.
Bank of Russia wants to block ‘emotional’ and suspicious crypto activity
Helen Partz
2021-09-15T13:48:05+01:00
3666
News
After launching a Bitcoin investment tool for millionaires earlier this year, Morgan Stanley is diving deeper into crypto.
Morgan Stanley launches cryptocurrency research team
Helen Partz
2021-09-15T09:50:35+01:00
6746
News
Treasury officials are studying the risks if too many people decide to withdraw their stablecoins all at once.
US Treasury reportedly in talks for stablecoin regulation
Helen Partz
2021-09-13T12:51:45+01:00
5340
News
Bancoagrícola will work with Flexa to accept Bitcoin across the bank’s network for payments like loans and credit cards.
El Salvador's largest bank partners with Flexa for Bitcoin payments
Osato Avan-Nomayo
2021-09-09T17:30:00+01:00
10029
Interview
In our latest video report, Cointelegraph addresses the systemic risk posed by stablecoins.
Stablecoin crisis: Huge risk or FUD? - Cointelegraph video report
Marco Castrovilli
2021-09-08T17:00:00+01:00
6659
News
El Salvador’s Bitcoin acceptance is a major win for the cryptocurrency industry, Cardano founder Charles Hoskinson believes.
More countries to follow El Salvador’s Bitcoin move, Cardano creator says
Helen Partz
2021-09-08T12:15:59+01:00
20798

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