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.

Opinion
Banks are no longer the only player in the financial industry, as decentralized finance builds authority and gains mainstream adoption.
The battle of banks vs. DeFi is a win for individual crypto investors
Christophe Lassuyt
2021-12-19T11:11:00+00:00
11187
News
Juniper research report says cost savings for banks using blockchain tech could grow by 3,300% by 2030.
Wells Fargo partners with HSBC to settle FX transactions using blockchain
Prashant Jha
2021-12-14T13:35:39+00:00
5730
News
Ukraine’s Ministry of Digital Transformation supports a Stellar-based private stablecoin project developed by a local bank.
Ukrainian bank uses Stellar to launch electronic hryvnia pilot
Helen Partz
2021-12-14T13:00:00+00:00
9850
News
According to the plan, 50 million savings bank customers would be able to buy Bitcoin directly from checking accounts.
German savings banks want to enable Bitcoin for 50M clients
Helen Partz
2021-12-14T10:51:28+00:00
13521
Analysis
The book describes how DeFi improves upon traditional finance’s failings by raising up “marginalized groups,” including the unbanked.
DeFi resolving the five flaws of traditional finance: Book review
Andrew Singer
2021-12-11T17:07:00+00:00
6872
News
Binance is reportedly in talks with the richest family in Indonesia regarding a new crypto venture.
Binance reportedly in talks to launch crypto exchange in Indonesia
Prashant Jha
2021-12-10T09:41:29+00:00
6825
News
The crypto venture is expected to formalize its operation by the end of 2021 and start offering its services by early 2022.
SBI announces crypto joint venture with Swiss digital exchange SIX
Prashant Jha
2021-12-08T10:52:43+00:00
5401
News
The partnership will allow Bancolombia customers to trade a number of popular cryptocurrencies including BTC, ETH and LTC.
Gemini partners with Colombia's biggest bank for crypto trading
Keira Wright
2021-12-07T06:15:01+00:00
5308

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