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 Association of Russian Banks is worried about regulators being unable to track illicit transactions of an offline-enabled digital ruble.
Digital ruble could be still vulnerable to fraud, Russian banks warn
Helen Partz
2021-01-13T12:01:16+00:00
3875
News
Brooks is optimistic that regulators will find it easier to work with algorithms than with bankers.
OCC's Brian Brooks thinks that DeFi can root out bias and fraud in traditional banking
Kollen Post
2021-01-12T17:07:25+00:00
11039
News
Bitcoin made a swift 20% recovery from the weekend’s bloodbath, while American banks prepare to post major losses in their upcoming quarterly reports.
Bitcoin price climbs 20% overnight as US banks brace for 40% profit cut
Greg Thomson
2021-01-12T10:59:06+00:00
16575
News
South Korea’s Shinhan Bank has invested in a crypto custody service backed by local crypto exchange Korbit.
Korea’s Shinhan Bank makes strategic investment in crypto custody consortium
Helen Partz
2021-01-11T13:14:07+00:00
3733
News
The OCC’s acting head is pushing against the Consumer Financial Protection Bureau’s intention to charter non-depository fintech firms.
'Two cops on the beat': Regulator wants sole authority to charter fintech firms
Samuel Haig
2021-01-07T05:57:00+00:00
22306
News
HDBank has processed its first L/C transactions since joining the Contour platform for international trade.
Vietnamese bank issues its first letters of credit on the blockchain
Jack Martin
2021-01-06T11:20:29+00:00
15347
News
The Italian Banking Association, ABI, is conducting digital euro tests as the European Central Bank is yet to make a clear decision on a central bank digital cu...
Italian Banking Association launches experimental digital euro project
Osato Avan-Nomayo
2021-01-06T09:04:17+00:00
9726
News
More state regulators are gunning for the OCC and Brian Brooks, this time over usury laws and predatory lending.
States sue the OCC and Brian Brooks for overriding their controls on predatory lending
Kollen Post
2021-01-05T20:33:00+00:00
9389

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