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
It's a long road to the number-one spot, but some ecosystem players think we'll get there eventually.
After breaking $100 billion TVL, DeFi is now the equivalent of a top 40 U.S. bank
Andrew Thurman
2021-04-06T16:18:46+01:00
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Tech Mahindra wants to provide U.S. banks with a stablecoin solution after the OCC authorized federally chartered banks to use stablecoins for settlement in Jan...
Indian IT giant Tech Mahindra to launch stablecoin tool for banks
Helen Partz
2021-04-06T13:48:16+01:00
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Following cybersecurity assessments, commercial institutions are being cleared to issue the world's first CBDC: the Bahamas' Sand Dollar.
Bahamas' Sand Dollar nears commercial rollout as interoperability completed
Greg Thomson
2021-03-29T14:26:57+01:00
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Digital RMB testing for cross border payments and electric vehicles continues, sentiment takes a dive and blockchain events return to meatspace.
Our Man in Shanghai: Digital yuan tests, ‘bear market’ and ‘NFT’ searches spike
Ben Yorke
2021-03-26T09:25:12+00:00
13795
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The digital asset bank will be aimed at institutional investors only, and there is no exchange planned.
Avanti Financial raises $37 million to launch institutional crypto bank
Martin Young
2021-03-26T02:31:29+00:00
7827
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A future digital euro wouldn't be a threat to savers, say officials from the European Central Bank.
European Central Bank tries to quell Germans' doubts about digital euro
Marie Huillet
2021-03-25T11:37:28+00:00
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Rejecting crypto as a reserve currency will lead to an Indian currency devaluation of the worst kind, warns blockchain entrepreneur Raj Chowdhury.
Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India
Greg Thomson
2021-03-25T09:27:50+00:00
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"Traditional lending services generally do not exist in the digital currency industry, which means there aren’t many lenders for investors to choose from,” said...
Crypto-collateralized loans may soon bring new investors to space
Turner Wright
2021-03-23T16:43:59+00:00
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