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 EIB has reportedly hired banks like Goldman Sachs and Société Générale to explore a digital bond registered and settled via blockchain.
European Investment Bank reportedly to issue bonds with blockchain tech
Helen Partz
2021-04-13T09:44:03+01:00
16273
News
Kasikornbank has identified asset-backed DeFi as having the potential to create economic value for Thailand.
Major Thai bank experimenting with decentralized finance
Osato Avan-Nomayo
2021-04-12T12:14:50+01:00
10820
News
The investment banking giant now reportedly classifies MicroStrategy as a “virtual currency product.”
HSBC reportedly blacklists MicroStrategy's stock for investing in Bitcoin
Osato Avan-Nomayo
2021-04-09T16:00:00+01:00
25866
News
Currenex, a State Street-owned FX platform, will provide its infrastructure for the Pure Digital cryptocurrency exchange.
State Street to provide tech for institutional Bitcoin trading platform
Helen Partz
2021-04-08T13:53:35+01:00
8657
News
IADB disbursed tokenized funds to a recipient in the Dominican Republic using the LACChain blockchain network.
Citi and IADB complete cross-border payment pilot with blockchain tech
Helen Partz
2021-04-08T13:21:29+01:00
4595
News
Participants will receive a discount for every central bank digital currency expenditure worth 100 yuan.
Digital yuan campaign planned for contested island in the South China Sea
Marie Huillet
2021-04-08T11:23:13+01:00
7608
News
The Sveriges Riksbank said that CBDC technology still requires further investigation.
Sweden’s central bank completes first phase of digital currency pilot
Helen Partz
2021-04-07T10:11:13+01:00
11351
Explained
What are the tools that banks and financial institutions need to identify money laundering involving crypto? This explained guide reveal...
How banks can identify money laundering involving crypto, explained
Connor Sephton
2021-04-07T07:17:00+01:00

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