Blockchain tech is pushing the boundaries of ID management as governments look for scalable solutions that promote privacy, control and decentralized data management.
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.
FTX founder Sam Bankman-Fried and Alameda Ventures made recent headlines for bailing out a handful of CeFi crypto platforms this week, but what exactly do market makers do?3991
Deloitte wants to enable blockchain and digital asset-based services across many areas involving Bitcoin products like banking, rewards programs and others.4766
A DAO-based financial industry means lower fees across the board, accessibility, and transparency. Would it be possible?38
Tether expects to reduce USDT’s commercial paper backing to $8.4 billion by the end of June 2022 and eventually completely remove it.6700
Bitcoin mining’s climate impact has been heavily criticized, but the emissions of corporate cash and investments have often flown under the radar.6077
Custodia wants to compel the Federal Reserve Board and its Kansas City branch to approve its application for a Fed master account within 30 days.3086
As DeFi projects offering insane returns continue to infiltrate the market, experts believe that investors need to better equip themselves to avoid such scams.4186
The Japanese government is rushing to enforce new stablecoin laws in the aftermath of the Terra collapse.4495
Tether stablecoin’s reported bank partner Capital Union supports a large variety of digital assets as part of its trading and custody services.2116
Executives from two of Australia’s “big four” banks have said they won’t allow their retail customers to trade crypto with ANZ, adding they’re happy they didn’t “go head long” into a cryptocurrency offering.2290
The working paper traces the effects of operations with CBDCs through several scenarios and concludes the Fed will have it under control.3019
The committee of central banks and regulators has proposed a “conservative prudential treatment” of crypto assets that banking groups say is prohibitive.1076
Panamanian bank Towerbank opens its doors to Bitcoin and crypto customers in a series of tweets and memes.4134
The banking giant says Terra's collapse did not appear to harm the VC market, and things will be looking up for crypto as long as VC stays in.12797