Tag: Bank

What Central Bank Gold Buying Means For Bitcoin

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Global central banks have been increasing their gold reserves over the past few years in a trend that may have major implications for Bitcoin, according to a recent report from Deutsche Bank. Gold’s share of central bank reserves reached 24% in the second quarter of the year, its highest share since the 1990s, Deutsche Bank strategists reported Thursday. With official demand for gold running at twice the pace of the 2011–2021 average, some Deutsche Bank analysts see growing parallels between gold and Bitcoin (BTC), which has seen a record-breaking performance…

Bank of France Pushes for ESMA Oversight, Stricter Stablecoin Rules

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The Bank of France has called on the European Union to give its markets regulator direct supervision over major crypto firms, warning that fragmented oversight could threaten the bloc’s financial sovereignty. Speaking at the ACPR-AMF Fintech Forum in Paris on Thursday, Bank of France Governor François Villeroy de Galhau said the European Securities and Markets Authority (ESMA) should be given the mandate to directly oversee crypto-asset issuers under the EU’s Markets in Crypto-Assets (MiCA) framework.  “I also advocate, along with the president of the AMF, for European supervision of crypto-asset…

Amina Bank Launches Polygon (POL) Staking With Up to 15% Rewards

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Swiss crypto bank Amina Bank has become the first financial institution to offer staking services for POL, the native token securing the Polygon network. The Zug-based bank, licensed by the Swiss Financial Market Supervisory Authority (FINMA), said on Thursday that it will provide institutional clients with up to 15% in staking rewards through a new partnership with the Polygon Foundation. “Our expansion of POL services provides institutional clients with regulated access to the blockchain, enabling our clients to be rewarded for providing stability and security to a blockchain network used…

Bullish partners with Deutsche Bank for institutional fiat integration

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Key Takeaways Bullish, a digital asset exchange, has partnered with Deutsche Bank to facilitate institutional fiat integration. The partnership offers institutional clients efficient movement between traditional fiat currencies and digital assets. Share this article Bullish, a digital asset exchange, has partnered with Deutsche Bank to integrate institutional fiat services, creating new pathways for traditional finance to access crypto markets. The partnership leverages Deutsche Bank’s banking infrastructure to provide seamless fiat-crypto transitions for institutional clients on Bullish’s platform. This collaboration enables institutions to move between traditional currencies and digital assets more…

Fasset Approved to Launch Stablecoin-Powered Islamic Digital Bank

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Fasset received a provisional license from Malaysia’s Labuan Financial Services Authority (FSA) to launch what the company said is the first stablecoin-powered “Islamic digital bank.” The license allows Fasset, an all-in-one financial super app, to operate within a regulated sandbox focused on Shariah-compliant financial products, the company said in a Tuesday news release. “We can now combine the credibility of a global banking institution with the innovation of a fintech insurgent that’s fully halal,” Fasset CEO Mohammad Raafi Hossain said. Islamic finance refers to the financial system based on Islamic…

Standard Chartered Predicts $1T Bank Outflows to Stablecoins

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Multinational bank Standard Chartered predicted that more than $1 trillion may exit emerging market banks and flow into stablecoins by 2028 as demand for US dollar-pegged crypto assets accelerates.  In a Monday report, Standard Chartered’s Global Research department said it expects global stablecoin adoption to accelerate as payment networks and other core banking activities shift to the non-bank sector.  As stablecoins gain traction in emerging markets (EM), Standard Chartered noted that users might utilize stablecoins to access what’s essentially a US dollar-based account. “Stablecoin ownership has been more prevalent in…

Walmart-Owned Bank App OnePay to Add Crypto Support: Report

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OnePay — a banking app majority-owned by Walmart — will soon roll out crypto support, according to CNBC. According to a Friday CNBC report citing anonymous sources, OnePay will soon offer cryptocurrency trading and custody to its users. The app is expected to support Bitcoin (BTC) and Ether (ETH) later this year. OnePay has positioned itself as a US version of a “superapp,” modeled after China’s WeChat. The platform already offers banking services including high-yield savings accounts, credit and debit cards, loans and wireless plans. WeChat is China’s all-in-one “superapp,”…

Stablecoin and CBDC Can Work Together: Kazakh National Bank

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Kazakhstan is moving forward with a dual-track approach to digital assets, piloting its central bank digital currency (CBDC) while also backing a state-linked stablecoin. In September, the National Bank of Kazakhstan launched the Evo stablecoin in collaboration with Solana and Mastercard, marking one of the first cases of state-backed stablecoin development worldwide. The central bank has also been progressing with its CBDC, digital tenge, which launched in 2023. “When discussing the Evo stablecoin and the digital tenge, we see not competition, but rather opportunities for integration and interoperability,” Berik Sholpankulov,…

European Central Bank Picks Providers For Possible Digital Euro Rollout

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The European Central Bank (ECB), as part of its preparation phase for a potential digital euro launch, announced framework agreements with technology providers responsible for components of the central bank digital currency (CBDC). In a Thursday notice, the ECB said it had reached agreements with seven entities — and at least one more expected to be announced — to provide services related to managing fraud and risk, a secure exchange of payment information, and software development for a possible digital euro. Among the companies were Feedzai, which uses AI to…

Ripple Takes On Europe With Spanish Bank BBVA Custody Deal

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Ripple, the US blockchain firm behind the XRP cryptocurrency, will provide crypto custody services to Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA). According to a Tuesday announcement, Ripple’s agreement to provide crypto custody services to BBVA follows the bank’s recent announcement of its Bitcoin (BTC) and Ether (ETH) retail trading and custody service. BBVA will rely on Ripple’s institutional custody service to power services to its customers. BBVA’s head of digital assets, Francisco Maroto, said that Ripple’s custody service allows it to meet the necessary standards to “directly provide an…