Tag: Bank

Bullish partners with Deutsche Bank for institutional fiat integration

admin

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

admin

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

admin

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

admin

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

admin

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

admin

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

admin

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…

France’s 3rd Largest Bank Launches Tokenized Debt on Tezos

admin

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may…

European Central Bank releases results of digital euro consultation

admin

The European Central Bank has published the results of a public consultation on a potential digital euro as the institution inches closer to deciding whether to formally study such an initiative.  According to a Wednesday announcement, the ECB received more than 8,200 responses to its public digital euro consultation — a personal record for the bank regarding participation in a public consultation. 47% of total responses came from Germany, with a significant amount also coming from Italy and France, accounting for 15% and 11% of total responses, respectively. The majority of respondents…

Crypto Capital Co-Founder Rejects Plea Deal in Shadow Bank Case

admin

Crypto Capital co-founder Reginald Fowler has rejected a plea deal with the US government in an ongoing case in which he is accused of operating a “shadow bank” for several crypto exchanges. Fowler was indicted in April 2019, along with Israeli national Ravid Yosef, for allegedly running a shadow bank for several cryptocurrency firms, including Bitfinex and Tether, which are currently embroiled in a separate case in which they are accused of creating “the largest bubble in human history.” According to a letter submitted by the prosecution on January 31, the…