Tag: Bank

Bank Indonesia to Launch ‘Stablecoin Version’ Backed by Government Bonds

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Bank Indonesia (BI), Indonesia’s central bank, is moving ahead with plans to issue what it describes as its “national stablecoin version,” a digital currency backed by government bonds (SBN). The initiative was unveiled by central bank Governor Perry Warjiyo during the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 in Jakarta on Thursday, according to a report by CNBC Indonesia. During the summit, Warjiyo said Bank Indonesia plans to issue digital central bank securities, which are tokenized versions of SBN. The digital securities will be backed by the…

Safello, Deutsche Bank to Launch Bittensor (TAO) ETP on SIX Swiss Exchange

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Nordic crypto exchange Safello is entering the exchange-traded product market with the launch of the first-ever Bittensor (TAO) ETP, developed in partnership with Deutsche Digital Assets (DDA), a crypto asset manager backed by Germany’s Deutsche Bank. The Safello Bittensor Staked TAO ETP (STAO) is scheduled to list on the SIX Swiss Exchange on Nov. 19, with a 1.49% management fee, according to a Wednesday announcement. “This is an important milestone for our new business area,” said Emelie Moritz, CEO of Safello. “The Safello TAO ETP will, as the first product…

Big Iran Bank Goes Bankrupt, Affecting 42 Million Customers

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One of Iran’s largest private banks has fallen into bankruptcy, with the assets of more than 42 million customers being absorbed by the Iranian state-owned lender, Bank Melli. Ayandeh Bank declared bankruptcy on Thursday after it accumulated $5.1 billion in losses and nearly $3 billion in debt, local media outlet Iran International reported on Friday. The bankruptcy was declared days after the Central Bank of Iran failed to rescue the bank, leaving officials with no option but to close it, which had operated 270 branches nationwide.  More than 42 million customers were…

Sygnum Bank, Debifi Partner on Multisignature Bitcoin Lending Product

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Sygnum Bank has partnered with Bitcoin-backed lending platform Debifi to launch a multisignature lending product that allows borrowers to retain shared control of their collateral. According to the Swiss digital asset bank’s announcement on Friday, the product introduces a Bitcoin-native multisign lending model that allows clients to retain control of their collateral through distributed key management, ensuring that assets cannot be rehypothecated. Sygnum clients can take out fiat loans backed by Bitcoin in a setup that requires three of five key holders to authorize any transaction, allowing borrowers to track…

Custodia Bank partners with Vantage Bank to launch blockchain platform for tokenizing deposits

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Key Takeaways Custodia Bank and Vantage Bank have partnered to introduce a blockchain platform enabling banks to tokenize customer deposits. The platform integrates tokenized deposits directly into banks’ core systems while complying with regulations. Share this article Custodia Bank, a Wyoming-based digital asset bank, has partnered with Vantage Bank, a Texas community bank, to launch a blockchain platform that enables traditional banks to tokenize customer deposits. The turnkey solution allows financial institutions to integrate tokenized deposits directly into their core banking systems while maintaining regulatory compliance. The platform supports tokenized…

Pave Bank secures $39M funding with Tether’s participation

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Key Takeaways Pave Bank, a fintech integrating fiat and digital assets, raised $39 million in funding. Tether, alongside Accel and Wintermute, was a notable investor in the round. Share this article Pave Bank, a fintech startup building a programmable banking platform that integrates fiat and digital assets, secured $39 million in funding with participation from Tether Investments, the investment arm of stablecoin issuer Tether. The round, led by Accel, also included Wintermute. The funding supports Pave Bank’s development of what it positions as a compliant solution for blending traditional finance…

Crypto markets tumble amid US regional bank stress, prolonged government shutdown

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Key Takeaways Bitcoin and major cryptocurrencies experienced significant declines amid US regional banking stress and prolonged government shutdown concerns. The crypto market capitalization fell 6% as investors moved toward safe-haven assets following disclosures of substantial loan losses by US regional banks. Share this article Bitcoin lost more than $5,000 in less than six hours on Friday morning, pulling most altcoins lower as regional banking crisis fears mount and the US government shutdown drags into its third week. Bitcoin plunged from nearly $109,000 to $103,500 earlier today before rebounding to above…

Bitcoin Copies 2023 Regional Bank Rout With $105,000 BTC Price Dive

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Key points: Bitcoin falls to its lowest levels since June as familiar US banking turmoil returns. Traders see $100,000 as possibly failing as support. Gold comes off fresh all-time highs as Peter Schiff sees it beating Bitcoin to the $1 million mark. Bitcoin (BTC) fell to 15-week lows on Friday as a US banking rout added to BTC price pressures. BTC/USD four-hour chart. Source: Cointelegraph/TradingView Bitcoin risks “going straight to $98,000” next Data from Cointelegraph Markets Pro and TradingView showed Bitcoin dropping under $106,000 for the first time since June.…

Sony Bank files for OCC charter to issue and manage US stablecoins

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Key Takeaways Sony Bank, majority-owned by Sony, is seeking a national trust bank charter with the OCC to enable it to issue and manage stablecoins in the US. This move marks Sony Bank’s entry into the US stablecoin and digital asset market via federal regulatory channels. Share this article Sony Bank, a Japanese financial institution majority-owned by Sony, has filed for a national trust bank charter with the Office of the Comptroller of the Currency to issue and manage stablecoins in the US market. The application represents Sony Bank’s expansion…

Peter Thiel’s Erebor Approved as Silicon Valley Bank Rival Emerges

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Erebor, a financial services company backed by billionaire Peter Thiel, has received regulatory approval to launch in the United States — a move that could help fill the gap left by the collapse of Silicon Valley Bank in 2023. According to a report by the Financial Times on Wednesday, Erebor has secured a preliminary banking charter but must still clear several compliance and security hurdles before it can begin operations — a process that could take several months. The approval was confirmed by the Office of the Comptroller of the…