Tag: BANKS
Global Microfinance Market Projected to Reach $506 Billion by 2030
The global microfinance market has shown consistent growth prospects from 2014 to 2030, according to ResearchAndMarkets. The report focuses on lending activities by both banks and non-bank entities, [more…]
Banks Embrace Tech to Navigate Economic and Cyber Challenges, ISG Highlights
In an era marked by economic disruptions and cyber threats, global banking and financial services (BFS) firms are increasingly leaning on technology. Their goal? To bolster customer [more…]
Growing Regulatory Concerns Push US Bank Stocks Downward
The stocks of US banks stumbled today (Tuesday) amidst fears of stricter regulations and the possible additional downgrading of several lenders in the country. Specifically, the S&P [more…]
The Impact of Digital Wallets on Traditional Banking and Financial Institutions
In the financial sector, digital wallets have become a game-changer, completely changing how people manage their money and conduct business. The significant effects of digital wallets on [more…]
Russian Banks Set for Record Profits This Year, Central Bank, Rating Agency Say
Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are [more…]
Breaking the Barriers of Traditional Banking With Digital Assets
Another one bites the dust! The banking industry in the United States is in trouble, and regional banks are feeling the squeeze. A number of banks have [more…]
Hong Kong’s Largest Virtual Bank Offers Crypto Conversion Services
ZA Bank, Hong Kong’s biggest virtual-only lender, intends to expand its business into the region’s growing digital assets sector. The banking platform will offer crypto-to-fiat conversions and [more…]
Nasdaq Aims to Launch Crypto Custody Services in Second Quarter
Nasdaq intends to launch its custody services for digital assets like bitcoin by the end of this year’s second quarter. The exchange operator is among those traditional [more…]
Blockchain to Become More Relevant in Payments This Year, Sberbank Exec Says
Blockchain technology can help solve current issues with settlements, according to the deputy chief executive of Sberbank. Russia’s largest bank is working with other financial institutions to [more…]
US Crypto Holders Trust Banks and Exchanges for Custody
A recent survey conducted by Paxos has shown that American crypto holders still trust intermediaries such as banks, crypto exchanges, and mobile payment apps to hold their [more…]
Banks Holding Cryptocurrencies Face Strict New Regulations in European Parliament
A report on a draft measure that would require banks that hold cryptocurrencies to put aside a significant amount of capital in an attempt to mitigate possible [more…]
DekaBank to Launch Blockchain-Based Tokenization Platform
Together with the digital asset startup Metaco, the German bank DekaBank, which has been in business for 105 years, is now working on the preparations necessary to [more…]
HSBC is looking for a top executive to work with asset tokenization
The British multinational bank HSBC, which controls the greatest amount of assets in Europe, has increased its focus on digital currencies in recent years. The financial institution [more…]
Crypto Bank Custodia Denied Membership in US Federal Reserve System
The U.S. Federal Reserve Board has rejected the attempt of Custodia Bank to become member of the Federal Reserve System. According to the decision announced Friday, the [more…]
The Federal Home Loan Banks System is lending to cryptocurrency
According to a report that was published by The Wall Street Journal on January 21, the Federal Home Loan Banks System (FHLB) of the United States is [more…]
China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCs
The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform [more…]
Moonstone Bank to Exit Crypto Space
Moonstone Bank, a rural bank in the state of Washington that was given an estimated $11.5 million investment by Alameda Research, the sister firm of FTX, has [more…]
Venezuelan Banks Have Blocked Over 75 Accounts Since the End of Last Year Due to Cryptocurrency-Related Activities
Venezuelan Banks have started eyeing the accounts of customers with ties to cryptocurrency trading, principally related to peer-to-peer (P2P) transaction activity. According to Legalrocks, a crypto and [more…]
Russia to Ban Banks From Using Messengers Like Telegram to Contact Customers
Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by [more…]
Federal Reserve Doubles Down on Oversight of Crypto Activities for Banks
By Grant F. Butler, Jeremy McLaughlin, Anthony R.G. Nolan, and Judie Rinearson The Federal Reserve Board (the “FRB”) issued Supervision and Regulation Letter 22-6 (“SR 22-6”), providing [more…]
Swiss Bank to Offer Crypto Services to Wealthiest Clients
Julius Baer Group, a 132-year-old Swiss bank with over $116 billion in assets under management, is set to offer crypto services to its wealthiest clients. According to [more…]
