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Tag Archives: Banks

JP Morgan Registers Trademark For a New Cryptocurrency Wallet

On November 21, U.S. Patent and Trademark Attorney Michael Kondoudis announced that JP Morgan & Chase Co, the largest bank in the United States— and one of the largest financial companies in the world— registered a patent to venture into the Web3 with a digital crypto wallet. According to Kondoudis, the U.S. Patent and Trademark Office (USPTO) approved the application by JP Morgan & Chase Co.on November 15. The wallet will offer services like virtual currency transfer...

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Mastercard Bridges the Gap Between Banks and Crypto

Mastercard is looking to bring the traditional world of banking and crypto together by making it easier for the former to get involved with the latter. The company has announced a new program that will allow banks to offer crypto trading. Mastercard: A Crypto Savior? This is huge news in that it blurs the lines between two arenas that have long been at war with each other. Traditional finance is all about getting third parties and prying eyes involved, whereas crypto is...

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These Banks Are Venturing Into Crypto Despite Ongoing Bear Market

The Berlin-based neobank – N26 – established a cryptocurrency service that will enable customers to buy and sell 100 cryptocurrencies. The largest fintech bank in Latin America – Nubank – also hopped on the bandwagon, launching its own cryptocurrency in Brazil. Interestingly, Berkshire Hathaway – the conglomerate holding company spearheaded by the famed investor and crypto critic Warren Buffett – is among the financial backers of the banking institution. Even though the...

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Metamask to let U.S. Users Buy Cryptocurrencies Directly From Their Bank Accounts

Metamask continues to push for leadership in the cryptocurrency wallet industry, offering new tools that make it easier for its users to purchase crypto. On October 13, Sardine, a financial platform offering instant ACH settlements, confirmed a partnership with ConsenSys to allow Metamask users in the U.S. to purchase cryptocurrencies with their bank accounts from the wallet’s UI. We don’t fox around We make payments faster & safer for MetaMask users 🦊...

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The SEC Just Made It Very Hard for Banks to Get into Crypto

It looks like there are plenty of banks out there that want to thin the line between themselves and crypto. They have digital currency plans in the mix and they’re ready to act on them, but the Securities and Exchange Commission (SEC) is allegedly getting in the way. The SEC Is Back to Its Old Tricks The SEC has recently released new accounting guidance that has made crypto development much harder on the side of traditional finance. According to the new rules, any bank...

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Mastercard Launches New Crypto Product to Help Banks Battle Fraud

The multinational financial services company – Mastercard – released a new product called “Crypto Secure.” Its main purpose is to assist banks in preventing fraudulent cases associated with digital assets. Over the past few years, Mastercard has displayed itself as a crypto-orientated company, while some of its executives are keen proponents of the industry. The Next Step The payment services giant doubled down on its cryptocurrency efforts by launching a feature that could...

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BIS Proclaims Success in Multi-CBDC Cross-Border Payment Pilot Project

The Bank for International Settlements (BIS) on Tuesday announced that a multi-jurisdiction CBDC pilot spearheaded by BIS Innovation Hub has been successful. The project saw 164 transactions worth nearly $22 million in real-value cross-border payments through a purpose-built multi-CBDC platform – mBridge.   Apart from the central banks of Hong Kong, China, Thailand, and the United Arab Emirates (UAE), 20 commercial banks also participated in the project, which lasted a little...

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Crypto Lender Nexo Acquires Stake in US Chartered Bank

Leading cryptocurrency lender Nexo has acquired a stake in Hulett Bancorp (DBA Mode Eleven) and its subsidiary federally chartered bank Summit National Bank, regulated under the US Office of the Comptroller of the Currency.  The deal will allow the crypto lender, which has around $4 billion in assets under management, to further scale its financial product offerings across the US crypto market and strengthen its foothold in the region.  Nexo to Offer Crypto Services to US...

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Sumitomo Mitsui Trust to Establlish a Crypto Firm Targeting Instiutional Clients

Sumitomo Mitsui Trust – one of the largest asset managers in Asia – will tap Tokyo-based crypto exchange Bitbank to set up a company offering digital asset services to institutional clients this year. The newly created firm will hold cryptocurrencies and Non-Fungible Tokens (NFTs) for “large investors and corporations.” Sumitomo Mitsui Trust Focused on Security Issues Sumitomo Mitsui Trust’s latest crypto partner Bitbank reportedly ranked as the third-largest crypto exchange...

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Brazilian Digital Banking Giant Partners With Paxos to Offer Crypto Services

São Paulo-based Nubank, Latin America’s largest digital bank, has signed a partnership deal with blockchain infrastructure platform Paxos to support cryptocurrency trading services within its banking app. Nubank Supports Direct Bitcoin and Ether Trading In a press release on Wednesday (May 11, 2022), Nubank said its customers will be able to buy, sell, and hold bitcoin and ether directly via the banking app, with crypto purchases starting from $0.20. (1 BRL). According to the...

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