Tag Archives: Banks

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...

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...

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...

The Central Bank of the Argentine Republic (BCRA) prohibited domestic financial institutions from facilitating crypto opportunities. The announcement comes a few days after two of the largest local banks – Banco Galicia and Brubank – revealed they will allow clients to purchase digital assets via their official websites. Argentina’s Central Bank Blocks the Crypto Offerings Earlier this week, the largest private bank in Argentina in terms of market value – Banco Galicia – and...

Two banks in Argentina will be allowing their clients to purchase cryptocurrencies via their official websites. The pair are Banco Galicia – the nation’s largest private bank in terms of market value, and Brubank – a fully digital bank. The two entities have partnered with the crypto wallet Lirium for the new service, which will reportedly be available to clients on Monday. For Banco Galicia, the feature will first be available to customers whose salaries are directly...

Blockchain Association of Singapore (BAS) on Wednesday announced a partnership with American banking major BNY Mellon. As per the MoU, the latter comes on board BAS as a strategic collaborator. BAS’ tie-up with BNY comes in the wake of a generally strict regulatory environment both in Singapore and globally, coupled with an increasing interest of institutional investors in digital assets. The advocacy organization for the blockchain industry appointed Richard Teng, a former...

Despite the recent trend of developing countries gaining exposure to cryptocurrencies, buying digital assets like Bitcoin, Ethereum, and stablecoins isn’t easy at all in countries like Afghanistan. Since last August, when the Taliban seized power in the country, America-initiated sanctions have crippled domestic funds from being moved to international financial institutions. Meanwhile, due to the nation’s monetary and political instabilities, Afghans choose stablecoins over...

Circle Internet Financial, the issuer of USDC stablecoin, is planning to apply for a crypto bank license in the US in the near future.  According to co-founder and CEO Jeremy Allaire, the company has been in talks with regulators on the issue since August 2021, when it first revealed plans to convert into a bank, a Bloomberg report said on Wednesday.  Allaire said the firm will apply “hopefully in the near future.”  The Circle management has been in talks with the US Office...

Australia’s financial regulators have yet to approve plans by the Commonwealth Bank of Australia (CBA) to offer access to crypto products for its over 6.5 million customers. The regulatory watchdog says the onus is on the CBA to comply with laid-down rules and regulations for financial products. Opposition from the regulator has prevented the CBA from moving beyond the pilot phase of the project. Will CBA’s Crypto Product Be Delayed? According to a report by Financial Review...

The rumors were true: Goldman Sachs has reportedly conducted its first OTC crypto option trade with investment firm Galaxy Digital. This marks the first of any such trade among all major US banks, and a big milestone for the crypto derivatives market. Bitcoin Options Trades Earlier this month, unidentified sources claimed that Goldman was contemplating offering bilateral crypto options for institutional clients. Apparently, it was just one of multiple Wall Street Banks to...