Tag Archives: Banks

Allied Payment Network and Finastra are joining hands to create a new product known as the Allied Bitcoin Wallet, which will be available to customers of both platforms through the Finastra Fusion Store. Allied and Finastra… The Perfect Match? Created by Allied – and with assistance from the NYDIG – the product is built primarily for financial institutions who are looking to enter the crypto space. Standard banks and similar establishments will be able to use the wallet...

In a recent report published by English bank Standard Chartered, analysts structurally value Ethereum at “USD 26,000- 35,000” while also predicting that Bitcoin will reach 170k. Standard Chartered: Why ETH beats Bitcoin for Investment The financial service giant’s report, titled “Ethereum Investor Guide,” explains the network’s value proposition while comparing and contrasting it with the Bitcoin network. Based on their research, analysts Geoff Kendrick, Christopher Graham,...

The largest bank in Russia – Sberbank – plans to register its blockchain platform with the Bank of Russia by mid-September. The financial institution has also started creating functionality for issuing digital financial assets (DFA) of third parties. Sberbank’s Next Crypto Move According to a recent report by the Russian media TASS, the local banking giant – Sberbank – is on its way to register a blockchain-based platform for issuing digital assets with Russia’s central...

The British multinational banking institution – Standard Chartered – has teamed up with the financial technology company – Linklogis – to launch a new blockchain-based digital trade finance platform. It comes by the name of Olea, and its goal would be to bring together “institutional investors seeking opportunities in an alternative asset class with businesses requiring supply chain financing.” ‘Olea is Positioned to Reinvent Finance’ London-based bank Standard Chartered...

US multinational investment banking giant Citigroup is reportedly considering trading bitcoin futures, stating that it has witnessed an increased interest in BTC from its institutional clients. CME Looking to Trade CME Bitcoin Futures According to a report by CoinDesk on Tuesday (August 24th, 2021), an anonymous source within the bank revealed that Citi is working on receiving the regulatory green light to begin trading bitcoin futures on the Chicago Mercantile Exchange...

A few months after dabbling with the idea of getting on the cryptocurrency bandwagon, Wells Fargo has filed documents with the US Securities and Exchange Commission to launch a designated Bitcoin fund. According to the filing with the Commission, the US financial institution has partnered with FS Investments and New York Digital Investment Group (NYDIG) for the initiative. The name of the product will be FS NYDIG Bitcoin Fund I, LP. While previous speculations indicated that...

The American financial institution State Street Corporation will reportedly start offering digital assets services for its private-fund clients. The bank’s partner in the move is the back-office crypto-focused technology company – Lukka Inc. State Street Dives Deeper into Crypto According to a recent Bloomberg report, the leading US bank – State Street Corporation – is looking to offer cryptocurrency reconciliation, reporting, and processing services to its private-fund...

According to recent research conducted by Nickel Digital Asset Management, nearly 75% of institutional investors and wealth managers stated that the security of virtual currencies is a “significant” hurdle stopping many individuals from entering the crypto space. Low Confidence among Institutional Investors The UK-based investment manager – Nickel Digital Asset Management – asked 100 global institutional investors and wealth managers to determine their biggest concerns...

David Lindberg – Chief Executive of retail banking at NatWest – warned investors to beware of dealing with digital assets in Britain. In his opinion, the market there is full of fraudsters who create fake cryptocurrency exchanges to lure users into thinking they are investing. ‘Fraud And Scams Are an Industry’ One of the top executives at the leading British bank NatWest – David Lindberg – alerted that the UK is not the best place for crypto investing. To him, the Kingdom is...

While the world worries about the fall of Bitcoin prices, billionaires are increasingly enamored with the cryptocurrency. A recent Goldman Sachs study revealed that at least 45% of family offices are interested in investing large amounts of money in cryptocurrencies. Family offices are firms in charge of managing the money of billionaires such as Amazon’s Jeff Bezos, Google co-founder Sergey Brin or Alibaba’s Jack Ma. Generally, each office manages the wealth of a family....