Tag Archives: Banks

The Bank of New York Mellon Corporation and State Street Corporation joined four other institutions in backing the digital asset exchange Pure Digital. Furthermore, America’s oldest banking organization plans to expand its crypto offerings to clients. BNY Mellon Diving Deeper into Crypto According to a recent Financial Times report, one of the largest custodian banks – BNY Mellon – publicly declared its support towards the London-based cryptocurrency exchange Pure Digital....

Ralph Hamers, the CEO of the Swiss multinational investment bank UBS Group AG, has no FOMO towards the cryptocurrency industry. He feels his organization is not missing out on any potential gains from this “untested” market. No Crypto Fomo: UBS CEO Speaking to Bloomberg TV, Hamers outlined the success of the financial institution that he runs in the past year. While commenting on the bank’s earnings and the expansion to other nations, he received a question in regards to what...

The European Central Bank will start an investigation phase of a digital euro project, which will last 24 months after years of dabbling with the idea. The organization promised privacy protection and also lower energy consumption than Bitcoin. Although the idea of a central bank digital currency has floated around for years, the ECB has never shown genuine interest in actually looking into it. In the past, bank officials, including President Christine Lagarde, have shared...

The world’s largest digital asset manager, Grayscale Investments, has partnered with America’s oldest bank BNY Mellon. As a result, the banking giant will provide the Grayscale Bitcoin Trust with fund accounting and administration starting later this year. The announcement from Grayscale states that as of October 1st, 2021, BNY Mellon will become an official partner with several services oriented towards the company’s largest fund. Namely, the oldest US bank will “provide the...

Mercado Bitcoin, the largest crypto exchange in Brazil, has received a $200 million investment from the Japanese multinational conglomerate holding company, Softbank Group Corp, in a recently-concluded Series B funding. The Largest Series B Funding in LatAm According to a Thursday report, SoftBank made this investment through its Latin America Fund. Robert Dagnoni, the executive chairman and CEO of 2TM, the parent company of Mercado Bitcoin, noted that the giant bank’s move...

Not long ago, a billionaire in Mexico named Ricardo Salinas Pliego stated that he was working with his bank (known as Banco Azteca) to ensure customers could gain access to crypto and blockchain services. While Pliego is excited about the prospects of digital currency, his country is not as enthusiastic. Mexico Will Not Permit Banks to Enter the BTC Forum On social media, Pliego stated the following: Bitcoin is a good way to diversify your investment portfolio and I...

British banks are making it increasingly difficult for their customers to get involved with crypto, citing particular concerns related to security and exposure to fraud. According to a report by the British newspaper The Times, TSB bank is reportedly about to ban its customers from buying crypto with funds managed by the bank. TSB is reportedly concerned about an “excessively high” fraud rate related to crypto exchanges operating in the country. TSB Could Be Cutting Ties With...

After conducting tests for several months, the Swiss branch of the large Spanish bank – Banco Bilbao Vizcaya Argentaria (BBCA) – has announced plans to release two services related to the cryptocurrency industry. According to the official statement, private banking customers based only in Switzerland will have the option to trade bitcoin and other digital assets starting from Monday – June 21st. BBVA’s second service will enable its clients to store their digital assets on a...

America’s second-oldest bank, State Street Corporation, will establish a digital unit to focus on cryptocurrency endeavors. This comes shortly after the banking organization with over $40 billion in Assets Under Management (AUM) said it will enable crypto trading through its platform. State Street Sets Up a Digital Unit The Finance Times reported State Street’s latest endeavor in relation to the cryptocurrency industry. According to the coverage, the giant bank has outlined...

The global banking body is seeking stakeholder opinions on the best course of action on the issue of banks interacting with crypto assets. From central banks and other regulators to intergovernmental working bodies, legacy finance gatekeepers seem to be paying greater attention to the emerging cryptocurrency market. Public Consultation on Crypto Assets According to a communique issued by the Bank for International Settlements (BIS) on Monday (June 7, 2021), the Basel...