Tag Archives: Banks

Multinational financial services giant Citibank announced on Wednesday that it is experimenting with tokenized securities on the blockchain to bolster the adoption of distributed ledger technology on Wall Street. Based on the results of the “simulation,” the bank will determine whether it plans to offer related blockchain-based services in the coming weeks. Citibank Onboards The Blockchain The bank collaborated with Wellington Management and WisdomTree – a crypto-supportive...

One of the largest banking groups in Germany intends to launch crypto trading services for interested customers this year. According to a Bloomberg report, the cooperative financial group, comprising more than 700 local banks, a central bank, specialized service providers, and institutions, plans to enter the project’s pilot phase soon. DZ Bank to Lead Crypto Trading Project The DZ Bank, a central bank in charge of the project, leads the cooperative financial network. Souad...

British multinational bank Standard Chartered projects Bitcoin (BTC) to reach $200,000 by the end of 2025 – more than a 300% climb from where it trades today. The bank argued in a Monday research note that Bitcoin spot ETFs – which are expected to receive “imminent” approval – may absorb $50 billion to $100 billion worth of flows within a year. The Upside Potential of Bitcoin ETFs The bank based its inflow estimates on the performance of the first gold ETF to reach the U.S....

A recent move was the introduction of the Digital Asset Anti-Money Laundering Act, another bill aiming to curtail the use of cryptocurrencies in America. On Dec. 11. the bill gained five new Senators as cosponsors, including, unsurprisingly, three members of the Banking Committee.  Crypto advocate Evan Van Ness posted a list of Senators he claimed were “paid off by the banks to cosponsor Elizabeth Warren’s anti-crypto bill,” A list of US senators paid off by the banks to...

JPMorgan Chase CEO Jamie Dimon attacked Bitcoin and other cryptocurrencies on Wednesday, suggesting that they’re only useful for criminals and may as well be banned. “If I were the government, I’d close it down,” Dimon said of the crypto industry during remarks on Capitol Hill on Wednesday. Bitcoin, Banks, and Crime Dimon was one among several CEOs of the eight largest U.S. banks to testify before the Senate Banking Committee on Wednesday at a hearing concerning annual...

The global division of Spanish financial institution Banco Santander – Santander Private Banking International – has reportedly introduced a new feature that enables customers with Swiss accounts to engage in the investment and trading of Bitcoin (BTC) and Ethereum (ETH). Given Banco Santander’s extensive history of more than 160 years and its broad customer base of 166 million individuals, the private banking division, which attends to 210,000 affluent clients and oversees...

Bitcoin (BTC)’s price will reach $150,000 by 2025 thanks to the upcoming “halving” and spot ETF approvals, wrote Bernstein in a Monday report. Analysts for the $691 billion asset manager’s crypto unit have modeled the asset’s future price based on its marginal production cost for miners, which they argue “acts as the price floor for every new cycle.” Defining Marginal Cost In its report, Bernstein subscribed to the Bitcoin 4-year cycle theory – the idea that Bitcoin’s price...

Commerzbank AG – the fourth largest bank in Germany – has received its Crypto Custody License after unveiling plans to break into digital asset safekeeping almost two years ago. This makes Commerzbank the first full-service bank in Germany to receive the license. Commerzbank Enters Crypto Custody Per a press release on Wednesday, the bank’s new license opens it to launching a “broad range” of new digital asset services, especially pertaining to crypto assets. Its first goal...

MicroStrategy’s Executive Chairman Michael Saylor spoke with CNBC on Thursday about the future of regulation and corporate adoption for Bitcoin (BTC), shortly after his company announced a $5.3 million BTC purchase last month. While the billionaire maintained that “you can never have too much Bitcoin,” he also claimed that “big banks” will be necessary for the asset to reach full maturity. Bitcoin Needs Big Banks? During his interview, Saylor acknowledged some of the recent...

Researchers at Standard Chartered Bank recently claimed that Ether (ETH), the second-largest cryptocurrency by market cap, could rise to 500% of its current price by the year 2026. The bank’s bullish prediction follows a similarly optimistic forecast for Bitcoin (BTC), which it claimed could reach $120,000 before 2025. Why ETH Could Skyrocket Per a research report published by the bank on Wednesday, Ethereum’s dominance compared to other smart contract platforms combined with...