Tag Archives: Banks

2020 has been so far a challenging year. Issues such as the Australian wildfires and the global COVID-19 pandemic have harmed the planet and its inhabitants. The financial world has also suffered, especially during the first several months. The effects are evident within different sectors of the financial industry. While some have felt adverse consequences during these uncertain times, others have thrived and reached for the stars. BNN Bloomberg’s senior anchor, Jon...

Peter Schiff may hate Bitcoin for having no value and being the money of criminals. Still, his bank Euro Pacific Capital is not without its sins either. A joint investigation by the tax authorities of Australia, the Netherlands, Canada, the United Kingdom, and the United States has Peter Schiff’s bank targeted for allegedly facilitating tax evasion and offering its services to known multinational top criminals. Screenshot of Euro Pacific Capital’s main site, with a picture of...

The Central Bank of Spain published its Strategic Plan for 2020-2024, describing the objectives and strategies it will follow to boost its economy and adapt the country’s finances to the requirements of the modern era, and a CBDC is one of its priorities. The digital world is stealing the attention of the Spaniards. In its “Analysis and research priorities for the Banco de España: 2020-2024“, the Central Bank said it will prioritize the study of the legal, technological and...

Russian billionaire and owner of two giant UK newspapers Alexander Lebedev is looking into launching his own DeFi project. Dubbed The Independent Decentralized Financial Ecosystem (or bank 2.0), it aims to serve as a better performing bank, which benefits all participants.Lebedev Explains The Current Banking ProblemsLebedev, the owner of the UK-based London Evening Standard and The Independent, recently used the latter to publish a post regarding the issues within traditional finance and the...

Contour, the trade finance enterprise based on blockchain, has officially launched. The digital platform is set to deliver a global network and services for trading finance over a distributed ledger, uniting buyers, suppliers, and banks on its platform.Contour Goes LiveSingapore-based Contour has officially announced its step forward, launching its trading network based on blockchain technology. Previously known as Voltron, the firm has a primary focus on Letters of Credit (LC). Few major...

Deutsche Bank is out with it’s latest cryptocurrency report. The global banking giant has discussed central bank digital currencies (CBDCs) in great detail, and their effect on central banks, individuals, and governments.In the discussion pertaining to individuals, DB says that CBDCs could encounter political resistance and encourage social unrest.Central Bank Cryptos Could Make A World Of DifferenceIn it’s latest CIO Special report, German banking heavyweight Deutsche Bank observed that...

It looks like banks and financial institutions are still split right down the middle when it comes to cryptocurrency.Many Banks Are Still Iffy on the Subject of CryptoFor the most part, the gap between both centralized and decentralized finance has been somewhat bridged over the past few months. After all, many banks have now been given the green light to offer crypto custody services to their customers, but how many are looking to do this willingly?It appears many of them are still having...

San Francisco-based cryptocurrency exchange Kraken – arguably one of the largest and most prominent cryptocurrency trading platforms in the western hemisphere – has announced it’s been given the green light to establish its own bank.Kraken Is Opening Its Own BankThis is a unique step forward in the sense that banks and crypto are often complete opposites. Typically, banks are centralized financial institutions that have power over not only who they service, but what services those customers...

In a recent report on stablecoins, the European Central Bank (ECB) questioned the accuracy of their name arguing that it may be misleading to users. The paper also highlighted that stablecoins could have a significant role in a digital economy if adequately regulated.The Name Stablecoins May Not Be A Proper Fit: ECBWhether they are backed by a fiat currency like the US dollar or commodities such as gold, stablecoins were created to provide a “stable” alternative to the highly volatile...

How strange is it that the coronavirus has led to the suffering of banks but the overall establishment of bitcoin as a potentially mainstream asset? According to most analysts, the situation is not strange at all.Bitcoin Is Now More Mainstream Than EverBitcoin was largely speculative prior to the spread of the coronavirus pandemic. People saw it as something that could be invested in and something that could get them a lot of money if they played their cards right, but that’s about it. Nobody...