Tag Archives: Banks

The large American multinational bank Goldman Sachs has appointed a pro-blockchain head of its digital asset department – Mathew McDermott. In a recent interview, McDermott expressed his views that the global financial scene should be digitalized and even hinted that Goldman is exploring the possibility of launching its own stablecoin.Pro-Blockchain Head At Goldman SachsHeadquartered in New York City, Goldman Sachs has not displayed much favoritism towards the cryptocurrency industry in the...

Bitcoin experienced a rough period earlier in the year, but at press time, the currency is trading for just under $11,700, and is at the highest point its been in roughly one year.Bitcoin Is At Its Strongest Point in 12 Months2019 was relatively shaky for the world’s leading cryptocurrency, trudging along during the first three months of that year before spiking into the $5,000 range by the time April came along. By mid-summer, the currency had shot up to well over $13,000, but eventually...

The Chinese central bank digital currency (CBDC) could be approaching its long-anticipated launch as new reports indicated that multiple local commercial banks have begun conducting trials of a digital wallet application linked to the CBDC.Chinese Banks Test Digital Wallet App For CBDCIn the latest turn of events regarding China’s future digital currency, a Reuters report asserted that several large state-run commercial banks are conducting internal testing of the digital wallet app....

Central bank digital currency (CBDC) fever appears to be heating up across the APAC region as The Philippines announces plans to study the possibility of issuing its own sovereign virtual “coin.”Committee to Study Modalities for Possible CBDC IssuanceAccording to a report by Bloomberg on Wednesday (July 29, 2020), the Bangko Sentral ng Pilipinas (BSP) governor, Benjamin Diokno, revealed that the central bank has set up a committee for a potential CBDC project. The group will consider the...

Bitcoin has been experiencing some extremely bullish patterns as of late. The currency has managed to spike by roughly $2,000 in just a matter of weeks, jumping from the low $9,000 range beyond $11,100 at the time of writing.The Bitcoin Price Surge Could Easily ContinueThe currency recently rose by more than 12 percent in a single 24-hour period, marking the highest it’s been in more than six months. This represents a nice change for the world’s number one cryptocurrency by market cap, which...

Charles Edwards – the digital asset manager at Capriole – says the price of bitcoin could easily shoot up to $20,000 if U.S. banks put in at least one percent of their assets into crypto.Charles Edwards: Banks Can Make BTC Hit $20,000This may be asking much from banks, but one percent, for the most part, isn’t much, and it looks like interest in bitcoin has been increasing over the past several months between both retailers and institutional players alike, so perhaps the figure he’s...

Bitcoin has shot up at the time of writing, and while Live Bitcoin News just reported two hours ago that that the reason may have something to do with a second round of stimulus checks, perhaps the reasoning for bitcoin’s sudden surge has more to do with the fact that banks and crypto suddenly appear to be getting along.Banks Have Opened the Door to CryptoBanks and crypto have never been the best of friends. For the most part, it seemed as if banks were terrified of cryptocurrencies in that...

National banks and federal saving associations can now offer crypto custody services to customers following approval from regulators in the country.OCC Okays Crypto Custody Operations for US Federal BanksAccording to a letter issued by the Office of the Comptroller of the Currency (OCC) on Wednesday, U.S. Federal banks can now offer crypto custody services. The decision follows last month’s request by the OCC for public input on the matter.As part of the letter, the OCC explained the...

A strategic partnership between the two companies is to begin soon. The internet-based conglomerate SBI Financial Services (a subsidiary of SBI Holdings, “SBI”) has made an agreement with B2C2 to acquire a $30 million minority stake at the firm as a first leap into future cooperation.First Steps In A Strategic Partnership According to a recent report, the two companies are to collaborate on providing cryptocurrency assets and services to millions of clients across the globe. They also intend...

In its latest report, the Bank of International Settlements doubled-down on its narrative that the COVID-19 pandemic has exemplified the need for central banks to accelerate the development of central bank digital currencies (CBDCs).BIS outlined the ongoing payment digitalization phase and predicted that whoever launches such currency first will ultimately prevail.BIS: Payment Digitalization Comes FastThe report noted that the financial sector is currently in a significant transitioning stage...