Tag Archives: Banks

After years of purchasing significant quantities of gold, the Central Bank of Russia will seize buying more as of April 1st. The country announced it yesterday without explaining the move.Local analysts, however, claimed that the nation already has a lot of gold stashed in reserves and might start selling to international investors because of the high demand.Russia Stops Buying GoldThe precious metal is often regarded as the preferable safe-haven investment instrument by many. Individual or...

South Korea’s largest bank, KB Kookmin Bank, is expected to launch a cryptocurrency custody service shortly. The entity has filed a trademark application for KBDAC – KB Digital Asset Custody back in January for various services, including investment, and digital asset trading.KBDAC Launching Soon?A local report from today informed that the giant South Korean bank has applied for the patent at the end of January this year with the Korean Intellectual Property Office. According to the latter,...

Efforts to contain the coronavirus pandemic have erupted into a disastrous and panicked shutdown of the economy by Western governments. The term “Marshall Law” (correct spelling: “Martial Law”) trended on Twitter last weekend. While many scoffed at this characterization of coronavirus containment efforts, it’s not entirely off base.In New York City, police can arrest bar and restaurant owners if they remain open. That’s to stay compliant with the mayor’s strict executive order to lock down...

The latest Bitcoin adoption news came from one of the oldest Italian banks – Banca Sella. The bank launched a Bitcoin trading service conducted on its platform called Hype. The beta testing should be done within the next few days, and the service will be online for all customers.Bitcoin Trading Available to 1.2M ItaliansFounded in 1886, Banca Sella is among the well-known banking institutions in Italy. Its Hype platform, which now includes a Bitcoin trading service, already operates with over...

In a time of economic uncertainty, Brian Brooks, the Chief Legal Officer of Coinbase, has publicly stepped down from the company and is now moving on to serve the U.S. government as the Chief Operating Officer and First Deputy Comptroller of the OCC.According to the Office of the Comptroller of the Currency (OCC), Brooks’ new position will become effective as of April 1st, 2020. The designation was made by the OCC’s current Secretary of the Treasury, Steven T. Mnuchin, stating that Brooks,...

It has been only a few days after India’s Supreme Court lifted the 2018 RBI ban on cryptocurrency usage, and the Reserve Bank of India is preparing to counter the decision. A new report noted that the RBI is planning to file a review petition as it fears virtual assets might put the banking system at risk.RBI Fights BackAs Cryptopotato reported on Wednesday, the Supreme Court of India finally reversed the ban on cryptocurrency trading and holdings in the large country. The excitement quickly...

Boerse Stuttgart is the second-largest exchange in Germany. According to an official release, the venue has launched an unprecedented product in the cryptocurrency industry. The new tracker has a product value that represents the inverse performance of Bitcoin.Short Bitcoin (BTC) ETP On Boerse StuttgartBoerse Stuttgart continues to expand its products associated with different cryptocurrencies. Per a recent release, the venue is taking a step forward, listing a new, supposedly unprecedented...

The U.S. state of Wyoming is leading the way in blockchain and cryptocurrency adoption in the country with a new cryptocurrency-native bank. A former Wall Street veteran, Caitlin Long, announced the Avanti Bank, saying that it will be active in early 2021.The First U.S. Crypto-Friendly BankLong, who previously helped the state of Wyoming to implement 13 blockchain laws, made the announcement yesterday. In a series of tweets, she introduced the Avanti Bank – “a new U.S. bank to serve [the]...

The oldest privately owned bank in UAE, the Mashreq Bank, will utilize blockchain, according to the bank’s Executive VP. By using the technology’s security and easier integration, they will create a platform for smart banking.Mashreq Bank To Use BlockchainFounded in 1967, Mashreq Bank has been a pioneer in many different aspects in the banking sector. Aside from being the first UAE bank to install ATMs and the first to issue debit and credit cards, the large bank will lead in blockchain...

The Swedish Central Bank will establish a test group for its potential digital currency – the e-krona. It will run for a year and should confirm if there’s an actual need case for launching a digital krona.Testing The E-KronaRecently reported by local news, the Riksbank is ready to launch a group to examine the potential e-krona. The participants will play out different scenarios to determine if the digital currency’s performance is sufficient and reliable. A statement from the bank outlines...