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Tag Archives: Banks

Isreali Banks Should Offer Services to Crypto Businesses, According To Attorney General

The Israeli Attorney General, Dr. Avichai Mandelblit, has stated that banks in the country should not stop providing banking services to crypto-related customers and firms despite such recommendations from the Central Bank of Isreal.Mandelblit is at the mass-media headlines these days because of another major reason – Israel’s Prime Minister Benjamin Netanyahu’s latest investigations.Banks Should Make Informed DecisionCryptocurrencies like Bitcoin are anonymous, compared to traditional wire...

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Bullish Case For Bitcoin As Interest Rates Worldwide Going To Zero, Says Mark Yusko

Interest rates across the globe are going to zero, and it’s bullish for Bitcoin, according to Morgan Creek Capital Management Founder and CEO, Mark Yusko. He also noted that the recent price drop should not bother investors, and they should focus on purchasing more.Zero Interest Rates Good For BitcoinYusko recently spoke in a CNBC interview regarding the cryptocurrency market, and Bitcoin in particular. He strongly believes the largest digital asset will continue increasing its value in...

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Russia’s Central Bank Completes Blockchain Pilot To Issue Tokenized Assets

The Central Bank of Russia announced in late December that it would be testing out its state-backed cryptocurrency within a regulatory sandbox. It appears that the tests are now over and have been completed.Russia’s Central Bank And BlockchainAccording to a local report, Russia’s Central Bank has completed a pilot project for the issuance and circulation of “digital rights.” This allows it to digitize goods, services, securities, and other assets as well.Using the platform, any organization...

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Brazil’s Largest Crypto-Friendly Bank Posts 42% Rise In Q4 2019

The largest standalone investment bank in Latin America, Banco BTG Pactual SA, recorded an impressive 42% net income growth during last year’s fourth quarter.The bank is regarded as one of the cryptocurrency-friendly traditional banking establishments. Last year, BTG started utilizing the Ethereum and Tezos blockchain networks for security token offerings.BTG’s Net Income On The RiseAs reported earlier today by Reuters, BTG’s Q4 numbers have exceeded analysts’ expectations.The recurring net...

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Ripple Partners Up With Egypt’s National Bank For Faster Remittance Payments

Ripple’s expansion continues with a new partnership in Egypt. The country’s national bank has recently signed a co-operation agreement to join the blockchain-based payments network RippleNet to implement remittance payments.Ripple Partners With NBEThe National Bank of Egypt is the oldest and largest bank in the country. As of yesterday, the NBE is partnering up with Ripple. The collaboration aims to leverage Ripple’s blockchain-based payments network RippleNet to facilitate faster and cheaper...

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Deutsche Bank: Bitcoin Is Too Volatile, Cash Will Survive

Bitcoin is yet too volatile to threaten the existence of cash, and the latter will survive, states a new report conducted by Deutsche bank. Moreover, the report claims that digital assets will help with rebalancing the global economic power.Deutsche Bank had seen better years than in 2019. The German bank had to layoff 18,000 of its employees during recent July as a part of a longer-term reduction plan to cut its workforce to 74,000 by 2022.As of writing these lines, the bank’s market cap is...

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Opinion: The Fed Creates New Money, Binance’s Changpeng Zhao (CZ) Destroys His

At its first policy meeting of 2020, the Federal Reserve didn’t change much. As expected, the Federal Open Market Committee decided not to raise interest rates. The Fed will keep repo operations in overnight money markets going until April.But Fed Chair Jerome Powell did walk somewhat of a tightrope trying to explain what the Fed is doing. The U.S. central bank has expanded its balance sheet by $390 billion since September. But one cryptocurrency has done the opposite.Many market watchers...

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China Should Slow Down On CBDC, According To Former Deputy Governor At People’s Bank Of China

Central banks have been contemplating the idea of creating their own cryptocurrencies for a while now. China has been one of the first countries to express its intentions in this regard. The country’s CCIEE chair even stated that they will be the first to launch its central bank digital currency (CBDC). A former deputy governor of the People’s Bank of China (PBoC), however, said that they should slow it down.China Should Slow Down With Its CryptocurrencyTalks of China issuing its central bank...

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Ticking Bomb 2020: Growing Number of Banks Are Introducing Negative Interest Rates

Negative rates are becoming exceedingly popular among central and local banks around the world, and the trend extends in Germany with the start of 2020. Amid this, Bitcoin’s pre-programmed inflation rate raises the question if it could serve as a full-on alternative.Simply put, having negative rates means that instead of receiving interest income on cash deposits, the banking institutions charge a fee for storing the money. The general idea is to incentivize banks to lend more funds freely,...

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Bitcoin Price Finds Crucial Support Ahead Of Chinese New Year: Crypto Weekly Market Upadte

Bitcoin went through yet another week full of volatility and considerable market movements. The cryptocurrency decreased by a total of about $400 in the past seven days. This happens just before the Chinese New Year, and history revealed that it has historically been a rather bad time for Bitcoin. However, it’s also worth noting that the world’s largest cryptocurrency managed to defend the critical support levels at around $8,200 and $8,300 and bounced back from there. As such, it appears...

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