Chinese Bank Issues Commercial Paper Worth $16.9 Billion on Blockchain
A Chinese commercial bank issued China’s first asset-backed commercial paper worth $16.93 billion on a blockchain. Go to Source Powered by WPeMatico
Bank
Auto Added by WPeMatico
Spanish Multinational Bank BBVA to Explore Zero-Knowledge Proofs
BBVA and a state-backed research center in Spain have launched a partnership to explore advanced cryptography for financial services. Go to Source Powered by WPeMatico
1.2 Million Italians Can Now Buy Bitcoin From Their Bank
Buying bitcoin just got easier for Italians. The country’s mobile bank Hype has announced a partnership with fintech Conio, enabling customers to buy, sell, and securely store BTC from within their banking app. With over a million Italians choosing to bank with Hype, and 60,000 new customers being onboarded each week, the challenger bank’s decision … Read more
Sending Cash to Friends and Family Through Bitcoin ATMs Is Safer Than Crowding Bank Offices During Pandemic
Transferring money over traditional channels may involve a lot of queuing in lines these days. Authorities around the world are trying to prevent large groups of people gathering in confined spaces to reduce the risk of transmitting the coronavirus infection. Remittances are a lifeline for people in many countries and cryptocurrency ATMs provide a way … Read more
JPMorgan Chase Settles in Suit Over Credit Card Crypto Purchases
JPMorgan Chase has settled a $1 million lawsuit with three men over abrupt changes made to its credit card fees for crypto purchases in 2018 Go to Source Powered by WPeMatico
Wendy McElroy: Crypto is Banking for Anarchists and Average People
“What I love about Bitcoin is that instead of some rich old guy on Wall Street, young poor people are the ones getting rich” —Eric Finman No Longer Is Economic Sovereignty Just for Politicians and Bankers “Cryptocurrency is for the rich”; this pernicious myth causes people to resent crypto and be suspicious of it. An … Read more
Deutsche Bank Reports €5.3 Billion in Net Loss for 2019 as It Counts the Cost of Restructuring
A year of reorganization has left its mark on Germany’s leading financial institution. Deutsche Bank revealed this week it suffered significant losses in the last quarter and all of 2019. The banking giant claims that the damage is “entirely driven by transformation-related effects” such as compensation for sacked employees and devalued assets. Also read: US … Read more
US Bank Silvergate Sees Growth in Crypto Clients, Despite Decreasing Deposits From the Sector
Financial results released by two U.S. banks providing services to the crypto industry have indicated a decline in deposits from digital currency customers. However, a positive trend has been observed as well. One of the crypto-friendly institutions, Silvergate Bank, has seen an increasing number of crypto clients throughout the year. Also read: Swiss Bank Julius … Read more
Swiss Bank Julius Baer Offers New Digital Asset Services With Licensed Crypto Bank SEBA
Switzerland, a nation that’s been quite positive towards crypto business, is facilitating the integration between its traditional financial sector and the blockchain industry. With greater regulatory clarity and stability coming, established banks are plucking up the courage to offer digital asset products and services helped by local fintechs. Also read: Companies Keep Flocking to Swiss … Read more
Low Interest Rates Provide Precarious Protection Against Crisis, World Bank Warns
The latest global debt wave is the largest in the past five decades, the World Bank has acknowledged in a new report. The international institution notes that previous waves of broad-based debt accumulation lead to widespread financial crises. Historically low interest rates this time might not be sufficient to avoid the next meltdown. Also read: … Read more