e-CNY payments were used to purchase wealth management services. Suzhou is one of the first four pilot cities to launch digital renminbi – China’s legal currency. Soochow seeks to expand the level of ...
Tag: Bank
Dow Jones Futures: Bank Of Japan Surprise; Tesla Jumps
Dow Jones futures were little changed overnight, along with S&P 500 futures and Nasdaq futures, after the Bank of Japan unexpectedly stayed the course. United Airlines and Moderna stock jumped on ...
Crypto Bank Silvergate Capital Posts Staggering $1,000,000,000 Loss Last Quarter Due to Bear Market
A digital asset-friendly bank known for serving crypto firms is announcing tremendous losses from the last quarter of 2022. Silvergate Capital, which became a publicly traded company in 2019, is known...
Bank of England governor questions need for digital pound
Andrew Bailey, the Bank of England (BoE) governor, expressed skepticism on the need for a digital pound shortly after finance ministers from eurozone countries backed further work on a digital euro. ...
UK Central Bank Governor Queries the Necessity of Digital Pound
5 hours ago | 2 mins read News As per Andrew Bailey, the UK has a wholesale central bank money settlement system. The euro-zone finance ministers recently conveyed their support for the continuing dev...
Silvergate shares jump in pre-market trading despite loss as bank well-capitalized
Silvergate Capital shares rallied despite the firm’s $1 billion fourth-quarter loss as business is intact, KBW analysts said. Shares in the La Jolla-based bank were trading around $15.60 b...
Bank of America says CBDCs and stablecoins could revolutionize money
As the cryptocurrency sector grows larger, major institutions are starting to pay attention and are increasingly investigating the potential future of digital assets and the possibility of their adopt...
Why Japan Is Urging Its Global Counterparts To Oversee Crypto ‘Bank Style’
During the early years of bitcoin wherein crypto regulation around the asset class was lax, Japan was among countries that traded and managed it. Mt. Gox, which was once known as the largest crypto ex...
Former Bank of England Advisor States CBDCs Are Not Worth The Risk
Many countries have been on the quest to launch CBDCs. According to data from Crowdsourcingweek, up to 105 countries have shown interest in these central bank digital currencies. Out of these countrie...
Tanzanian Central Bank Adopts ‘Phased and Risk-Based Approach to Adoption of CBDC’ – Africa Bitcoin News
After months of research, the Tanzanian central bank announced recently that it had chosen a more cautious and risk-based approach towards the adoption of its central bank digital currency (CBDC). Dur...
Brazil’s Bradesco Tokenizes First Batch of Bank Credit Notes
10 hours ago | 2 mins read Blockchain News The bank has tokenized the first batch of bank credit notes, worth about $2 million. The operation was carried out in collaboration with Bolsa OTC. As one of...
When is it time to close the ‘Bank of Mom and Dad’? Wealth managers advise the best ways to support your adult kids amid looming recession
Parents to adult kids across the U.S. are considering coming out of retirement or refinancing their homes in order to prop up their kids’ bank accounts – and the cash requests are only goi...
XRP Rival Stellar (XLM) Turns Green as Commercial Bank Runs Pilot Program for New Digital Currency System
XRP‘s most prominent rival is rallying this week as a Ukrainian banking giant announces the results of using its blockchain in a new digital currency system pilot program. Stellar (XLM) is a multi-cur...
Tanzanian Central Bank Adopts Cautionary Approach in CBDC Analysis
The East African government has reportedly organized a multidisciplinary technical team. At least four nations have openly scrapped CBDC adoption plans. The Tanzanian central bank is still thinking ab...
Bank of Thailand To Legalize Virtual Banks by 2025 To Boost Economy
By the end of 2023, applications will be ready for virtual banks to get licensed. By the year 2024, the Bank of Thailand plans to have issued three distinct licenses. The Bank of Thailand has announce...
First Virtual Banks By 2025 From Bank Of Thailand
The announcement that the Bank of Thailand intends to initiate the very first transaction in the country via virtual banking was made by the institution. According to the findings of a research conduc...
Indian Central Bank Governor asks for a blanket ban on Crypto
Shaktikanta Das, the Indian Central Bank governor, said that crypto is gambling. The governor also called for a blanket ban on crypto at a Business Today event. Given the skepticism shown by governmen...
India’s Central Bank Head Calls for Blanket Ban on Crypto
Alex Dovbnya RBI governor Shaktikanta Das remains highly skeptical of cryptocurrencies The Reserve Bank of India (RBI) has issued a stark warning regarding the use of Bitcoin and other digital currenc...
President Herbert Hoover Saves the Day for a Crypto Bank? Yeah, That’s Weird
Basically, Silvergate is the bank for a lot of crypto businesses (1,300+, according to the company website, if you include “fintechs”), which tend to have problems maintaining banking relationships. A...
Bank of Thailand to allow first virtual banks by 2025
Bank of Thailand (BOT) has disclosed plans to allow virtual banks to operate in the country for the first time. Financial firms will be able to provide services by 2025, a Bloomberg report shows. The...
Crypto Ban Proposed by Bank of International Settlements as Regulatory Approach
Vladislav Sopov To ban, to contain, to regulate: Three approaches suggested by BIS to prevent 2022 collapse from happening again Contents Crypto should be banned, isolated or regulated, BIS states Are...
Reserve Bank of India Governor Criticizes Cryptocurrencies
54 mins ago | 2 mins read Bitcoin News Das stressed that cryptocurrency is “nothing but 100 percent speculation.” The RBI Governor was speaking at a Business Today event. When it comes to Bitcoin and ...
Bank of America sees a 15% upside
Shares of Caterpillar Inc (NYSE: CAT) have gained nearly 60% since late September but a Bank of America analyst says it’s still not too late to buy this stock. Caterpillar stock has upside to $295 Mic...
Bank of America Releases Better than Expected Q4 Earnings Report
In the released earnings report, Bank of America recorded a net income of $3.6 billion for the fourth quarter while client balances stayed flat at $1.6 trillion. American multinational investment bank...
Bank for Central Banks Floats Ways to Contain Crypto, Including Ban
After a series of blowups in the crypto industry, the Bank of International Settlements is exploring de-risking policies for central banks, with a ban on crypto activity one potential option. Economis...
Bank of America CEO sees ‘mild recession’ in 2023 and is preparing for worse
Bank of America CEO Brian Moynihan said Friday the bank is preparing for a potential recession this year, including the possibility of a sharper downturn where unemployment climbs rapidly. “Our ...
French Investment Bank Société Générale Withdraws $7 Million From MakerDAO
– Advertisement – Société Générale has minted a loan of $7 million worth of DAI from MakerDAO. The investment firm used home loan bonds as collateral to withdraw the stablecoins. Société...
Bank of America’s Subramanian says S&P 500 earnings risk a 10% drop in 2023
“ ‘We are likely to see some downward revisions [to earnings] and our forecast for profits growth for 2023 is $200 for the S&P 500. That would mean about a 10% decline in earnings peak to trough.’...
JPMorgan, Wells Fargo, Bank of America and Citi beat earnings expectations, but worries about headwinds remain
JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. managed to beat Wall Street’s reduced expectations for their fourth-quarter profits as higher interest rates b...
U.S. Debt Default ‘Likely’ in Second Half of 2023: Bank of America
Many investors are concerned that with the far-right wing of the Republican Party holding sway in the House of Representatives, a debt default is coming. If the view of Ralph Axel, rates strategist at...
Why Crypto Is ‘Nothing But Gambling’ To India’s Central Bank Governor
Reserve Bank of India Governor Shaktikanta Das has no love for crypto. In fact, he wants to get rid of it through an outright ban, saying that these “are nothing but gambling.” Das said in his speech ...