Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty Images HELSINKI, Finland — Klarna will become profitable a...
Tag: Banks
Japan CBDC Trial Set to Rollout with Major Banks in 2023
The Bank of Japan will roll out a pilot program for its central bank digital currency project to three major Japanese banks in spring 2023. The pilot’s launch will dovetail with the bank’s one-year CB...
Central banks can use Bitcoin to fight off sanctions: Harvard research
A research paper published at Harvard university highlighted how central banks can use Bitcoin (BTC) to hedge against financial sanctions from fiat reserve issuers. A working paper, titled “Hedging S...
Stablecoins could offer central banks a shortcut, says New York Fed advisor
Stablecoins could offer central banks a shortcut to having their own digital currencies, a New York Federal Reserve advisor said at an event in London on Tuesday. “Instead of issuing a retail [...
Citigroup faulted by U.S. banking regulators for poor data management in ‘living will’ review
CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC. Alex ...
Credit Suisse shareholders greenlight $4.2 billion capital raise
The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. Arnd Wiegmann | Reuters Credit Suisse shareholders on Wednesday approved a 4 billion Swiss franc...
Credit Suisse projects $1.6 billion fourth-quarter loss
Switzerland’s second largest bank Credit Suisse is seen here next to a Swiss flag in downtown Geneva. Fabrice Coffrini | AFP | Getty Images Credit Suisse on Wednesday projected a 1.5 billion Swi...
FalconX resumes use of Silvergate’s payment network
FalconX, the crypto prime broker, resumed use of Silvergate’s payment network after pressing pause on the partnership last week. “Due to the heightened risk environment and Silvergate’s wire pay...
From Harvard, Of All Places, Comes An Endorsement For (Some) Central Banks To Hodl Crypto
A Harvard economist believes Bitcoin can help countries hedge their risk against international sanctions. getty Just as plummeting values and an infectious scandal have darkened the sky for cryptocurr...
Three U.S. senators ask Fidelity to reconsider bitcoin exposure in retirement plans
Three U.S. senators have again asked Fidelity Investments to reconsider a decision to allow retirement plan participants to invest in bitcoin, saying the industry has become increasingly “volati...
Fintech banking app Dave wants to dispel doubts after 97% stock plunge
Mobile banking app provider Dave has enough cash to survive the current downturn for fintech firms and reach profitability a year from now, according to CEO Jason Wilk. The Los Angeles-based company g...
Aussie Banks Cautious With Crypto Plans During Market Meltdown
A number of banks and financial institutions in Australia remain unperturbed about the crypto market slump. Some are still planning to push ahead with their plans to embrace web3. According to OSL, a ...
U.S. Banks Launch a Blockchain Test for the Digital Dollar
Join Our Telegram channel to stay up to date on breaking news coverage The bankruptcy of FTX has rocked the cryptocurrency market to its very core, yet traditional financial institutions are stepping ...
US Banks Are Teaming Up To Explore The Possibilities Of A Digital Dollar With The Federal Reserve ⋆ ZyCrypto
Advertisement     Several U.S. banking institutions are working on a Proof-of-Concept digital money platform that could morph into a CBDC. The financial institutions a...
Taiwan Banks Cut Loans In China Amid Slow Mainland Economic Growth, Military Tension
Fubon Financial Holding is among the Taiwan financial institutions with mainland China business. Photographer: Maurice Tsai/Bloomberg News Taiwan banking industry loans to mainland China dropped by 16...
Retail Discounter TJX Is Thriving as Inflation Pressures Consumers
Text size These reports, excerpted and edited by Barron’s, were issued recently by investment and research firms. The reports are a sampling of analysts’ thinking; they should not be considered the vi...
New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’ – Bitcoin News
Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlem...
Wall Street Banks Seen as Unlikely Saviors as Crypto Firms Struggle
It took years for the crypto industry to gain trust – and capital – from the major institutional players on Wall Street. And just as more big traditional players seemed on the cusp of making a move in...
FTX illustrated why banks need to take over cryptocurrency
FTX — the three letters on everyone’s lips in recent days. For those active in the crypto space, it has been a shattering blow as a tumultuous year for crypto nears an end. The repercussions are seve...
Banks still show interest in digital assets and DeFi amid market chaos
The cryptocurrency sector is the Wild Wild West in comparison to traditional finance, yet a number of banks are showing interest in digital assets and decentralized finance (DeFi). This year in partic...
Crypto prime broker FalconX will no longer use Silvergate’s SEN network
Crypto prime broker FalconX will no longer use the Silvergate Exchange Network (SEN), according to an email sent by FalconX to clients and obtained by The Block. “Out of an abundance of caution ...
Crypto startup Ripple seeks license in Ireland to drive EU expansion
In this photo illustration of the ripple cryptocurrency ‘altcoin’ sits arranged for a photograph on April 25, 2018 in London, England. Jack Taylor | Getty Images News | Getty Images U.S.-...
U.S. Banks Launch a Digital Dollar Blockchain Pilot
While the crypto market is shaken to its core by the failure of FTX, traditional financial institutions are taking a step into the world of digital currency. A group of banking institutions—including ...
Charlie Munger Compares Bitcoin to Child Trafficking, Likes Central Banks
Berkshire Hathaway’s Vice Chairman remains staunchly skeptical of crypto in the wake of FTX’s collapse. Having previously characterized Bitcoin as “rat poison” and a “venereal disease,” Charlie Munge...
U.S. Banks Launch Digital Dollar Pilot along with N.Y. Fed
U.S. banking giants are gearing up to start a 12-week digital dollar blockchain pilot in partnership with the Federal Reserve Bank of New York. A group of banking institutions, including Citigroup Inc...
RLN Testing Begins For CBDC Betterment- U.S Banks
Mission CBDC on the last stage of Development testing begins. More than ten traditional banking giants are working together for CBDC development. According to the announcement of the traditional fin...
FDIC to prioritize crypto risk assessment amid rising interest among banks
Disclaimer: Based on FDIC’s response to Cointelegraph, the article has been updated to confirm that the banks reported a solid Q2 performance by earning a combined net income of $64.4 billion. I...
US CBDC Proof of Concept Sees Big Banks Team Up With Fed
There has been some movement in the lethargic halls of America’s central bank regarding a CBDC. A number of banking giants have come together with the Federal Reserve to work on the project. Several p...
Silvergate stock sinks 12% on FTX links
Crypto bank Silvergate shares tanked 12% as the ripple effects of FTX’s collapse continue. Last week, the La Jolla-based crypto bank said its exposure to FTX was limited to deposits, but ...
NY Fed launches 12-week CBDC pilot program with major banks
The Federal Reserve Bank of New York’s Innovation Center, or NYIC, announced that it would be launching a 12-week proof-of-concept pilot for a central bank digital currency, or CBDC. In a Nov. 15 anno...
Goldman paid $12 million to settle sexism complaint, Bloomberg reports
Goldman Sachs logo displayed on a smartphone. Omar Marques | SOPA Images | LightRocket via Getty Images Goldman Sachs paid more than $12 million to a former female partner to settle claims that senior...
Bitcoin buyers being drawn by rising prices and not distrust of banks, details inside
As per a new Bank for International Settlements (BIS) report, cryptocurrency investors are driven by the rising prices of tokens rather than a distrust of banks. BIS on 15 November published “BIS Work...