Leading global banks kicked off a 12-week pilot together with the New York Federal Reserve. The project was first reported by The Block. The so-called regulated liability network will se...
Tag: Banks
Credit Suisse sells most of its securitized products business to Apollo as it speeds up restructure
Credit Suisse on Tuesday announced that it would accelerate the restructure of its investment bank by selling a significant portion of its securitized products group (SPG) to Apollo Global Management....
Bitcoin buyers drawn by rising prices, not dislike for banks: BIS report
Bitcoin (BTC) investors are more likely enticed by the cryptocurrency’s rising prices, rather than their dislike of banks or its perceived use as a store of value, a new report from the Bank for Inter...
Some central banks have given up on the race for digital currencies
Join Our Telegram channel to stay up to date on breaking news coverage Some jurisdictions have slowed down or given up on the race to introduce a central bank digital currency (CBDC) as nations compet...
New York Fed, several big banks testing ‘regulated liability network’
The Federal Reserve Bank of New York is poised to unveil a proof-of-concept for “regulated liability networks” — an experiment around tracking and transmitting tokenized debt issued by an array of reg...
Twitter Buyout Loans Get Bid at 60 Cents as Banks Sound Out Investors
(Bloomberg) — Wall Street banks that lent $13 billion to help fund Elon Musk’s buyout of Twitter Inc. have been quietly sounding out hedge funds and other asset managers for their interest in a ...
How Cryptocurrencies Have Impacted Central Banks In 2023
Most evidently, the bomb of cryptocurrency in this world has changed the way we see and understand money. Even central banks have taken a dire impact due to the ongoing rise in the use of cryptocurren...
Mastercard Bridges the Gap Between Banks and Crypto
Mastercard is looking to bring the traditional world of banking and crypto together by making it easier for the former to get involved with the latter. The company has announced a new program that wil...
Some central banks have dropped out of the digital currency race
As countries around the world race to launch a central bank digital currency (CBDC), some jurisdictions have slowed down or dropped out of the race altogether. While many observers were pushing a narr...
This bank is now offering a $1,500 bonus for opening a new account — and it’s not the only lucrative bonus banks are offering right now
To attract new customers, many banks are now offering lucrative cash bonuses — anywhere from $100 to $2,000 — for simply moving money into their various savings and checking accounts. A recent Reddit ...
Could banks be an unlikely ally for crypto against CBDCs?
The rollout of central bank digital currencies across the world is all but assured. Is there a place for banks, and could they become an unlikely ally for crypto? In a blog post on the BitMEX cryptocu...
Rohit Chopra is cracking down on big banks and Big Tech. Is he out of control?
In March, Rohit Chopra was invited to give a virtual speech at the University of Pennsylvania, an Ivy League school known for churning out finance-minded graduates who fill the rosters of Wall Street ...
Banks like JP Morgan, DBS Transacts Over Blockchain
Renowned investment banking firm JP Morgan Chase meant to be involved in finance and transactions, after all this is what it’s competency is. Yet the instance of JP Morgan involved in a tr...
Saxo Bank’s avg. FX volume sees a monthly gradual fall
The currency market plays hide & seek, especially in October 2022. Saxo Bank reported a lower figure with larger disappointment in its Commodities section. The month-over-Month figure for average ...
Coinbase 1.5% APY on USDC Can’t Keep Up With Traditional Banks
Coinbase customers can earn 1.5% APY (Annual Percentage Yield) by holding USDC coins. But, traditional banks offer better yields than Coinbase without regulatory concerns. Coinbase, one of the largest...
Consumer protection should be key in digital asset projects
GP: JPMorgan office S3studio | Getty Images News | Getty Images SINGAPORE — Banks have to prioritize consumer protection as they embark on digital asset experiments, said Umar Farooq, chief executive ...
eNaira CBDC ‘a massive failure’ despite Nigerian central bank’s claims to the contrary
Geopolitical Analyst Nick Giambruno called Nigeria’s eNaira project a “massive failure” while saying the outcome has not been “what the elites hoped for.” The eNaira launched on Oct. 25, 2021, with Pr...
Binance CEO Wants To Buy Banks
CEO Changpeng Zhao (CZ) is looking into potentially buying banks in order to bridge the gap between traditional finance and cryptocurrency. CZ’s Plan For Binance CZ recently talked about Binance inve...
Goldman Sachs unveils crypto classification system, aimed at institutional investors
A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010. Daniel Acker | Bloomberg | Getty Images Goldman Sachs is making a bid t...
After her accountants pulled her aside, supermodel Tyra Banks — worth an estimated $90 million — realized she was doing this money move ‘to a fault.’ Ironically, some pros say it’s a mistake you should make too
Tyra Banks Getty Images for TIME Tyra Banks is worth an estimated $90 million, according to CelebrityNetWorth.com, but the supermodel and businesswoman, who grew up pinching pennies, admitted to Money...
Fed approves another jumbo interest-rate hike but also signals go-slower strategy
The Federal Reserve on Wednesday approved the fourth straight jumbo increase in a key U.S. interest rate and signaled rates are likely to go higher than previously forecast. Yet the central bank also ...
Wells Fargo mortgage staff brace for layoffs as U.S. loan volumes collapse
Mortgage volumes at Wells Fargo slowed further in recent weeks, leaving some workers idle and sparking concerns the lender will need to cut more employees as the U.S. housing slump deepens. The bank h...
BIS and multiple central banks to explore CBDC trading and settlement
The Bank for International Settlements (BIS) has announced plans to explore cross-border settlement and trading involving the central bank’s digital currencies (CBDC) powered by decentralized finance ...
Bank of England set for biggest rate hike in 33 years, but economists expect dovish tilt
Buses pass in the City of London financial district outside the Royal Exchange near the Bank of England on 2nd July 2021 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images LONDON — The ...
JPMorgan Chase unveils payments platform for landlords and tenants
A JPMorgan logo displayed on a smartphone. Omar Marques | SOPA Images | LightRocket via Getty Images JPMorgan Chase is betting that landlords and tenants are finally ready to ditch paper checks and em...
Credit Suisse shares are a ‘steal,’ say new Saudi backers SNB
The chairman of one of Credit Suisse’s newest and biggest shareholders called on the beleaguered bank to deliver a swift overhaul and return to a “very stable, conservative Swiss banking p...
Banks Should Approach Crypto Investments With Extra Caution, Says FDIC Chairman ⋆ ZyCrypto
Advertisement     The Federal Deposit Insurance Corporation (FDIC) has cautioned banks against rushing into crypto-related activities without intensely assessing risks...