Tag: Bank

Swiss Central Bank rejects Bitcoin for reserves, citing volatility: report

boss

Swiss National Bank Governor Martin Schlegel reaffirmed the central bank’s position against incorporating Bitcoin or other digital assets into its foreign exchange reserves.  Schlegel expressed concerns to Bloomberg regarding Bitcoin’s (BTC) high volatility, instability, and the regulatory challenges associated with cryptocurrencies. These factors were cited as the main reasons for his position.  He highlighted that the Swiss National Bank’s reserves are meant to support monetary policy, and he noted that digital assets do not align with this goal. This position is consistent with Schlegel’s earlier remarks. In a November 2024…

Czech central bank official skeptical on Bitcoin reserves amid legal, volatility concerns

boss

Bitcoin’s place in the Czech central bank’s reserves remains uncertain as a senior official flagged legal and volatility concerns. A debate over Bitcoin’s (BTC) place in Czech central bank reserves still lingers with board member Jan Kubicek voicing skepticism citing legal uncertainties and price swings. This comes even as the bank explores new asset classes, such as Bitcoin, as reported earlier this year by the FT. Jan Kubicek, a board member of the Czech National Bank, said on March 18 that while the bank is analyzing new asset classes he…

Bakkt stock tumbles nearly 30% after losing Bank of America and Webull

boss

Crypto firm Bakkt’s share price plummeted over 27% on March 18 after the company revealed that two of its largest clients, Bank of America and Webull, would not be renewing their commercial agreements. In a March 17 regulatory filing, Bakkt said it had received notice of Bank of America not renewing its commercial agreement when the deal expires on April 22. It also disclosed that the brokerage platform Webull had also decided not to renew its agreement when it ends on June 14.  Bank of America represented 17% of Bakkt’s…

Xapo Bank Unleashes Bitcoin-Backed Loans—Borrow up to $1M Without Selling BTC

boss

Xapo Bank is revolutionizing bitcoin finance with a game-changing loan service—borrow up to $1M in USD without selling your BTC. Bitcoin-Backed Loans: A New Era of Crypto Credit Xapo Bank has introduced a bitcoin-backed loan service, enabling qualifying members to secure USD loans without liquidating their bitcoin holdings. The new offering, available through the Xapo […] Original

Crypto companies seeking bank charters under Trump admin — Report

boss

Cryptocurrency and fintech companies are increasingly seeking bank charters in an attempt to grow their businesses under the Trump administration, according to a report from Reuters, which talked to more than half a dozen industry executives. The moves come as the administration is seen as more industry-friendly and there are opportunities to gain the licenses that regulators under previous administrations may have been slow to approve. While discussions about pursuing bank charters are on the rise, it is unknown how many companies will ultimately follow through. It can cost tens…

Xapo Bank opens $1m Bitcoin-backed credit line

boss

Crypto wealth manager Xapo Banks is offering U.S. dollar loans backed by Bitcoin to expand liquidity options for customers. Gibraltar-based Xapo Bank has introduced Bitcoin-backed (BTC) USD loans to discourage BTC selling and provide flexible liquidity pathways for its eligible customers. Xapo Bank users can access up to $1 million in credit by offering their Bitcoin as collateral. Clients will have up to a year to repay the loan, depending on the loan size, and can receive as much as 40% of their BTC’s value in U.S. dollars. According to…

Bank of Korea Rejects Bitcoin for Reserves, Citing High Volatility and Liquidity Concerns

boss

South Korea’s central bank has ruled out adding bitcoin to its foreign exchange reserves, citing extreme price volatility and failure to meet liquidity and investment-grade standards. This stance follows U.S. President Donald Trump’s March 6 executive order promoting bitcoin stockpiling. The Bank of Korea, responding to a query from Rep. Cha Gyu-geun, emphasized that reserves […] Original

Bank of Korea to take ‘cautious approach’ to Bitcoin reserve

boss

The Bank of Korea says it is taking a “cautious approach” to potentially including Bitcoin as a foreign exchange reserve. Officials from the Korean central bank said in a March 16 response to a written inquiry that they have not looked into a potential Bitcoin (BTC) reserve, citing high volatility.  Responding to a question from Representative Cha Gyu-geun of the National Assembly’s Planning and Finance Committee, central bankers said that they have “neither discussed nor reviewed the possible inclusion of Bitcoin in foreign exchange reserves, adding that “a cautious approach…

Bezos-Backed Stark Bank Rises as a Crypto Enabler in Brazil

Stark Bank, a startup backed by Amazon founder Jeff Bezos, has positioned itself as the go-to firm for serving cryptocurrency businesses in Brazil, filling the gap left by traditional institutions. The firm has built part of its business around this service offering, betting on the industry’s future as Brazilians become more comfortable with crypto. Bezos-Backed […] Source CryptoX Portal