Bank of Brazil Becomes the First State-Backed Bank to Allow Customers Exposure to a Crypto ETF – Finance Bitcoin News

Brazil’s first crypto ETF debut is postponed, but not because plans have failed whatsoever. The Bank of Brazil (Banco do Brasil) is now joining the bandwagon of ETF issuances, following the same steps as Bank Itaú and BTG Pactual did. New Launch Date Set for April 26 According to a letter sent by Hashdex to its clients, the state-backed banking institution will be able to offer its customers the possibility of buying the crypto ETF of Hashdex, which will have the ticker “HASH11.” That said, the Bank of Brazil’s customers…

Nigeria’s SEC in Talks With Central Bank of Nigeria Over Crypto Regulation— 2020 Crypto Guidelines Still Suspended – Regulation Bitcoin News

Nigeria’s Securities and Exchange Commission (SEC) has revealed that talks with the Central Bank of Nigeria (CBN) regarding the regulation of cryptocurrencies are ongoing. The securities regulator also reiterated that due to a CBN directive that was issued on February 7, 2021, the crypto guidelines it issued in September 2020 remain suspended. Crypto Guidelines Set Aside However, the regulator promises that at the conclusion of its engagements with the CBN, stakeholders will be informed of the outcome. Meanwhile, in his comments that were made during a Q1 Capital Market Committee…

S&P 500 Drops from Record High as Bank Shares Helped Prevent Stock Market Freefall

The general losses in the stock market were cushioned by bank shares after their better-than-expected earnings releases. The United States stock market on Wednesday recorded a mixed session result as gains in bank shares helped prevent a broader market freefall. The S&P 500 Index (INDEXSP: .INX) dropped 0.41% lower to 4,124.66 after hitting a new high in volatile trading. The Dow Jones Industrial Average (INDEXDJX: .DJI) added 53.62 points atop a 0.16% gain to close the session at 33,730.89. The Nasdaq Composite (INDEXNASDAQ: .IXIC) pared off some of its gains…

Brazil’s Central Bank President Expects to Have News on a CBDC ‘Soon’ – Finance Bitcoin News

The largest country in Latin America could have its central bank digital currency (CBDC) soon, as the Brazilian central bank is taking steps towards creating it. Recently, the Banco Central do Brasil (BCB) president hinted at the possibility of having news on the matter “soon.” No Decision Has Been Made on Whether the Digital Real Will Be Interest-Bearing During an online debate hosted by the Bank of Spain, cited by Reuters, Roberto Campos Neto highlighted that the central bank is “making progress” on the plans to digitalize the Brazilian real.…

European Central Bank releases results of digital euro consultation

The European Central Bank has published the results of a public consultation on a potential digital euro as the institution inches closer to deciding whether to formally study such an initiative.  According to a Wednesday announcement, the ECB received more than 8,200 responses to its public digital euro consultation — a personal record for the bank regarding participation in a public consultation. Of the total responses, 47% came from Germany, with a significant amount also coming from Italy and France, accounting for 15% and 11% of total responses, respectively. The majority of…

South Korea’s largest bank joins Hedera Governing Council

Shinhan Bank, South Korea’s largest financial institution by total assets, has joined the governance council overseeing the Hedera network. In an April 14 announcement, Shinhan announced it had become the latest member of the Hedera Governing Council to expand its efforts in the field of “digital transformation.” Hedera touts its hashgraph as an enterprise-grade blockchain platform capable of processing thousands of transactions per second. Shinhan representatives emphasized growing client demand for enhanced efficiency and security in financial services, stating: “Hedera’s public distributed ledger in particular is uniquely suited to meet…

European Investment Bank to Harness Blockchain Technology for Bond Sale

The European Investment Bank (EIB) intends to deploy blockchain technology for the sale of bonds. The investment arm of the European Union (EU) seeks to streamline bond issuance using digital-ledger technology.  Boosting innovations in debt capital markets According to the announcement: “The European Union’s investment arm hired Goldman Sachs Group Inc., Banco Santander SA and Societe Generale AG to explore a so-called digital bond in euros, which would be registered and settled using blockchain.” The European Investment Bank has prompted various innovations in the region’s debt capital market.…

European Investment Bank reportedly to issue bonds with blockchain tech

The European Investment Bank, an international financial institution owned by European Union member states, is reportedly exploring blockchain technology for issuing digital bonds. According to a Tuesday Bloomberg report, the EIB has hired major global banks like Goldman Sachs, Banco Santander and Societe Generale to look at a potential deal involving a euro-denominated bond issued on a blockchain.  Citing a person familiar with the matter, Bloomberg states that the EIB is planning to deploy blockchain technology for the registration and settlement of digital bonds. Investor meetings for the inaugural sale…

Central Bank of Nigeria Blocks Fintech Startups From Accessing KYC Service— Decision Described as an ‘Attack on All Fintechs’ – Regulation Bitcoin News

The Central Bank of Nigeria (CBN) has recently suspended the provision of the bank validation number (BVN) service to all fintech and third-party partners. The decision means non-banks entities include crypto startups “have lost one of the most comprehensive means of identity verification in the country.” New Identification System Before the latest decision, the CBN accepted the use of the BVN alongside any other acceptable identity documents for KYC purposes. According to the apex bank, this service helped to “check risk and determine whether or not there is an element…

Major Thai bank experimenting with decentralized finance

Kasikornbank, or KBank, one of Thailand’s largest banks has begun experimenting with DeFi services as part of its business expansion plan. According to a report by Bangkok Post, the bank’s DeFi exploration is being spearheaded by Kbank’s tech subsidiary Kasikorn Business Technology Group, or KBTG. Commenting on KBank’s DeFi plans, KBTG chairman Ruangroj Poonpol said: “DeFi is a key exploration for KBank Group this year […] The project is being explored through KBTG under the second phase of the company’s digital transformation programme.” According to Poonpol, DeFi could hold the…