Tag: Bank

Bank lobby is ‘panicking’ about yield-bearing stablecoins — NYU professor

America’s powerful banking lobby is “panicking” over the potential of stablecoins to disrupt their traditional business model, particularly when it comes to yield-bearing stablecoins, according to Austin Campbell, a New York University professor and founder of Zero Knowledge Consulting. In a May 21 social media post that begins with, “The Empire Lobbies Back,” Campbell claimed that the banking industry is especially alarmed by the potential for stablecoins to offer interest or rewards to holders.  In a pointed message aimed at Democratic lawmakers, Campbell wrote that “banks want you to protect…

Guatemala’s largest bank integrates blockchain for cross-border payments

Guatemala’s largest bank, Banco Industrial, has integrated crypto infrastructure provider SukuPay into its mobile banking app, allowing locals to more easily receive remittances powered by blockchain technology.  SukuPay’s infrastructure has been fully embedded inside the Zigi payment app, allowing Guatemalans to receive funds from the United States instantly for a $0.99 flat fee, the company disclosed on May 21.  Users of the Zigi app do not need a crypto wallet or an International Bank Account Number (IBAN) to receive the funds, the company said.  SukuPay CEO Yonathan Lapchik told Cointelegraph…

JPMorgan boss says bank users can soon buy Bitcoin

boss

Jamie Dimon, the CEO of JPMorgan, said his bank will soon allow its clients to buy Bitcoin, but it won’t custody the cryptocurrency. “We are going to allow you to buy it,” Dimon said at JPMorgan’s annual investor day on May 19. “We’re not going to custody it. We’re going to put it in statements for clients.” CNBC reported that Dimon also remarked on his long-held skepticism about crypto assets, pointing to their use in money laundering, sex trafficking and terrorism. “I don’t think you should smoke, but I defend…

Hong Kong police busts $15M laundering ring that used crypto, 500 bank accounts

Hong Kong police arrested 12 people involved in a cross-border money laundering scheme that relied on crypto and over 500 stooge bank accounts to launder HK$118 million ($15 million), local news outlets reported. The syndicate was dismantled on May 15, resulting in the arrest of nine men and three women in mainland China and Hong Kong. The suspects allegedly recruited others to open bank accounts to receive proceeds from fraud cases, which were then converted into crypto at crypto exchange shops to launder the illicit funds, Hong Kong Commercial Daily…

Bitcoin Outshines All In 2025, Official Report From Russian Central Bank Says

boss

They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer…

Europol helps dismantle $23M ‘mafia crypto bank’

boss

European law enforcement in January arrested 17 suspects of a “mafia crypto bank” who are said to have laundered over 21 million euros ($23.5 million) in crypto for criminal entities in China and the Middle East. The money laundering services were allegedly carried out on behalf of other criminal networks engaged in migrant smuggling and drug trafficking, Europol said in a May 14 statement. Spanish authorities said the criminal organization ran a secret informal money transfer system called hawala and was often compensated in crypto. A total of 17 individuals…

Bhutan Enables Crypto Tourism with Binance Pay and DK Bank

Bhutan, a South Asian country renowned for its cryptocurrency investments and mining operations, has introduced a cryptocurrency payment platform designed for the tourism sector in collaboration with Binance Pay and DK Bank. This innovative payment system allows tourists to visit Bhutan and pay for goods and services using cryptocurrencies stored in their Binance accounts. Over a hundred different cryptocurrencies are supported by the system. Merchants in Bhutan can easily accept crypto payments by scanning a QR code on their phones. Tourists can make payments using crypto assets such as Bitcoin…

Bitcoin-backed loans ‘obvious’ next step — Xapo Bank CEO

boss

Bitcoin holders are becoming more comfortable borrowing against their crypto as market confidence grows, according to Seamus Rocca, the CEO of the Gibraltar-based private bank Xapo Bank.  In an interview at the Token2049 event in Dubai, Rocca told Cointelegraph that with Bitcoin (BTC) hovering around $95,000 and institutional adoption starting to catch on, the executive said the mood among investors shifted from short-term speculation to a more long-term outlook.  “I’m not sure that confidence would have been there three or four years ago,” Rocca told Cointelegraph. “But today, people are…

Standard Chartered Bank Predicts $2,800 BNB by 2028

The bank’s analysis says that BNB trades like “an unweighted index” of bitcoin and ether “in terms of both returns and volatility.” Standard Chartered Forecasts BNB to Hit $2,800 Within Four Years Standard Chartered Bank, the $800-billion financial institution headquartered in London, England, published a research report on Tuesday predicting that BNB, the cryptocurrency powering […] Source CryptoX Portal