Tag: Bank

Digital bank Revolut launches crypto staking for UK and EEA customers: Report

boss

United Kingdom-based neo-banking platform Revolut, which boasts 25 million customers globally, has introduced crypto staking to its U.K. and European Economic Area (EEA) customers.  According to a report from London-based news agency AltFi, the staking feature is expected to go live this week, allowing users to generate income on their crypto assets during its “soft testing” phase. At present, the staking feature is available for Polkadot’s DOT (DOT),  Tezos’s XTX (XTZ), Cardano’s ADA (ADA) and Ether (ETH), with yields ranging from 2.99% to 11.65%. However, these yields are not guaranteed.…

Bank of Italy selectively encouraging DLT, preparing for MiCA, governor says

boss

The Bank of Italy is looking for new ways to apply distributed ledger technology (DLT) and is preparing for the advent of Markets in Crypto-Assets (MiCA) regulation, bank governor Ignazio Visco told a congress of Assiom Forex, the Italian financial markets association, on Feb. 4.  DLT may offer benefits such as cheaper cross-border transactions and increased financial system efficiency, Visco said. The Italian central bank “is focused on the need to identify areas” where DLT can contribute to financial stability and consumer protection. Visco expressed the desire to see regulations…

Digital Bank Revolut to Offer Crypto Staking: Report

Revolut, which has around 25 million customers worldwide, the vast majority of whom are in the U.K. and EEA, is rolling out the service this week, AltFi said. At first, the London-based fintech will support staking of the tokens of Polkadot (DOT), Tezos (XTZ), Cardano (ADA) and Ethereum (ETH). Yields on the assets range from 2.99% up to 11.65%, though these are variable. Source

Italy Setting Up Crypto Environment That Meets EU’s New Laws, Central Bank Governor Says

Visco spoke of the importance of regulating crypto, and outlined global, European and Italian initiatives underway during a speech on the global economic situation in Milan. Although the economies of Italy and the euro area are decelerating, because the sector’s ties to traditional finance are weak, last year’s crypto market collapse did not have any “systemic consequences” on “the real economy,” he said. Source

Russia’s Largest Private Bank Launches Digital Asset Platform – Finance Bitcoin News

boss

Alfa-Bank, one of the major Russian banking institutions, has established its own platform for digital financial assets. The launch became possible after Russia’s monetary authority added Alfa-Bank to its register of digital asset issuers this week. Privately-Owned Alfa-Bank Sets Up Digital Asset Platform With Central Bank’s Permission Russia’s Alfa-Bank has launched ‘A-Token,’ a platform allowing the issuance of digital financial assets (DFAs), the business news portal RBC reported, quoting its Director of Innovation Denis Dodon. The bank was able to do so after the Bank of Russia announced its registration…

Billionaire Tim Draper Urges Sri Lanka to Adopt Bitcoin — Central Bank Says ‘We Don’t Want to Make the Crisis Worse’ – Regulation Bitcoin News

boss

Billionaire investor and venture capitalist Tim Draper has reportedly attempted to convince the Sri Lankan government to adopt bitcoin. However, the governor of the Central Bank of Sri Lanka rejected his recommendation, emphasizing: “Adoption of 100% bitcoin won’t be a Sri Lanka reality ever.” Tim Draper Suggests Sri Lanka Adopts Bitcoin Billionaire investor and venture capitalist Tim Draper reportedly tried to convince the Sri Lankan government and central bank to adopt bitcoin during his visit to the south Asian country earlier this week to shoot an episode of his “Meet…

Kazakhstan’s digital currency in pilot stage, per Binance, National Bank joint report

boss

The National Bank of Kazakhstan (NBK) has launched a digital tenge pilot project, according to a report published jointly by the bank and Binance on Feb. 3. The report looked at global approaches to digital asset regulation, the digital asset industry and decentralized finance (DeFi) in Central Asia and the Commonwealth of Independent States in particular.  In his introduction to the report, NBK Deputy governor Berik Sholpankupov wrote about the bank’s vision of a “collaboration between Traditional Finance and DeFi” that could increase financial inclusion and support international trade. He…

Silvergate Bank Under Probe by US DOJ Over Dealings with FTX

While the current subject of the probe into Silvergate Bank appears speculative at this time, there is a deep tie between the financial institution and FTX. The shares of American financial services giant Silvergate Capital Corp (NYSE: SI) have plunged by 13.16% to $18.21 in the Pre-Market after reports emerged that the firm’s banking unit is under probe by the United States Department of Justice (DoJ). As reported by Bloomberg, the US DoJ’s fraud unit is in charge of the investigations and the regulators seek to explore whether the firm…

UK Bank Nationwide Has Restricted Card Payments to Binance

While the website didn’t say when the policy was instigated, a tweet dating from 2021 indicates the decision was made that July. Earlier in the same month, shortly after the U.K.’s Financial Conduct Authority (FCA) warned that Binance was not allowed to conduct any regulated activity in the country, the lender said it was assessing its policies on crypto transactions. Source