Tag: Bank

Spain’s central bank approves euro-linked token pilot as part of sandbox initiative: Report

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The financial sandbox ar of the Bank of Spain, or Banco de España, has reportedly approved a project from fintech firm Monei testing a token linked to the euro. According to a Jan. 18 report from Spain-based news outlet Cinco Días, the Bank of Spain gave the green light to Monei to issue its EURM token as part of a testing phase expected to last between 6-12 months. The sandbox was aimed at establishing a controlled testing environment for financial innovations projects in Spain under the supervision of central bank…

Will Bitcoin price crack $22K? Dollar weakness, Bank of Japan easing boost hopes

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Bitcoin (BTC) faced a potentially volatile day on Jan. 18, with multiple macro triggers beginning to unsettle the outlook. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BoJ refuses to hike Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding firm above $21,000 on the day. The pair remained cool amid news from Japan, where the central bank — the Bank of Japan (BoJ) — had decided to keep an ultra-easy policy in place, defying expectations of an interest rate hike. In so doing, both the yen and U.S. dollar…

German Online Bank N26 Announces Crypto Trading Expansion to 5 More European Nations

N26 recently launched N26 Crypto, a new digital currency trading initiative it hopes would gain traction across the West. German neobank N26 has announced an expansion of its N26 Crypto trading product to Germany, Switzerland, Belgium, Ireland, and Portugal. This development lets customers in these countries gain access to and trade a suite of more than 200 digital currencies. The company said it would roll out the expanded trading gradually over subsequent weeks. N26 pitches its N26 Crypto scheme as a perk for premium customers. Account holders in its N26…

Bank of America Says CBDCs Are the Future of Money and Payments

“CBDCs do not change the definition of money, but will likely change how and when value is transferred over the next 15 years,” analysts led by Alkesh Shah wrote, adding that central bank digital currencies have “the potential to revolutionize global financial systems and may be the most significant technological advancement in the history of money.” Source

Bank of England to Backtrack on Digital Pound as Digital Euro Receives Major Boost

Several nations trying to adopt CBDCs have maintained that digital currencies should only complement cash rather than outrightly replace them. Andrew Bailey, the Bank of England (BoE) governor, has shared his thoughts on the idea of the country’s central bank digital currency (CBDC) – the digital pound. Bailey believes that there might be no need for a wholesale CBDC. According to him, his reason borders on the fact that the country already enjoys a “wholesale central bank money settlement system with a major upgrade.” Digital Pound Is Not a Priority,…

Bradesco Unveils Its First Tokenized Bank Credit Note, BBD Shares Drop 3%

Bradesco joins other banks in Brazil already offering tokenized assets including Itaú Unibanco and Santander. Banco Bradesco SA (NYSE: BBD), a Brazilian financial services company headquartered in Osasco, launched its first tokenized bank credit note on Friday. According to a report by Coindesk, Bradesco completed the transaction for a total of 10 million Brazilian reals – equivalent to $1.95 million – under a regulatory sandbox run by the Central Bank of Brazil. The bank added that it was the first financial market tokenization operation regulated by that monetary authority. Bradesco’s…

Bank of England governor questions need for digital pound

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Andrew Bailey, the Bank of England (BoE) governor, expressed skepticism on the need for a digital pound shortly after finance ministers from eurozone countries backed further work on a digital euro.  The BoE governor recently questioned the need for a wholesale central bank digital currency (CBDC) citing that there already is a “wholesale central bank money settlement system with a major upgrade.” In addition, Bailey also expressed that there are no plans to abolish cash when it comes to retail use. The BoE governor does not believe that retail payments…

Tanzanian Central Bank Adopts ‘Phased and Risk-Based Approach to Adoption of CBDC’ – Africa Bitcoin News

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After months of research, the Tanzanian central bank announced recently that it had chosen a more cautious and risk-based approach towards the adoption of its central bank digital currency (CBDC). During the research phase, the central bank said it paid particular attention “to risks and controls associated with issuance, distribution, counterfeit and usage of currencies.” Finding the Right CBDC Technology The Bank of Tanzania (BOT) announced on Jan. 14 that it had “adopted a phased, cautious and risk-based approach to adoption of CBDC [central bank digital currency].” The bank also…

Brazil’s Second-Largest Private Bank Launches First Tokenized Credit Note

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