Tag: Bank

PNC Bank to Offer Clients Crypto Services Through Coinbase Partnership

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PNC Bank is set to offer crypto services to clients through a new partnership with Coinbase, following the signing of federal crypto legislation. PNC Bank announced its crypto move on Tuesday. With Coinbase support, the US bank will offer its clients the ability to buy, sell and hold digital assets without logging out of their accounts. The move will be made possible through Coinbase’s Crypto-as-a-Service platform. In turn, PNC Bank will offer Coinbase some of its banking services. In a statement, PNC Chairman and CEO William Demchak said that partnering…

Bank of England Reconsidering Digital Pound Dream

Key Notes The Bank of England is reportedly reconsidering its plans for a consumer-focused digital pound. Governor Andrew Bailey has publicly voiced skepticism about the need for new forms of money like CBDCs. The BOE is now urging banks to focus on tokenized deposits and payment innovations. The Bank of England (BOE) took a complete 360 on its earlier stance on the debut of a digital dollar, raising fresh doubts about the future of central bank digital currencies (CBDCs) in the UK. According to a recent Bloomberg report, officials are…

Bank Groups Urge OCC Delay Allowing Crypto Bank Charter Bids

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US banking groups have urged the country’s banking watchdog to postpone its decision on crypto companies’ bank licenses until more details about their plans are public, claiming that allowing the bids would be “a fundamental departure” from current policy. The American Bankers Association and other bank and credit union trade groups said in a letter to the Office of the Comptroller of the Currency (OCC) on Thursday that its approval of national bank charters for the likes of stablecoin issuers Circle Internet Group and Ripple Labs “would raise significant policy…

Nordic Exchange Safello Partners With Marginalen Bank to Enhance Banking Services for Crypto Customers

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Safello has signed a strategic framework agreement with Marginalen Bank, allowing Safello’s over 400,000 customers to access a range of banking services through its platform. This partnership introduces Banking-as-a-Service (BaaS), enabling customers to utilize full-service payment accounts, bill payment options, Swish connections, and debit cards. The agreement, which has an initial term of two years, […] Source

Bank of America Eyes Stablecoins as Blockchain Strategy Takes Shape

Bank of America is in the early stages of exploring stablecoins, aiming to leverage blockchain technology to enhance its payment infrastructure. During the bank’s second-quarter earnings call, CEO Brian Moynihan addressed questions about BoA’s stablecoin strategy, noting that the initial focus is “on stablecoins as a transactional device.” Stablecoin-based payment rails could help BoA move the trillions of dollars in client assets that flow through its systems each day. “We believe that if they want to use stablecoins to move part of that money, they’ll move,” Moynihan said, referring to…

3 US Banking Regulators Unite: Crypto Safekeeping Set for Major Bank Expansion

U.S. regulators just cleared a critical path for banks to offer crypto asset safekeeping, signaling new momentum for compliant, risk-managed institutional entry into digital finance. US Banking Regulators Issue Joint Statement on Crypto A renewed regulatory focus is opening the door for banks to engage with crypto asset safekeeping, provided they meet established risk standards […] Source CryptoX Portal

Bank of Ghana Orders Mandatory Registration for All Crypto Firms

The Ghanaian central bank has announced a mandatory registration process for all virtual asset service providers operating in the country. Registration Covers Broad Range of Crypto Activities The Bank of Ghana (BOG) has issued a public notice requiring all Virtual Asset Service Providers (VASPs) operating within the country to undergo a mandatory registration process. The […] Source CryptoX Portal

Czech National Bank Increases Palantir Stake, Adds Coinbase Shares

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The Czech National Bank adjusted its US investment portfolio in the second quarter by increasing its stake in Palantir Technologies and initiating a new position in cryptocurrency exchange Coinbase Global. These moves were disclosed in a Form 13F filing, which is a quarterly report filed by investment managers to the Securities and Exchange Commission that discloses their US equity holdings. The filing shows the bank has added 51,732 Coinbase shares, worth over $18 million. The Czech National Bank also added 49,135 Palantir shares in the second quarter of the year,…

Ripple National Trust Bank Targets Fed Access—Is RLUSD About to Go Full Scale?

A major leap toward regulated crypto banking is underway as Ripple seeks a national trust bank charter to elevate stablecoin credibility and custody standards. Ripple National Trust Bank Deepens Regulatory Footprint With RLUSD Strategy Ripple is advancing its regulatory ambitions with an application to establish Ripple National Trust Bank, signaling a deepening push into federally […] Source CryptoX Portal