Xapo Bank has announced that it has received full regulatory approval from the Gibraltar Financial Services Commission for its new bitcoin yield product, developed in partnership with Hilbert Capital. This development allows Xapo Bank members to access the Xapo Byzantine Bitcoin Credit Fund, which is managed by Hilbert Capital, providing a regulated pathway to generate […] Original
The United Kingdom has imposed sanctions on Kyrgyzstan’s financial sector and crypto networks allegedly used by Russia to bypass Western restrictions, targeting an alleged $9.3 billion rouble-backed stablecoin operation. The new measures build on more than 2,700 existing UK sanctions against Russia and follow a similar move last week by the United States, the UK government said in a Wednesday announcement. Among those sanctioned is Capital Bank of Central Asia and its director, Kantemir Chalbayev, which the UK claims Russia used to finance military goods. Two Kyrgyz crypto exchanges, Grinex…
Two of the crypto industry’s leading advocacy bodies are pushing back against Wall Street bankers’ latest attempt to roll back the United States’ newly minted stablecoin law. In a joint letter to the Senate Banking Committee on Tuesday, the Crypto Council for Innovation (CCI) and the Blockchain Association urged lawmakers to reject recommendations from the American Bankers Association (ABA) and state banking groups. As reported, several US banking groups, led by the Bank Policy Institute (BPI), have urged Congress to tighten the GENIUS Act by closing what they call a…
SoFi Bank will use Bitcoin’s Lightning Network to launch low-cost international money transfers, beginning with Mexico later this year. Summary SoFi Bank will leverage Bitcoin’s Lightning Network to launch a global remittance service. The service uses Lightspark’s Universal Money Address, which lets users send dollars abroad with real-time Bitcoin conversion. As part of its partnership with payments infrastructure provider Lightspark, announced on Aug. 19, SoFi Bank will offer near-instant cross-border payments that convert U.S. dollars to Bitcoin in real-time and transmit them via Lightning rails. The funds are then automatically…
Digital bank SoFi Technologies is set to become the first US bank to leverage the Bitcoin network and Universal Money Address — allowing Americans, Mexicans, and others to send money through the Lightning Network. SoFi partnered with Bitcoin (BTC) payments infrastructure Lightspark to launch its blockchain-powered international money transfer service, which will go live later this year, starting in Mexico, SoFi said in an announcement on Tuesday. “For many SoFi members who regularly send money to loved ones internationally, the ability to quickly transfer money at low cost isn’t just…
Key Notes Royal Bank of Canada raised its MSTR stake by 16% in Q2, now holding 188,657 shares worth over $76 million. Strategy Inc. added 430 BTC in August, bringing its total holdings to 629,376 BTC with $26B in unrealized profit. Michael Saylor relaxed stock issuance rules, allowing more flexibility in funding Bitcoin purchases. The Royal Bank of Canada (RBC), the nation’s largest lender by market capitalization, has expanded its exposure to Bitcoin through a significant increase in shares of Strategy Inc. (MSTR), the software-turned-Bitcoin-treasury company. RBC Boosts Holdings as…
Key Notes CMB International received official licenses from Hong Kong’s Securities and Futures Commission in July for compliant trading. The exchange offers Bitcoin, Ethereum, and USDT trading exclusively through its mobile app in Hong Kong territory. China Merchants Bank ranks among the world’s top 25 banks with over $18 billion in assets under management. CMB International, a subsidiary of China Merchants Bank, launched an officially licensed, bank-affiliated cryptocurrency exchange in Hong Kong on Aug. 18. According to a report from Weixin Official Accounts Platform, CMB International has begun conducting cryptocurrency…
A fierce showdown is brewing as over 80 crypto and fintech leaders demand immediate action to block major banks from throttling consumer data access and crippling digital finance. Trump Pressed by 80 Executives as Banks Move to Block Crypto Account Links Executives from the cryptocurrency and fintech sectors called on President Donald Trump on Aug. […] Source CryptoX Portal
South Korea’s Dunamu, operator of Upbit, is partnering with Vietnam’s state-controlled MB Bank to launch the country’s first licensed crypto exchange. The move follows new legislation legalizing digital assets in Vietnam. Vietnam Set to Open First Domestic Crypto Exchange with Dunamu–MB Bank Deal Vietnam is preparing to debut its first domestic cryptocurrency exchange through a […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Vietnamese state-controlled bank Military Bank (MB) plans to launch a regulated crypto exchange in partnership with Dunamu, the parent company of South Korean crypto exchange Upbit. According to a Wednesday announcement from Dunamu, the company has signed a memorandum of understanding with Military Bank. In a Facebook post, Military Bank said Dunamu will support it building a cryptocurrency exchange in Vietnam with its technology. “MB and Upbit will be trusted partners, working together to promote Vietnam’s digital financial market,” Military Bank Chairman Luu Trung Thai said. Military Bank is a…