Tag: Bank

Ripple’s RLUSD Gains Momentum as Bank Wires Lose Ground

Ripple’s RLUSD stablecoin is set to revolutionize global payments, slashing remittance costs, boosting speed, and unleashing real-time blockchain-powered transactions worldwide. RLUSD Enters $27.6T Stablecoin Market as Ripple Pushes for Regulatory Clarity Ripple shared on July 11 that Ripple USD (RLUSD) is reshaping global remittances by offering faster, cheaper, and more accessible cross-border payments compared to […] Source CryptoX Portal

USDT Used to Launder $4 Million in Kenyan Bank Heist, Report Says

A major Kenyan bank is facing a significant internal breach, with about $4 million (KES 500 million) stolen by contractors involved in its IT infrastructure. Investigations indicate that USDT was central to the laundering process, with funds transferred to multiple offshore wallets, complicating recovery efforts. The Directorate of Criminal Investigations (DCI) has launched an investigation […] Source CryptoX Portal

Vatican Bank Denies Ties to Scam Project Promoting Fake Crypto Token

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The Istituto per le Opere di Religione (IOR), commonly known as the Vatican Bank, has denied any connection to a fake cryptocurrency project claiming ties to it. The fake token, dubbed Vatican Chamber Token (VCT), was promoted on an online phishing scam website claiming to offer a “formal invitation to join one of the world’s most exclusive economic institutions.” The promoters said the “Vatican Chamber of Trade” was accepting new applicants “for the first time in a generation.” The website goes as far as to include the real number of…

China’s 100K TPS blockchain, Japan’s Minna Bank eyes Solana: Asia Express

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Beijing’s state media is rallying behind Chang’an Chain, a homegrown blockchain infrastructure hailed as a solution to China’s “root problem” of digital sovereignty. A profile on Qianlong.com credits researcher Dong Jin and his team for building a fully open-source and state-backed blockchain stack now powering national digital projects. Though little-known outside China, Chang’an Chain has gone through 21 iterations over six years and now claims to handle over 100,000 transactions per second — a benchmark often cited by next-generation blockchains aiming to match the scale of traditional financial networks. It…

Pakistan Prepares Digital Currency Pilot, Central Bank Confirms

Key Notes Pakistan will launch a central bank digital currency (CBDC) pilot program soon. New “Virtual Assets Act, 2025” introduces clear licensing and regulation. The country aims to join others like India and Nigeria in CBDC trials. Pakistan is preparing to launch a pilot program for a potential digital currency as part of its wider digital finance reform efforts. This initiative comes amid the finalization of legislation governing the use of crypto assets in the country. Central Bank Governor Jameel Ahmad revealed on July 9 at the Reuters NEXT Asia…

Deutsche Bank and Sparkassen Lead the Way

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Why Germany’s banking giants are moving into crypto In a move set to redefine EU finance, some of Germany’s most powerful banks are entering crypto — on their own terms. Deutsche Bank, with more than 1.6 trillion euro ($1.9 trillion) in assets under management, and the Sparkassen-Finanzgruppe, which oversees over $2.3 trillion, are preparing to launch regulated crypto services for institutional and retail clients by 2026.  Importantly, it represents a step toward digital assets from some of the continent’s most conservative institutions. Deutsche Bank is developing a crypto custody service tailored for…

South Korean Bank Stocks Surge After Stablecoin Trademark Filings

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Shares of major South Korean banks surged following trademark filings for stablecoins, signaling growing institutional interest in digital assets.  According to Google Finance data, at least three South Korean banks that recently applied for Korean won stablecoin trademarks saw their stock prices increase by 10% to almost 20%. The market reaction suggests investor optimism around the banks’ potential entry into the cryptocurrency sector. The filings came shortly after the inauguration of the country’s 21st president, Lee Jae‑myung, on June 4. His campaign included crypto-friendly promises, including the development of a…

Metaplanet Eyes Digital Bank in Bitcoin Expansion Plan

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Japanese firm Metaplanet plans to eventually use its Bitcoin reserves to acquire cash-generating businesses, possibly including a digital bank in Japan. In a recent interview with the Financial Times, CEO Simon Gerovich said the company is racing to accumulate as much Bitcoin (BTC) as possible before turning its holdings into leverage for expansion. “We think of it as a Bitcoin gold rush,” Gerovich said. “We need to accumulate as much Bitcoin as we can… to get to a point where we’ve reached escape velocity and it just makes it very…

Spain’s BBVA Bank Adds Bitcoin and Ethereum Trading Services

Key Notes BBVA recently debuted trading and custody services for Bitcoin (BTC) and Ethereum (ETH). From Switzerland and Turkey, BBVA has further expanded to the EU. The service is compliant with the EU’s Markets in Crypto-Assets (MiCA) regulation. Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) recently debuted trading and custody services for Bitcoin BTC $108 625 24h volatility: 0.5% Market cap: $2.16 T Vol. 24h: $21.22 B and Ethereum ETH $2 563 24h volatility: 1.9% Market cap: $309.42 B Vol. 24h: $13.78 B . This service is now…

Brazil’s Central Bank Hacked—$40M in Bitcoin Lost In Aftermath

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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…