Tag: Bank

ECB Approves Pontes, Appia to Settle DLT in Central Bank Money

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The European Central Bank (ECB) has approved a two-track plan to settle distributed ledger technology (DLT) transactions using central bank money, which could pave the way to modernizing Europe’s financial system. The first track, dubbed Pontes, will focus on a short-term solution by linking blockchain-based DLT platforms with TARGET Services, a suite of financial services developed and operated by the Eurosystem designed to facilitate the flow of payments and securities within the eurozone. A pilot for Pontes is expected to launch by the end of the third quarter of 2026,…

Powell Backs Stablecoin Regulation as Circle Pursues US Bank Charter After $18B IPO

Key Notes Powell described stablecoins as positive financial innovation requiring clear regulatory oversight and integration rules. Circle’s trust charter application would enable direct USDC reserve management and tokenized asset custody services. Legislative momentum builds with GENIUS Act potentially arriving mid-July to link stablecoins with Treasury securities. Federal Reserve Chair Jerome Powell stated on July 1 that the United States is “well on the way” to developing a regulatory framework for stablecoins, calling the asset class a “positive step” for the financial system. He emphasized the need for clear, consistent rules…

National Bank of Kazakhstan to Establish Cryptocurrency Reserve

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Timur Suleimenov, chairman of the National Bank of Kazakhstan, noted that the institution was considering the creation of such a reserve based on international practices, starting with expropriated cryptocurrency and mined assets from companies with state participation. Kazakhstan Will Have a Cryptocurrency Reserve, According to the National Bank Another country has decided to set up […] Source

Circle Applies To Launch National Trust Bank

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Stablecoin issuer Circle has applied to establish a national trust bank in the United States that, among other duties, would oversee the firm’s USDC reserve on behalf of its US issuer.  If the application is approved by the US Office of the Comptroller of the Currency (OCC), Circle’s First National Digital Currency Bank would be authorized to operate as a federally regulated trust institution, Circle said in a statement on Monday. Circles Digital Bank also hopes to strengthen the infrastructure that “supports the issuance and circulation” of USDC (USDC) and…

Germany’s Largest Bank Group Sparkassen to Offer Bitcoin Trading to 50M Clients

Key Notes Sparkassen will offer Bitcoin and crypto trading to 50 million retail clients via DekaBank starting in summer 2026. Bitcoin is forming a cup and handle pattern near $110K, with a breakout potentially targeting $125K–$130K. Regulatory clarity under MiCA and rising retail demand are accelerating crypto adoption in the European banking sector. Sparkassen, Germany’s largest banking group, plans to offer Bitcoin BTC $107 230 24h volatility: 0.6% Market cap: $2.13 T Vol. 24h: $23.40 B and crypto trading to its 50 million retail clients by summer 2026. The move…

Sparkassen, the German bank that said ‘Nein’ to Bitcoin is now building a gateway

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Three years after shutting down the idea, Germany’s largest banking group is making a U-turn. Sparkassen plans to let retail clients trade Bitcoin and other digital assets by 2026, signaling a seismic shift in traditional finance’s stance on crypto. On June 30, Bloomberg reported that Sparkassen, the German sprawling network of savings banks with roughly 50 million clients, will roll out cryptocurrency trading for retail customers by summer 2026, marking a stark reversal from its 2023 decision to block such services. The move, confirmed by the German Savings Banks and…

Bank of Korea Suspends Next Phase of Its CBDC Project

Key Notes The Bank of Korea (BOK) will not proceed with its Central Bank Digital Currency (CBDC) project for now. The Korean government’s increasing support for local currency stablecoins possibly triggered this decision. Eight major South Korean banks plan to launch a won-pegged stablecoin. Local newspaper Business Times recently reported that the Bank of Korea (BOK) has paused its Central Bank Digital Currency (CBDC) project. Before making this decision, the project had advanced to the stage of developing a pilot program with participating banks. However, the BOK ultimately decided that…

Dollar-Free Future Accelerates as Putin and BRICS Bank Chief Discuss Digital Payment Platform

BRICS nations are accelerating a bold push to upend dollar dominance as Putin and the BRICS Bank leader discuss digital payment platforms and national currency systems reshaping global finance. Putin and BRICS Bank Head Discuss Payment Platform to Undercut Dollar Dominance As global economic blocs accelerate de-dollarization efforts and seek to reduce dependence on the […] Source CryptoX Portal

South Korea Central Bank Won’t Oppose Stablecoin: Report

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The head of South Korea’s central bank has reportedly said he is not against the country issuing a won-based stablecoin, but is still concerned about managing the foreign exchange of the token. Reuters reported on Wednesday that Bank of Korea Governor Rhee Chang-yong said at a press conference that “issuing won-based stablecoin could make it easier to exchange them with dollar stablecoin rather than working to reduce use of dollar stablecoin.” That in turn could increase demand for dollar stablecoin and make it difficult for us to manage forex,” he…

Hackers Shut Down Bank, Then Target Crypto Exchange for $81,700,000 in Bitcoin, DOGE, Tron and More

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An Israeli group of hackers is reportedly taking credit for major cyberattacks against an Iranian bank and a crypto exchange. The Israeli hacking group Predatory Sparrow is claiming responsibility for the cyberattack against Iran’s Bank Sepah that has left customers unable to access their funds, reports Axios. Local Iranian news has reported that customers’ cards are completely unusable, the mobile app and digital services are down, and most ATMs are out of cash. Said one man in Tehran, the country’s capital, “I’ve visited ten ATMs today… None had any cash.”…