Tag: Bank

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…

Bitcoin, Satoshi, FTX, Brazil’s central bank

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From billion-dollar Bitcoin movements to courtroom maneuvers and cross-border hacks, this week’s crypto headlines span the strange, the strategic, and the staggering. Dormant wallets from the Satoshi era suddenly sprang to life, Brazilian hackers used crypto to launder stolen bank funds, and FTX sought legal approval to distribute assets in restricted jurisdictions. Meanwhile, Robinhood and Deutsche Bank pushed deeper into blockchain development, Ripple secured a key payments partner, and Bitcoin treasury giants like Strategy and Metaplanet doubled down on accumulation. Here’s a roundup of the biggest developments shaking up the…

Hackers steal $140M in hack of central bank service provider

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C&M Software, the service provider that connects Brazil’s Central Bank to local banks and other financial institutions, was hacked on Wednesday, leading to 800 million Brazilian reais ($140 million), in stolen funds from six institutions connected to the central bank. The hack occurred after an employee of C&M allegedly sold his login credentials to the threat actor for roughly $2,700, allowing them to access the software system and steal funds held in reserve accounts, according to Brazilian news outlet São Paulo. Onchain detective ZachXBT said the hackers converted an estimated…

Peter Thiel Plots Erebor Bank to Replace Silicon Valley Bank for Startups, Crypto

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Peter Thiel and other tech billionaires have reportedly spotted a major market opportunity in the void left by Silicon Valley Bank’s (SVB) 2023 collapse. They are now planning to launch a new financial institution — named after a Lord of the Rings reference — to serve crypto companies and startups that have struggled to secure financing since SVB’s downfall. SVB’s dramatic collapse in 2023 triggered contagion across the US banking sector and led to tighter lending standards. While its assets were later acquired by First Citizens Bank, no institution has…

Japan’s Minna Bank Looks Into Solana Stablecoins

Key Notes Minna Bank plans on exploring the usage of digital wallet and stablecoins in Japan. The research will focus on issuing stablecoins on the Solana chain. The study will also review the use cases of these innovations including asset trading, digital payments and cross-border payments. . Minna Bank, a digital bank based in Japan, has announced a new research initiative to explore the potential role of digital wallets and stablecoins in the country’s financial payment ecosystem. The study is being conducted in collaboration with key partners, including crypto infrastructure firm Fireblocks,…

Solana ($SOL) Gains Institutional Traction as Japanese Bank Explores Stablecoin Payments

Solana declined 3.36% over the past 24 hours, retreating from $155.69 to $150.81, according to CoinDesk Research’s technical analysis model, amid broader market pressures, even as institutional developments in Asia signal growing momentum for the blockchain, One of Japan’s most digitally progressive banks has launched a new initiative that could expand real-world applications for Solana’s infrastructure. Minna Bank, a digital-native bank and a subsidiary of Fukuoka Financial Group, announced a new research collaboration with Fireblocks, Solana, and TIS to evaluate how stablecoins and Web3 wallets can reshape consumer finance in…

Palantir Chief to Invest in Palmer Lucky’s Crypto-Focused Bank

Key Notes Crypto bank Erebor plans to hold stablecoins on its balance sheet and aims to become the most regulated entity facilitating stablecoin transactions. It will also align with broader U.S. efforts like the GENIUS Stablecoin Act to integrate stablecoins into the financial system. Erebor is backed by influential investors, including Peter Thiel’s Founders Fund, with leadership from former Circle adviser Jacob Hirshman. As crypto regulatory developments in the US see a positive change, tech billionaires are exploring crypto-focused investment opportunities in the market. As per the latest development, Palantir…