Tag: Bank

SoFi Bank Introduces Crypto Trading for Customers

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US bank SoFi Technologies has launched crypto trading services to its customers, as clearer rules have allowed the crypto market to court greater interest from traditional finance. SoFi said on Tuesday that its crypto service will aim to offer dozens of cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), and started in a phased rollout on Monday, with more customers able to gain access in the coming weeks.  SoFi CEO Anthony Noto told CNBC’s Squawk Box on Tuesday that his bank is the first and only nationally chartered bank to launch…

JPMorgan Partners Singapore’s Largest Bank, DBS, for Tokenized Deposit Transfers

Key Notes The framework creates interoperability standards allowing banks to issue and move blockchain-based deposit representations instantly. Tokenized deposits maintain full regulatory oversight while delivering programmability and settlement speed of blockchain technology. DBS previously executed the first interbank crypto options trade with Goldman Sachs involving Bitcoin and Ethereum last month. Singapore’s largest bank, DBS, has teamed up with JPMorgan’s Kinexys division to design a framework enabling real-time interbank transfers of tokenized deposits across multiple blockchains. The initiative represents a significant step toward merging traditional finance with decentralized settlement architecture. According…

SoFi Bank Relaunches Crypto Trading as First FDIC-Insured US Bank

Key Notes The platform combines conventional banking products with digital asset trading under a single nationally chartered institution. Early users completing three qualifying trades by January 2026 can enter a Bitcoin giveaway promotion worth significant value. Traditional banks are increasingly adopting cryptocurrency services as regulatory clarity improves following recent political changes. SoFi Bank relaunched crypto trading on Nov. 11, becoming the first and only nationally chartered, FDIC-insured US bank to integrate banking, borrowing, investing, and crypto trading in a single application, the company said. The bank will support Bitcoin BTC…

Why Tether Looks More Like a Central Bank Than a Stablecoin Issuer

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Key takeaways Tether operates a Treasury- and repo-heavy balance sheet, holding $181.2 billion in reserves against $174.5 billion in liabilities, leaving $6.8 billion in excess. High interest rates have turned those reserves into profit, generating more than $10 billion in interest income so far in 2025, which is uncommon for a typical crypto issuer. It exercises policy-style levers by freezing sanctioned wallets, shifting supported blockchains and allocating up to 15% of profits to Bitcoin. The central bank comparison has limits. Tether has no public mandate or backstop, relies on attestations…

Bank Of England Sets 2026 Timeline For Final Stablecoin Rules

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The United Kingdom’s central bank is moving toward stablecoin regulation by publishing a consultation paper proposing a regulatory framework for the asset class. The Bank of England (BoE) on Monday released a proposed regulatory regime for sterling-denominated “systemic stablecoins,” or tokens it said are widely used in payments and therefore potentially pose risks to the UK financial stability. Under the proposal, the central bank would require stablecoin issuers to back at least 40% of their liabilities with unremunerated deposits at the BoE, while allowing up to 60% in short-term UK…

Central Bank of Brazil Clarifies Drex CBDC Project’s Future: Digital Real Still the ‘Ultimate Goal’

The Central Bank of Brazil said the recent pause in using blockchain for drex, its central bank digital currency project, is temporary. The bank intends to continue using decentralized technology in the future, including issuing its own currency for tokenization-linked settlements. Central Bank of Brazil: Drex CBDC Project Still Alive The Facts The Central Bank […] Source CryptoX Portal

Irish Central Bank Slams Coinbase Europe With $24.8 Million Fine for AML Failures

Coinbase Europe was fined $24.8 million by the Central Bank of Ireland due to breaches of its anti-money laundering and counter-terrorist financing rules. The Penalty and Violations The Central Bank of Ireland has fined Coinbase Europe Limited approximately $24.8 million (€21,464,734) for breaching anti-money laundering (AML) and counter-terrorist financing (CFT) obligations between April 2021 and […] Source CryptoX Portal

Bank of England pledges to keep pace with US on stablecoin regulations

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The UK’s top bank says it will roll out stablecoin rules “just as quickly as the US” amid concerns that it’s lagging behind global allies. Bank of England Deputy Governor Sarah Breeden expects the government to keep pace with the US in stablecoin regulation, stating that it is “really important” for the allies to be synchronized on rules governing the $310 billion industry. Speaking at the SALT conference in London on Wednesday, Breeden reportedly said the UK will implement a stablecoin regulatory framework “just as quickly as the US” —…

Swiss Bank Executes First Tokenized Fund on Ethereum

Key Notes The workflow automates order taking, execution, settlement, and data synchronization across blockchain systems. The uMINT fund operates on Ethereum distributed ledger technology as part of the UBS Tokenize initiative. UBS manages $6.9 trillion in assets and previously tested blockchain through Singapore’s Project Guardian. UBS announced on Nov. 4 the completion of the world’s first live, in-production tokenized fund transaction. The Swiss banking giant executed an end-to-end workflow involving subscription and redemption requests for a tokenized money market fund. The transaction marks a milestone in the institutional adoption of…