Tag: Bank

Crypto-Friendly Bank to Go Public as Texas Company via SPAC

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The “digital-first“ bank created in 2022 is set to go public on the Nasdaq, subject to shareholder and regulatory approvals. Old Glory Bank, a crypto-friendly lender, said it will merge with Digital Asset Acquisition Corporation to form a Texas-based company listed on Nasdaq. In a Tuesday notice, Old Glory and special purpose acquisition company Digital Asset Acquisition Corporation said they plan to form OGB Financial Company as part of an effort to go public under the ticker symbol OGB. The deal is expected to close “at the end of the…

BNY Launches Tokenized Bank Deposits for Institutional Clients

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BNY, a financial services company that traces its roots back to one of the oldest financial institutions in the United States, launched tokenized bank deposits for its institutional clients on Friday. Tokenized bank deposits are onchain cash balances or depositor claims against a bank. BNY will issue the tokenized bank deposits on an in-house permissioned blockchain network, according to an announcement from the company. The differences between permissioned and permissionless blockchain networks. Source: Cointelegraph The onchain deposits will be used to support collateral and margin requirements, with additional functionality in…

Bitcoin may take 2.5% of central bank reserves, hit $2.9m by 2050

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VanEck’s 2050 base case sees Bitcoin compounding 15% annually to ~$2.9m, settling up to 10% of global trade and reaching 2.5% of central bank reserves as a monetary hedge. Summary VanEck analysts project Bitcoin could average 15% yearly returns for 25 years, lifting its price to about $2.9m per coin by 2050.​ Their base case assumes Bitcoin handles 5–10% of global trade payments and grows into a non‑sovereign reserve asset at roughly 2.5% of central bank reserves.​ The report frames Bitcoin as a long‑term hedge against monetary‑regime risks, with scenarios…

Bank of America Says Coin a Buy and Could Rise 38%

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Bank of America has joined Goldman Sachs in lifting Coinbase from “neutral” to “buy” this week, citing Coinbase’s lead role in bringing the financial system on-chain and becoming an “everything exchange.” In a research note released on Thursday, BofA said Coinbase’s expansion from trading to tokenizing real-world assets, including stocks and exchange-traded funds, as well as its move into prediction markets, is positioning it to cross-sell more products to new and future users and lead a “new financial system.” “While the stock is off 40% from its July highs, under…

India’s Tax Authorities and Central Bank Raise Crypto Concerns

Key Notes Indian tax authorities stated that the borderless nature of cryptocurrencies make tracking, taxation, and enforcement difficult. The Finance Ministry, FIU, and Income Tax Department are aligned on increasing oversight of decentralized platforms. India continues to impose a 30% flat crypto tax and 1% TDS, one of the largest in the world. Ahead of India’s February 2026 Union Budget, tax authorities raised concerns over crypto assets, aligning with the Reserve Bank of India (RBI). The warning discusses the enforcement challenges faced by the authorities that could undermine the government’s…

Trump’s World Liberty Financial Seeks Bank Charter for USD1

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The Trump family’s crypto platform, World Liberty Financial, has filed for a national trust banking charter to accelerate the institutional adoption of its USD1 stablecoin. World Liberty said on Wednesday that its subsidiary WLTC Holdings filed with the Office of the Comptroller of the Currency (OCC) for a charter that would allow it to issue, custody, and convert its stablecoin in-house, rather than rely on third-party providers such as BitGo. “Institutions are already using USD1 for cross-border payments, settlement, and treasury operations,” said World Liberty CEO Zach Witkoff. “A national…

From Today, Bank of America Lets Advisers Recommend BTC

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Bank of America is from Monday making crypto a more routine part of its US wealth business, enabling advisers across Merrill, the Bank of America Private Bank and Merrill Edge to recommend spot Bitcoin exchange-traded funds (ETFs) to a broader range of clients. Bank of America’s chief investment office (CIO) has approved four US-listed spot Bitcoin funds for coverage: Bitwise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Mini Trust (BTC) and BlackRock’s iShares Bitcoin Trust (IBIT). These four ETFs are among the largest and most liquid…

India’s Central Bank Pushes For CBDCs Over Stablecoins

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The Reserve Bank of India has urged countries to focus on central bank digital currencies over privately-issued stablecoins, citing concerns about financial stability. In its December financial stability report, released on Wednesday, the RBI argued that CBDCs preserve the “singleness of money and the integrity of the financial system,” and should remain as the “ultimate settlement asset” and the “anchor for trust in money.” “The RBI, therefore, strongly advocates that countries should prioritise central bank digital currencies over privately issued stablecoins to maintain trust in money, preserve financial stability and…

US bank Upgrades TeraWulf Price Target, Offers Bullish Mining Prediction

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Investment banking company Keefe, Bruyette & Woods has turned more bullish on Bitcoin miner TeraWulf, citing what it sees as a looming shift in the company’s business mix that investors have yet to fully price in. In a Wednesday report, KBW said it upgraded TeraWulf (WULF) to “outperform” from “market perform” and raised the company’s share price target to $24 from $9.50.  According to the bank, the reassessment was based on investors “underappreciat[ing] the magnitude of the BTC mining to HPC [high-performance computing] leasing mix shift in 2026-2027 and robust…

Bitcoin May Stay Outside Central Bank Vaults, Billionaire Says

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According to recent interviews, billionaire investor Ray Dalio has sharpened his caution about Bitcoin’s fit for official reserves while still recognizing its scarce nature. Related Reading He said that Bitcoin carries money-like qualities because of its limited supply, but he drew a firm line over who should hold it on a balance sheet. Dalio said public transaction records and the risk of outside interference make it hard for reserve managers to treat Bitcoin the same way they treat gold. Dalio Flags Traceability Concerns Dalio warned that the open ledger that…