Tag: Bank

Royal Bank of Canada Has Raised MSTR Holdings by 16%

Key Notes Royal Bank of Canada raised its MSTR stake by 16% in Q2, now holding 188,657 shares worth over $76 million. Strategy Inc. added 430 BTC in August, bringing its total holdings to 629,376 BTC with $26B in unrealized profit. Michael Saylor relaxed stock issuance rules, allowing more flexibility in funding Bitcoin purchases. The Royal Bank of Canada (RBC), the nation’s largest lender by market capitalization, has expanded its exposure to Bitcoin through a significant increase in shares of Strategy Inc. (MSTR), the software-turned-Bitcoin-treasury company. RBC Boosts Holdings as…

China Merchants Bank Subsidiary Launches Licensed Crypto Exchange in Hong Kong

Key Notes CMB International received official licenses from Hong Kong’s Securities and Futures Commission in July for compliant trading. The exchange offers Bitcoin, Ethereum, and USDT trading exclusively through its mobile app in Hong Kong territory. China Merchants Bank ranks among the world’s top 25 banks with over $18 billion in assets under management. CMB International, a subsidiary of China Merchants Bank, launched an officially licensed, bank-affiliated cryptocurrency exchange in Hong Kong on Aug. 18. According to a report from Weixin Official Accounts Platform, CMB International has begun conducting cryptocurrency…

Dunamu and MB Bank to Launch Vietnam’s First Licensed Crypto Exchange

South Korea’s Dunamu, operator of Upbit, is partnering with Vietnam’s state-controlled MB Bank to launch the country’s first licensed crypto exchange. The move follows new legislation legalizing digital assets in Vietnam. Vietnam Set to Open First Domestic Crypto Exchange with Dunamu–MB Bank Deal Vietnam is preparing to debut its first domestic cryptocurrency exchange through a […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Vietnam’s MB Bank and UpBit’s parent Build Crypto Exchange

Vietnamese state-controlled bank Military Bank (MB) plans to launch a regulated crypto exchange in partnership with Dunamu, the parent company of South Korean crypto exchange Upbit. According to a Wednesday announcement from Dunamu, the company has signed a memorandum of understanding with Military Bank. In a Facebook post, Military Bank said Dunamu will support it building a cryptocurrency exchange in Vietnam with its technology. “MB and Upbit will be trusted partners, working together to promote Vietnam’s digital financial market,” Military Bank Chairman Luu Trung Thai said. Military Bank is a…

Malaysia Central Bank Paper Sparks Debate by Naming XRP and BTC as Monetary Alternatives

A recent working paper from the Central Bank of Malaysia has identified XRP and bitcoin as potential alternatives to traditional monetary and payment systems. Digital Assets Could Replace Bank Deposits A recent working paper from the Central Bank of Malaysia (CBM) has identified XRP alongside bitcoin ( BTC) as potential “alternatives to the current monetary […] Source CryptoX Portal

Paxos seeks US national trust bank charter after 2023 application lapse

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Paxos Trust Company, the crypto infrastructure company behind PayPal’s PYUSD stablecoin, has filed to convert its New York limited-purpose trust charter into a US national trust bank charter, renewing an effort that expired in 2023. If approved, the federal charter, issued by the Office of the Comptroller of the Currency (OCC), would allow Paxos to custody customer assets and settle payments nationwide under federal oversight, potentially boosting its appeal to institutional clients. Unlike traditional banks, a national trust bank cannot accept cash deposits or issue loans. “OCC oversight will help build…

Swiss Crypto Bank Sygnum Expands Support for SUI

Sygnum Bank that it will support the SUI cryptocurrency, enhancing access for professional and institutional clients to the Sui ecosystem. As the banking partner for the Sui Foundation, Sygnum has fully integrated SUI into its regulated banking platform, offering services such as custody, trading, and staking. The launch of SUI staking in August will provide […] Source CryptoX Portal

New Investment Bank Law in El Salvador Opens Doors to Bitcoin Products

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The new Investment Bank Law will allow so-called “sophisticated investors” to take advantage of innovative opportunities, which may include bitcoin or crypto-based products issued to seek funding, thereby opening the doors to a more dynamic crypto ecosystem in El Salvador. Investment Bank Law Puts Bitcoin Front and Center in El Salvador The newly approved Investment […] Original

Sygnum Bank Adds SUI Custody and Trading for Institutional Clients

Sygnum, a Swiss digital asset bank, is expanding regulated institutional access to the Sui blockchain with new custody, trading and lending products for its professional clients. The Zurich- and Singapore-headquartered firm announced Friday it will now offer institutional-grade custody, spot and derivatives trading for SUI, alongside upcoming staking and SUI collateral-backed Lombard loans. Staking is expected to launch in the coming weeks, with loans scheduled for the fourth quarter. All SUI holdings will be kept off the bank’s balance sheet and set up to be bankruptcy remote. The move builds…