Tag: Bank

British Investment Bank HSBC Joins Metaverse via Sandbox, Animoca Brands Partnership – Metaverse Bitcoin News

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The British multinational investment bank and financial services holding company, HSBC, has revealed it has partnered with the blockchain virtual gaming platform The Sandbox. According to the platform’s parent company, Animoca Brands, HSBC is the first global financial services provider to enter The Sandbox metaverse. HSBC Steps Into the Metaverse Over the last 12 months, The Sandbox has attracted a great number of businesses and celebrities to the blockchain virtual gaming platform. For instance, The Sandbox has enticed Snoop Dogg, Deadmau5, Atari, The Care Bears, The Smurfs, Gucci, Warner Music…

Binance Now Fully Licensed by Central Bank of Bahrain to Offer Crypto Services – Regulation Bitcoin News

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Cryptocurrency exchange Binance has announced that it has received a full license from the Central Bank of Bahrain. “The crypto asset license will allow Binance to provide crypto-asset trading, custodial services, and portfolio management to customers under the supervision of the Bahrain regulators,” said the exchange. Binance Now Licensed in Bahrain Cryptocurrency exchange Binance announced Monday that it has been granted a crypto asset service provider license from the Central Bank of Bahrain (CBB). Changpeng Zhao (CZ), founder and CEO of Binance, tweeted: Binance has been granted the first license…

Deutsche Bank to Exit Russia, Says There Will Be No New Business There – Finance Bitcoin News

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Germany’s Deutsche Bank has become the latest financial services giant to confirm it’s leaving Russia over Moscow’s military assault on Ukraine. The bank has been reducing its Russian exposure since 2014 when Russia annexed Crimea and the conflict in Eastern Ukraine erupted. Amid Ongoing War in Ukraine, Deutsche Bank Pulls Out of Russia Deutsche Bank, Germany’s largest banking institution, is scaling down operations in the Russian Federation. The bank announced its move in a statement posted on Twitter late on Friday, condemning Russia’s invasion of Ukraine. The financial conglomerate reaffirmed…

Bank of Israel issues draft guidelines on cryptocurrency AML/CFT

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On March 10, the Bank of Israel published draft regulation of anti-money-laundering and combatting the financing of terrorism (AML/CFT) risk management for the banks facilitating crypto-to-fiat transactions. The move hints at the Israeli government’s preparations to legalize and regulate the relationship between banks and virtual currency service providers (VASPs). The document cites the customers’ increased involvement with digital assets as the rationale for the new policy: “In view of the increase in customer activity in virtual currencies, and the resulting increase in customer requests to transfer money […] the Banking…

Bank of Uganda Reportedly Commences CBDC Study – Bitcoin News

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The Bank of Uganda (BOU) has commenced a study that explores the feasibility of issuing a digital currency. However, an executive with the institution warned that the central bank needed to be clear why it must have this in the first place. Faster Movement of Money The Ugandan central bank is reported to have commenced studying the feasibility of issuing a CBDC that will be used by households and businesses. In addition, the BOU is reportedly planning to revise the country’s financial laws. The move enables the BOU to formally…

Jamaican central bank to airdrop Jam-Dex CBDC to early adopters

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The first 100,000 Jamaican citizens to use the country’s new central bank digital currency (CBDC) known as Jam-Dex, will be given a free $16 payment in the hopes of promoting widespread adoption.  Jamaican prime minister Andrew Holness first announced the news in a Facebook post on Thursday. The post received a mixed response as some Facebook users praised Holness for “embracing a digital future”, while others expressed concern about the motivations of the Jamaican government, accusing Holness of trying to “bribe” citizens into the federal banking system. According to the…

Romanian central bank approves blockchain firm Elrond to buy Twispay

The National Bank of Romania has greenlighted an acquisition in the blockchain industry, authorizing the blockchain startup Elrond to acquire a payment processing platform. Elrond, a blockchain firm focused on distributed applications, received approval to purchase the electronic money institution Capital Financial Services, which acts under the brand Twispay, according to an announcement released on Thursday. Twispay provides an international payment solution supporting multiple fiat currencies and integrating various payment methods. The firm is a principal member of Visa and Mastercard, meaning that it directly participates in issuing cards and…

Pakistan’s Central Bank Sees Few Good Use Cases for Crypto Citing ‘a Lot of Misuses’ Worldwide – Regulation Bitcoin News

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The central bank of Pakistan does not see many good use cases for crypto. However, the regulator cites “a lot of misuses” of cryptocurrency around the world, “including human rights violations, trafficking of people, money laundering, and many other things.” Pakistani Central Bank Governor’s Stance on Crypto The governor of the State Bank of Pakistan (SBP), Reza Baqir, talked about cryptocurrency during a panel discussion at the 13th Karachi Litera­ture Festival Sunday, Dawn newspaper reported. Asserting that crypto lacks good use cases, the Pakistani central bank governor remarked: When we…