Tag: Bank

Bank of Korea Suspends Next Phase of Its CBDC Project

Key Notes The Bank of Korea (BOK) will not proceed with its Central Bank Digital Currency (CBDC) project for now. The Korean government’s increasing support for local currency stablecoins possibly triggered this decision. Eight major South Korean banks plan to launch a won-pegged stablecoin. Local newspaper Business Times recently reported that the Bank of Korea (BOK) has paused its Central Bank Digital Currency (CBDC) project. Before making this decision, the project had advanced to the stage of developing a pilot program with participating banks. However, the BOK ultimately decided that…

Dollar-Free Future Accelerates as Putin and BRICS Bank Chief Discuss Digital Payment Platform

BRICS nations are accelerating a bold push to upend dollar dominance as Putin and the BRICS Bank leader discuss digital payment platforms and national currency systems reshaping global finance. Putin and BRICS Bank Head Discuss Payment Platform to Undercut Dollar Dominance As global economic blocs accelerate de-dollarization efforts and seek to reduce dependence on the […] Source CryptoX Portal

South Korea Central Bank Won’t Oppose Stablecoin: Report

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The head of South Korea’s central bank has reportedly said he is not against the country issuing a won-based stablecoin, but is still concerned about managing the foreign exchange of the token. Reuters reported on Wednesday that Bank of Korea Governor Rhee Chang-yong said at a press conference that “issuing won-based stablecoin could make it easier to exchange them with dollar stablecoin rather than working to reduce use of dollar stablecoin.” That in turn could increase demand for dollar stablecoin and make it difficult for us to manage forex,” he…

Hackers Shut Down Bank, Then Target Crypto Exchange for $81,700,000 in Bitcoin, DOGE, Tron and More

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An Israeli group of hackers is reportedly taking credit for major cyberattacks against an Iranian bank and a crypto exchange. The Israeli hacking group Predatory Sparrow is claiming responsibility for the cyberattack against Iran’s Bank Sepah that has left customers unable to access their funds, reports Axios. Local Iranian news has reported that customers’ cards are completely unusable, the mobile app and digital services are down, and most ATMs are out of cash. Said one man in Tehran, the country’s capital, “I’ve visited ten ATMs today… None had any cash.”…

Spanish bank BBVA advises wealthy clients to invest in Bitcoin: report

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Spanish banking giant BBVA is reportedly advising its wealthiest clients to buy Bitcoin, just months after announcing plans to offer cryptocurrency trading to its customers. According to a report by Reuters, BBVA has advised its top money clients to have 3% to 7% of their portfolio allocated to Bitcoin (BTC) and cryptocurrencies.  The suggested allocation depends on an investor’s risk appetite, said Philippe Meyer, Head of Digital & Blockchain Solutions at BBVA Switzerland. Speaking at the DigiAssets conference in London, Meyer revealed that the bank has been advising its private…

Bank of America Charts Bitcoin Among Most Disruptive 1,000-Year Innovations

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Bank of America now places bitcoin among the most disruptive forces in a millennium, signaling Wall Street’s awakening to its historic role in reshaping global financial power. 1,000 Years of Disruption: Bank of America Ranks Bitcoin Among Humanity’s Greatest Innovations Bank of America (BofA) Global Research released a long-term chart outlining 1,000 years of technological […] Original

Stablecoins May be Safer Than Bank Deposits: Proof of Talk Panel

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Stablecoins may be safer than deposits held at commercial banks, according to Diogo Monica, general partner at Haun Ventures. Speaking during a panel discussion titled “Stablecoins: Programmable Money in a Digital World” at the Proof of Talk conference in Paris on June 10, Monica said that many stablecoins are backed by reserves held at globally systemically important banks (G-SIBs) or in short-term US Treasury bills, which he views as more secure than commercial bank deposits. “It’s actually much better than having a dollar in a commercial bank,” Monica said. Proof-of-Talk…

Report: Deutsche Bank Assesses Leveraging Stablecoin Tech or Consortium Role

Deutsche Bank AG is exploring stablecoins and tokenized deposits as large financial institutions increase digital asset investments. German Financial Giant Ponders Stablecoin Use and Token Deposits Bloomberg reports that Germany’s largest lender is evaluating stablecoin options, which could involve issuing its own token or joining an industry initiative, according to Sabih Behzad, Deutsche Bank’s head […] Source CryptoX Portal

From Central Bank Halls to Web3 Frontiers — An Interview With Fastex CEO

Few crypto executives have the résumé of Vakhtang Abrahamyan: decades in central banking, now leading a global Web3 company. At Bitcoin 2025, we talked about Fastex’s expansion, RWA tokenization, exchange security, and more. An Interview With Vakhtang Abrahamyan I sat down with Fastex CEO Vakhtang Abrahamyan at the Bitcoin Conference 2025, this year in Las […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin Scarcity May Spark Explosive Surge, Bank Study Shows

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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…