Bank Archives

Crypto Exchange OKX Announces ‘Milestone’ Partnership With Investment Bank Standard Chartered

October 29, 2024 boss

The fourth-largest crypto exchange by trading volume is announcing a new partnership with a prominent international banking giant. In a new announcement, OKX says it is collaborating with Standard Chartered with the aim of enhancing custodial solutions for institutional clients. “Today we were pleased to announce that we’ve officially partnered with Standard Chartered, a leading international cross-border bank, as our third-party crypto custodian for institutional clients. This milestone reflects our commitment to security, innovation, and the future of digital assets.” According to the press release, Standard Chartered will act as…

2,430% Surge: Why Central Bank Digital Currencies Are Set to Explode

October 29, 2024

The explosive growth of central bank digital currencies, expected to surge 2,430% by 2031, could revolutionize global payments, slashing cross-border transaction costs by billions. The Global Payment Shake-Up: CBDCs Poised to Transform Transactions Juniper Research, a market research and consulting firm specializing in digital technologies and innovation, released a report on Monday, forecasting a massive […] Source CryptoX Portal

FV Bank and Visa launch new cards to merge crypto and USD

October 28, 2024

FV Bank and Visa have partnered to introduce new debit and corporate expense cards, which were announced at Money 20/20 in Las Vegas. FV Bank’s new Visa cards let customers spend fiat and digital assets globally, marking a first in integrated banking and crypto solutions for individuals and businesses. According to the bank, these cards will allow FV Bank customers, both in the U.S. and internationally, to access and spend funds from their traditional USD and digital asset balances, offering global payment options at millions of locations. Fiat or crypto …

Bolivia Ramps up Stablecoin Adoption as Bank Debuts USDT Services

October 28, 2024

Stablecoin demand and adoption are poised to increase in Bolivia, as a bank has presented a USDT service suite for the first time. Bisa Bank, a private institution, now allows customers to purchase, sell, and keep USDT funds in the bank, leveraging it for remittances and international payments. First Bank in Bolivia Introduces USDT Services […] Source CryptoX Portal

Will Banks Survive? Bank of England Prepares to Launch CBDC if Innovation Stalls

October 28, 2024

The Bank of England cautions it could deploy a digital currency if commercial banks falter, signaling a potential upheaval in the future of money. Digital Payments Showdown: BOE Set to Roll Out CBDC if Banks Slip Behind Bank of England (BOE) Governor Andrew Bailey shared his outlook on the evolution of digital payments in a […] Source CryptoX Portal

Ripple CEO Loses Bank Account After 25 Years, Given 5 Days to Withdraw Funds

October 28, 2024

Ripple’s CEO has revealed that his 25-year-old bank account was closed due to his role leading a crypto company, underscoring rising regulatory pressures and uncertain U.S. policies. Ripple CEO Brad Garlinghouse’s Bank Account Closed by Major Institution After 25 Years Ripple CEO Brad Garlinghouse has disclosed he was recently debanked, citing increased regulatory scrutiny impacting […] Source CryptoX Portal

Economist Explains Bitcoin’s Untapped Potential for Central Bank Reserves

October 28, 2024 boss

An economist has argued that bitcoin is a reserve asset similar to gold, noting that some central banks might consider adding it to their reserves. Economist Makes Bold Case: Bitcoin Could Protect Central Banks Like Gold The Bitcoin Policy Institute (BPI), a non-profit think tank, published a paper last week by economist Matthew Ferranti titled […] Original

Central Bank of Brazil Highlights Tokenization Potential Before IMF and World Bank

October 26, 2024

The Central Bank of Brazil propped up tokenization and “open finance” as key elements of the future’s financial system. In a panel presentation before the IMF and the World Bank, the bank’s president stated that the intersection between these had been underestimated. Central Bank of Brazil Considers Tokenization Potential ‘Underestimated’ In a recent panel presentation […] Source CryptoX Portal

World Bank: Nigeria Loses $8B on Foreign Exchange Subsidies Over 3 Years

October 25, 2024 boss

The World Bank reports that Nigeria lost over $8 billion due to the Central Bank of Nigeria’s (CBN) refusal to float the naira between 2021 and 2023. This foreign exchange subsidy, along with the fuel subsidy, deprived the government of revenue. The World Bank acknowledges the suffering caused by the government’s policies but insists they […] Source

The Slow Death of Private Blockchain Tech—R3 Reportedly Explores Sale Despite Big Bank Support

October 24, 2024

According to a recent report, R3, the private blockchain initiative backed by several major companies—including Intel, Bank of America, and Wells Fargo—has been looking into various strategic paths, including the possibility of a sale. Sources with knowledge of the situation noted that blockchain organizations such as Ava Labs and the Solana Foundation have reportedly been […] Source CryptoX Portal