“Currently, [Littio] is the only Latin American neobank using [our vaults], but we have more clients set to come online this year offering different types of USDC-based fintech services,” Jeff Handler, chief commercial officer at OpenTrade, told CoinDesk. Source
Pekao Bank from Poland, the country’s second largest lender, is making headlines by taking a bold approach to preserving art. Using the medium of blockchain technology, it has kept some of its most valuable artworks in an Arctic vault, and less exposed to the elements. This is just one of the latest developments from a growing practice: slowly but surely, more and more institutions are coming to realize that protecting cultural heritage against environmental damage and degradation is long overdue. Therefore, Pekao Bank created digital representations of art with a…
The Australian financial institution ANZ Bank has joined Project Guardian, a Monetary Authority of Singapore (MAS) initiative exploring the digitization of financial markets. In partnership with Chainlink Labs and ADDX, ANZ will investigate the interoperability of private blockchains for exchanging tokenized assets like commercial paper. ANZ aims to contribute to developing a stable, secure digital […] Source CryptoX Portal
The Bank of Russia has explained that the launch of the digital ruble, the Russian CBDC, will not affect the state’s mechanisms to control inflation or the amount of money issued. The institution clarified that the new currency does not pose risks to the country’s financial stability, and will not change the functions of the […] Source CryptoX Portal
The Central Bank of Tanzania will purchase 20% of all the gold directed for exports as the country prepares to diversify its reserves. The movement is seen as a reaction to the current acceleration of gold prices, with Tanzania aiming to amass at least 6 tones of gold this financial year. Mining Regulator in Tanzania […] Source CryptoX Portal
“The new inflow of cash could indirectly push up the price of bitcoin, particularly in the long term perspective,” one analyst said. Original
The Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) by 50 basis points to 27.25% and increased the Cash Reserve Ratio (CRR) for banks. These measures aim to combat inflation and stabilize the Nigerian economy. The CBN governor, Olayemi Cardoso, stated that the reforms implemented have restored the bank’s credibility and boosted […] Source CryptoX Portal
The adoption of cryptocurrency, especially Bitcoin, for remittances has failed to surge in El Salvador, even with the support of President Nayib Bukele’s administration. According to data provided by the Central Reserve Bank, only 1.1% of all remittances sent to the country from January to August 2024 include cryptocurrency. Report: Adoption for Remittances Reach Only […] Source CryptoX Portal
South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test. Retail partnerships and global initiatives like Project Agora highlight the broader impact of […] Source CryptoX Portal
Bank of New York Mellon, the largest U.S. custodian bank, scored an exemption from a controversial SEC rule that may enable Bitcoin custody. Institutional custody of Bitcoin (BTC) and cryptocurrencies in the U.S. took a step forward as BNY Mellon was reportedly granted permission to operate outside the Staff Accounting Bulletin No. 121, also known simply as SAB 121. The Securities and Exchange Commission’s SAB 121 advised entities holding customer crypto to report such holdings as corporate liabilities. SAB 121 also required financial service providers to disclose the type of…