Tag: Bank

Germany’s Largest Development Bank Prepares for Tokenized RWA Issuance with Boerse Stuttgart Digital in ECB Trial

“As one of the world’s largest and most active bond issuers, we are actively driving digitalisation initiatives in the issuing and settlement process,” Gaetano Panno, head of transaction management at KfW, said in a statement. “The utilization of new technologies as part of the ECB trials enables us to technically process a ‘delivery vs. payment’ transaction and thus supports our digital learning journey.” Source

Web3 challenges lead Hong Kong official to push for virtual bank expansion

Hong Kong legislator Johnny Ng has called for an expansion of virtual bank services to address hurdles faced by web3 startups in the region. Hong Kong should embrace a more crypto-friendly approach by expanding virtual banking services as web3 startups face ongoing hurdles in accessing financial services, Johnny Ng, a member of the Legislative Council of Hong Kong, said in an X post on Aug. 9. 香港金融管理局早前發表虛擬銀行報告。我對於過去特區政府幾年支持銀行業服務升級和虛擬銀行發展表示讚賞，但同時我的團隊做了一個關於Web3公司對香港銀行服務的意見，調查表示，Web3公司出現開户難情況，導致不能有效地發展業務。因此，我今天記者會提出： 1.… pic.twitter.com/srDiDOhvwC — Johnny Ng 吴杰庄 (@Johnny_nkc) August 9, 2024 Ng emphasized the need for virtual banks to diversify their services and proposed…

Crypto-Friendly Bank Ordered by U.S. Federal Reserve to Limit Risks From Digital Asset Clients

Under the order, the bank has to soon provide the Fed a series of written plans and a new approach to compliance, including an agreement to “ensure that the Bank collects, analyzes, and retains complete and accurate information for all customers.” The bank must notify the Fed 30 days in advance of taking on “any new strategic initiative, product, service, or relationship with third parties related to the digital asset strategy.” Source

Bitcoin (BTC) Keeps Weekly Loss as ‘Anti-Risk’ Yen (JPY) Strengthens After Bank of Japan Rate Hike

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Bitcoin held steady near $66,000, nursing a weekly loss of 2% on expectations for renewed rate cuts from the U.S. Federal Reserve. That spurred demand for the “anti-risk” yen, sending the USD/JPY rate down to nearly 150, the strongest for yen since March, according to data source TradingView. Futures tied to the S&P 500 rose 0.4%, signaling a positive open on Wednesday. Original