Tag: Bank

Poland’s 2nd Largest Bank Uses Blockchain To Preserve Country’s Cultural Treasures

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…

Aussie Bank Joins MAS’ Digital Asset Interoperability Project

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

Central Reserve Bank: Only 1.1% of Remittances Involve Cryptocurrency in El Salvador

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

Bank of Korea to Launch CBDC Payment Trial in Supermarkets

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

BNY Mellon SAB 121 exemption may herald bank Bitcoin custody

boss

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…

Germany’s DZ Bank to Offer Cooperative Bank Customers Cryptocurrency Trading Services

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…