Bank Archives

Crypto Friendly Customers Bank Said to Debank Some Digital Asset Hedge Funds

June 7, 2024

The West Reading, Pennsylvania-based company, which is owned by Customers Bancorp (CUBI), deals only in U.S. dollars and does not accept cryptocurrency or make loans to support crypto activities. It offers its clients, estimated at well over a hundred digital asset firms, a real-time blockchain-based payments platform called Customer Bank Instant Token (CBIT) that allows crypto clients to make U.S. dollar payments 24/7. Source

Bitcoin Price (BTC) Could Rise as Bank of Canada Becomes First Western Central Bank to Cut Rates

June 5, 2024 boss

Other things being equal, tighter monetary policy is often a headwind for risk assets – bitcoin among them – as higher rates boost competition for investor capital. With a cycle of lower interest across Western economies seemingly at hand, bitcoin bulls might soon have their sights set on the crypto’s all-time high from March above $73,500. Original

Deutsche Bank and Bitpanda Collaborate Amid Crypto Banking Challenges

June 4, 2024

Deutsche Bank is collaborating with Bitpanda to manage customer fiat deposits and withdrawals for the Austrian crypto broker. This collaboration addresses the challenges crypto platforms have faced in securing banking partners after the 2023 collapse of key crypto-friendly banks. Deutsche Bank will issue local bank account numbers to Bitpanda users in Germany, facilitating fiat currency […] Source CryptoX Portal

Deutsche Bank (DBK) to Process Fiat-Crypto Transactions for Bitpanda in Germany

June 4, 2024

“Bringing the best parts of the industry together is where we can create real value for people … From today, we can access a range of Deutsche Bank’s products, unlocking benefits for our team and our users,” said Lukas Enzersdorfer-Konrad, Bitpanda’s deputy CEO, in the statement. Source

Singapore’s Largest Bank DBS Holds Nearly $650M in Ether (ETH): Nansen

May 30, 2024

Ether is the native token of Ethereum, the world’s leading distributed computing platform for creating smart contracts and decentralized applications. Over the years, Ethereum has become a go-to technology for investment banks to tokenize capital markets. Source

Bank of Israel Seeks Participants to Explore Central Bank Digital Currency (CBDC) Payments Scenarios

May 29, 2024

“In the challenge, for the first time, we allow the financial industry from Israel and abroad and a wide variety of stakeholders in the payments system to cooperate with us in a practical way in thinking, planning and designing the digital shekel,” said Andrew Abir, deputy governor of the Bank of Israel. Source

South African Central Bank Opts Against Publishing CBDC Study Findings

May 29, 2024

The South African Reserve Bank has reportedly decided not to unveil the findings of the initial phase of its central bank digital currency feasibility study. Instead, the central bank said it is currently focused on the second phase of the study and will release a report once it is satisfied with the progress made in […] Source CryptoX Portal

UK Digital Bank Blocks Clients From Performing Crypto Transactions

May 28, 2024

The London-based digital bank Kroo has barred its clients from engaging in cryptocurrency transactions, joining other U.K.-based banks in this decision. The bank cites the increasing cases of online fraud incidents involving cryptocurrencies as the reason for this move. Kroo to Decline Cryptocurrency-Related Bank Transfer Requests London-based digital bank Kroo has barred its customers from […] Source CryptoX Portal

Russian Traffic to Global Crypto Exchanges Surges; Central Bank Warns of Western Sanctions Risk

May 28, 2024 boss

The surge in Russian traffic to global cryptocurrency exchange platforms in the last two quarters has prompted officials to issue a warning about the risk of Western sanctions. According to a central bank study, Russian traffic to some of the largest crypto exchanges increased by 16.4%, reaching 104.6 million visits. Russian Share of Global Traffic […] Source

UBS Raises Gold Price Forecast Amid Rising Central Bank Demand and Geopolitical Tensions

May 25, 2024

UBS has raised its gold price forecast following a record surge in gold prices, driven by anticipated Federal Reserve rate cuts and a weakening U.S. dollar. The main factors behind the investment bank’s upgraded gold price prediction include softer U.S. economic data, increased central bank demand, and ongoing geopolitical uncertainties. UBS Revises Gold Price Prediction […] Source CryptoX Portal