Tag: Bank

Economic Intelligence Unit: Nigerian Central Bank Lacks Capacity to Defend Local Currency

The Economic Intelligence Unit has stated that the Central Bank of Nigeria cannot halt the rapid depreciation of the local currency. The continued volatility of the naira is expected to result in erratic regulation, primarily affecting businesses that hold foreign exchange. Nigeria Presses Ahead With Reforms The Economic Intelligence Unit (EIU) has stated that the […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Nigerian Central Bank, Real-World Asset Firm Partner to Revive Struggling CBDC

Gluwa, a platform for real-world assets, announced on March 7 its partnership with the Central Bank of Nigeria. The partnership arrangement aims to improve the functionality of the Nigerian central bank’s digital currency and promote financial innovation through blockchain technology. Improving the CBDC’s Utility Gluwa, a real-world assets platform, has entered into a partnership arrangement […] Source CryptoX Portal

Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency

Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a significant distance from such a possibility. He assured that any potential CBDC would not be designed for […] Source CryptoX Portal

Bank of America Merrill Lynch and Wells Fargo Begin Offering Spot Bitcoin ETFs to Clients, Report

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Bank of America’s Merrill Lynch and Wells Fargo’s wealth management arm have reportedly begun offering some clients access to spot bitcoin exchange-traded funds (ETFs). Other investment platforms that offer some clients access to spot bitcoin ETFs include Fidelity, Charles Schwab, Robinhood Markets, and UBS. Major Banks Embrace Bitcoin ETFs Bank of America’s investment arm, Merrill […] Original

Bank of America, Wells Fargo add spot Bitcoin ETFs to offering

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Two wealth managers on Wall Street will support spot Bitcoin ETFs nearly two months after the products debuted on major U.S. exchanges.  Bank of America’s Merrill Lynch and Wells Fargo will allow clients with brokerage accounts to trade spot Bitcoin (BTC) ETFs following billions in demand eight weeks after it became available. Bloomberg first reported the news, citing unnamed sources with intimate knowledge of the matter. Spot Bitcoin ETF issuers include some of the largest asset managers in the U.S., such as BlackRock and Fidelity. However, wirehouses and traditional banks…

Bank of America (BAC), Wells Fargo (WFC) to Offer Spot Bitcoin ETFs to Clients: Bloomberg

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