Tag: Bank

India CBDC Insider Reveals Current Stance of Country’s Central Bank

The Reserve Bank of India (RBI) is now looking into technology solutions to solve privacy concerns posed by a digital rupee, the official said. While the bank is maintaining a careful stance on crypto, the person said, it wouldn’t plan to object if the government decided to reduce a controversial tax that has stifled the crypto industry. The RBI isn’t mandated with legislating taxes, so that decision falls out of its purview. However, the central bank has stepped beyond its role before to try to ban crypto, so its apparent…

Germany’s DZ Bank to run crypto trading trial in 2024

DZ Bank, Germany’s second-largest financial institution, plans to launch a cryptocurrency trading pilot. Souad Benkredda, a board member at DZ Bank, stated that the Frankfurt-based bank aims to offer a variety of cryptocurrencies. The initiative is designed for customers who prefer to invest independently without seeking financial advice. “According to a study by the Genoverband, every second bank wants to offer this solution for their customers.” Souad Benkredda in an interview with Bloomberg However, Benkredda noted that the decision to adopt such a service ultimately rests with each individual institution.…

Sygnum Closes $40M Round As the Crypto Bank Nears ‘Unicorn’ Status

“The broader industry is emerging from the ‘crypto winter,’ and investors and market participants are increasingly seeking to partner with trusted and well-managed financial institutions,” Gerald Goh, the firm’s co-founder and CEO of its Singapore operations, said in a release. “For Sygnum, this fundraise will allow us to further build out our suite of fully regulated solutions to support investors as they increase their exposure to the asset class. Source

US Bank Foresees Major Bitcoin Price Drop To $20,000

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The crypto space is currently facing bearish signals as the price of Bitcoin has failed to maintain crucial levels at $42,000, slipping to $39,909 at the time of writing. United States financial service provider Deutsche Bank, foresees even more declines in the upcoming months, projecting the value of Bitcoin to dip below $20,000.  Deutsche Bank Predicts Massive Bitcoin Decline Reports from Bloomberg, referencing a recent survey made from January 15 to January 19, 2024, by Deutsche Bank reveals investor’s sentiments regarding the volatility and future trajectory of BTC’s price. The…

Retail investors worry bitcoin will plunge below $20,000, bank survey says

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Crypto skeptics aren’t changing their tune just because they can now buy bitcoin exposure through an exchange traded fund, according to a Deutsche Bank survey. Since the launch of the ETFs on Jan. 11, bitcoin has fallen about 20% to roughly $39,000, according to FactSet. So far, institutions have been slow to adopt the new funds in portfolios and retail investors aren’t entirely convinced they need to, London-based Deutsche Bank analyst Marion Laboure said in a note Tuesday. The bank polled 2,000 consumers across the U.S., U.K. and Europe after…

American Investment Bank TD Cowen Says Ethereum ETF Will Be Delayed

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Despite the United States Securities and Exchange Commission (SEC) granting approval for Spot Bitcoin ETFs, TD Cowen, a prominent American investment bank and financial service firm, foresees potential delays in the approval process of Ethereum Spot ETFs.  Ethereum Spot ETF Faces Potential Hold-Up TD Cowen, an investment bank and financial service division of TD Securities has made a bold forecast, predicting that the US SEC is unlikely to approve Ethereum Spot ETFs before its deadline. Presently, the SEC is obligated to make its final decision on its rejection or acceptance…