Tag: Bank

XRP Won’t Turn Into Bank Stablecoin Post-AMM Launch: Expert

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In the wake of Ripple’s announcement regarding the integration of an Automated Market Maker (AMM) into the XRP Ledger (XRPL), the community has been abuzz with speculation and debate. Central to this discourse is the potential transformation of XRP in light of this update, particularly in regard to its classification and function as a digital asset. Ripple’s Chief Technology Officer, David Schwartz, previously hailed this update as the most significant for XRPL, raising expectations among stakeholders. Additionally, at the recent Swell conference, Ripple revealed plans to integrate its rebranded Ripple…

Major Bank Predicts Significant Interest Rate Cuts – Blockchain News, Opinion, TV and Jobs

Strategists at UBS Investment Bank are forecasting massive interest rate cuts by the U.S. central bank, and this is seen as bullish for Bitcoin. The decreasing inflation, according to UBS, makes it possible for the U.S. central bank (Federal Reserve) to begin reducing interest rates as early as March. This development is perceived as highly positive for Bitcoin, especially in light of recent economic indicators. US Inflation Broadly Slows, Erasing Bets on More Fed Rate Hikes Recent data reveals a slowdown in U.S. inflation, erasing expectations for further Federal Reserve…

Lloyds Bank issues urgent warning of crypto scams in the UK

A recent press release issued by Britain’s Lloyds Bank shares that crypto scams that have surged 23% over the course of the year. Young investors between the ages of 25 and 34 years old are said to be the most prevalent target for these attacks. Social media home base The press release goes on to report victims of crypto investment scams are facing an average loss of £10,741, marking an increase from the previous year’s £7,010.  Additional data goes on to state that 66% of all investment scams originate on social media…

UK cryptocurrency scams jump 23%, young investors prime targets: Lloyds Bank

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One of the Big Four banks in the U.K., Lloyds Bank, has said that reports of cryptocurrency investment scams by victims have surged by 23% in the current year compared to the same period in 2022. According to a press release published by Lloyds Bank, an increasing number of investors face the threat of falling victim to fraudulent schemes through a wave of fake adverts posted on social media. Each victim of a cryptocurrency investment scam is losing an average of $13,115 (£10,741), an increase from $8,562 (£7,010) the previous…

Xapo Bank launches ETH, ADA, MATIC buying

Xapo Bank announced to crypto.news that it will become the first licensed retail bank to offer its customers the ability to buy, sell and hold Ethereum (ETH), Cardano (ADA) and Polygon (MATIC) cryptocurrencies. The bank, which received its full banking license in Gibraltar in 2018, has previously only allowed customers to hold Bitcoin, stablecoins like USDC and Tether, and fiat currencies like U.S. dollars and British pounds. By expanding into other major cryptocurrencies like ETH, ADA, and MATIC, Xapo is aiming to provide its users a “one-stop shop” for digital…