Tag: Bank

Swiss Digital Bank Sygnum Raises 750 Bitcoin ($65M) for BTC Alpha Fund

Key Notes Institutional Bitcoin fund demonstrates yield generation through market-neutral arbitrage strategies during volatile conditions. Delta-neutral approach converts derivatives trading profits back into Bitcoin to grow investor holdings over time. Fund shares serve as Lombard loan collateral enabling liquidity access without reducing cryptocurrency exposure. Sygnum, a digital asset banking group based in Switzerland and Singapore, and Starboard Digital have successfully raised a reported 750 Bitcoin BTC $83 829 24h volatility: 6.3% Market cap: $1.68 T Vol. 24h: $65.08 B worth approximately $65 million in seed funding after launching the Starboard…

Bybit to Launch Retail Bank Accounts

Key Notes Bybit is prepared to offer banking services that will allow customers hold balances in US dollars. Pave Bank is one of the partners for this initiative. Bybit’s latest move suggests a full recovery from its infamous 2025 hack. Dubai-based cryptocurrency exchange Bybit is set to roll out retail banking services on its platform by February. Dubbed “My Bank powered by Bybit,” this new product will let customers with accounts hold balances in USD as well as other fiat currencies. It plans to achieve this in collaboration with partner…

Bybit Launches Retail Bank Accounts With Personal IBANs

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Bybit, one of the world’s biggest crypto exchanges by trading volume, plans to launch retail banking services on its platform starting in February, the company said Thursday. Bybit unveiled the product, “My Bank powered by Bybit,” during a live online keynote on Thursday. Bybit CEO Ben Zhou said the service will offer users a personal IBAN (international bank account number), allowing them to send and receive funds across banks in multiple currencies, with US dollar transfers supported at launch. The move marks Bybit’s latest effort to expand beyond crypto trading,…

Banks Fear Stablecoin “Bank Run”, Regulators See No Impact

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Banks warn stablecoins — especially those paying yield — could pull deposits out of the banking system, but policy and finance experts say there’s little evidence of that so far. Major US bank Standard Chartered recently estimated in a research note that stablecoin growth could drain bank deposits. The report estimates “that US bank deposits will decrease by one-third of stablecoin market cap,” which currently stands at $308.15 billion according to DeFiLlama data. The debate has intensified as US lawmakers weigh whether to prohibit interest on stablecoin holdings under a…

South Korea Central Bank Warns Stablecoins Could Complicate FX Controls

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South Korea’s central bank chief warned that Korean won-denominated stablecoins could complicate capital flow management, adding a note of caution to an ongoing debate among lawmakers over whether and how domestic stablecoins should be issued, according to local reports. Speaking at the Asian Financial Forum in Hong Kong, Bank of Korea Governor Lee Chang-yong said authorities are considering a new registration framework that would allow domestic institutions to issue virtual assets, according to a report by Radio Television Hong Kong. He cautioned, however, that stablecoins remain controversial because of their…

Ripple Partners With Saudi Bank Unit on Blockchain Infrastructure

Ripple has partnered with the innovation arm of Riyad Bank, a major Saudi financial institution, to explore the use of blockchain technology within the country’s financial system, signaling growing interest in blockchain-based infrastructure at the institutional level. The partnership was announced Monday by Reece Merrick, Ripple’s senior executive officer and managing director for the Middle East and Africa. Merrick said Ripple is working with Jeel, Riyad Bank’s innovation unit, as part of an agreement to study potential applications of blockchain technology. Source: Reece Merrick The arrangement will take the form…

Ripple Expands in Middle East with Riyad Bank Partnership

Key Notes Ripple and Riyad Bank recently entered a strategic partnership to explore blockchain. Their goal is to strengthen financial services across Saudi Arabia. This partnership comes after Ripple secured an EMI license in Luxembourg. San Francisco-based blockchain payments firm Ripple Labs Inc. has bagged a major deal with Riyad Bank in the Middle East. Reece Merrick, the Managing Director of Middle East and Africa at Ripple, announced the new development on X, citing that it is a move targeted at advancing Saudi Arabia’s financial future through blockchain innovation. Jeel…

OCC Proceeds With Trump-backed WLF Bank Charter Application

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The Office of the Comptroller of the Currency said no political or personal financial ties will impact the procedural review of World Liberty Financial’s bank charter application. The Office of the Comptroller of the Currency has knocked back US Senator Elizabeth Warren’s bid to pause the review of World Liberty Financial’s application for a national trust bank charter, a move she sought until US President Donald Trump divests his stake in the crypto platform.   The OCC’s Jonathan Gould confirmed on Friday that WLF’s application will be evaluated under existing regulatory…

US Bank Lobby Says Fighting Stablecoin Yields A Top Priority

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The American Bankers Association (ABA) has made cracking down on stablecoin yield a top priority for 2026, amid its ongoing debate with US lawmakers that it will hurt the banking industry’s competitiveness. The ABA said on Tuesday that one of several priorities it has this year is to “stop payment stablecoins from becoming deposit substitutes that slash community bank lending by prohibiting paying interest, yield or rewards regardless of the platform.” Stablecoin oversight topped a list of five priorities, which also included fighting financial fraud, stopping arbitrary interest rate caps,…

Iran‘s Central Bank Acquired $507M in USDt to Prop up Rial: Elliptic

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The Central Bank of Iran reportedly stockpiled more than half a billion dollars worth of USDt amid escalating protests and crypto usage in the country. Blockchain analytics platform Elliptic reported that the Central Bank of Iran (CBI) acquired more than half a billion dollars worth of Tether’s USDt, with indications that the stablecoins were used to prop up the country’s fiat currency. In a Wednesday report, Elliptic said Iran’s central bank had about $507 million in USDt (USDT), the US dollar-pegged stablecoin issued by Tether. According to the platform, it…