Tag: Bank

Bank of Korea to Involve 100K Citizens in CBDC Testing

The Bank of Korea will be looking to use the pilot stage of its CBDC to determine things such as acceptability and ease of use. South Korea, through its apex bank – The Bank of Korea (BOK) – has revealed its plans to begin testing its central bank digital currency (CBDC) in 2024. A local news outlet Korea Times confirmed the report, saying that the testing will begin either by September or October, running for three months. The report also claimed that South Korea will allow 100,000 citizens to participate…

Milei vowed to close Argentina’s central bank — But will he do it?

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The image of a presidential candidate destroying a model of the central bank with a sledgehammer will not leave Argentines’ memories for a long time. But once President-elect Javier Milei is seated on the throne on Dec. 10, will he still have the courage to follow a winding and risky path? Argentina carries — with its nine defaults — the title of world champion in the category of defaulting on risk. It is currently the International Monetary Fund’s largest creditor, and with a credit risk assigned by Fitch Ratings as…

Austria’s Raiffeisen Bank to Launch Retail Crypto Trading Services for Customers in Vienna

Raiffeisen Bank will first roll out the services to small-scale customers who can invest as little as one euro in the country’s capital city of Vienna and the historic headquarters of the 97-year-old bank where most residents live. Austria’s financial landscape is gearing up for a major transformation as Raiffeisen Bank International announces the launch of its crypto trading services for retail customers, CoinDesk reported, citing an interview with the company’s head of innovation, Curt Chadha. According to the report, the bank partnered with the Vienna-based digital assets trading platform…

European CBDC Not a Pressing Need for EU Payments, Spain Central Bank Chief Pablo Hernández de Cos Says

“I believe it is our responsibility – not only the central bank’s, but also the financial industry’s – to be ready to ensure that a service which is key to society’s well-being, as the payment system is, does not come under threat. Therefore, and irrespective of the decision which is ultimately made, I believe that all the Eurosystem’s past and future efforts are fully warranted,” Hernández de Cos said. Source

Tether’s bank partner Britannia sued over $1B deposit: Report

Tether’s bank partner Britannia Financial is reportedly facing a lawsuit over claims it failed to pay the full price of revenue-generating assets allegedly related to a large deposit from Tether. Arbitral International, a company registered in the British Virgin Islands, has sued Britannia over a $1 billion deposit from Tether, the Financial Times reported on Nov. 21, citing court documents filed in the High Court of Justice in London in 2023. The lawsuit relates to Britannia’s acquisition of Arbitral’s Bahamas-based brokerage business known as Arbitral Securities. Britannia announced the acquisition…

Santander Private Bank Introduces Crypto Trading for Swiss Clients

Santander has made this move while most big banks limit their exposure to decentralized blockchains and the cryptocurrencies running on them. Santander Private Banking International has announced plans to allow its high-net-worth Swiss clients a chance to trade crypto assets. The bank will offer these clients a chance to buy, sell, and hold two major cryptocurrencies – Bitcoin (BTC) and Ether (ETH). It also plans to add further cryptocurrencies that meet its criteria. According to the banking giant, the service will be provided based on client requests through relationship managers.…