Tag: Bank

Bank of England releases stablecoin regulation plan

The UK is setting new regulations for stablecoins and the wider cryptocurrency market, aiming to enhance financial stability and consumer protection while fostering innovation. The Bank of England (BOE), working with the Financial Conduct Authority (FCA), is rolling out a plan to manage the stablecoin market—cryptocurrencies that are usually tied to a stable asset like the British pound. This move comes right after the UK government shared its own rules for overseeing digital currencies. JUST IN: 🇬🇧 Bank of England proposes allowing stablecoins as a payment option for goods and…

DZ Bank partners with Ripple to launch blockchain custody service

DZ Bank launches a blockchain-based digital asset custody platform, advancing Germany’s crypto services for institutional and private clients. The second largest bank in Germany, DZ Bank, has unveiled a proprietary service for safeguarding crypto assets, targeting institutional clientele. This service will leverage the capabilities of Metaco Harmonize, a platform developed by the blockchain firm Ripple. The move signifies a merger of conventional banking and blockchain in Germany. The partnership also signifies an achievement for Ripple, as the blockchain’s integration across traditional banking continues to grow. Ripple has been on a…

Germany’s DZ Bank Launches Institutional Crypto Asset Custody Platform

DZ Bank’s current infrastructure makes it possible for the bank to take part in the exploratory phase of the ECB’s project testing the settlement of large-volume capital market transactions in central bank money.  Germany’s third-largest bank DZ Bank has launched a blockchain-based platform for the processing and custody of crypto assets. The platform will cater to institutional clients, offering them crypto securities the crypto bond from Siemens, which “DZ Bank subscribed to six months ago and which could now be transferred to self-custody.” “We assume that within the next ten…

SGKB announces partnership with SEBA Bank to offer digital asset custody, brokerage services

According to a Nov. 2 post on X, SEBA Bank has announced a new partnership with St. Galler Kantonalbank (SGKB) to offer users the chance to buy and trade cryptocurrencies like Bitcoin and Ether. SGKB is the fifth largest bank, with 35 branches in the eastern part of Switzerland. A major milestone As part of the announcement, the bank states that the initial group of clients to be served will consist of the bank’s wealth management customers, followed by retail customers and alongside plans to introduce additional coins and staking…

Bug in Fed’s payment system prevents bank customers from getting paid

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Some of the largest United States banks are not able to facilitate customers deposits after one of the Federal Reserve’s payment systems suffered an outage on Nov. 3. The Federal Reserve said the bug was caused by a “processing issue” in the Automated Clearing House — a payment processing network widely used by banks and employers to deposit wages into employee bank accounts. The ACH is operated by the Federal Reserve Banks and the Electronic Payment Network. Banks stressed customer accounts “remain secure” and the Federal Reserve claims all of…

Ripple to power Georgia’s central bank digital currency, the digital lari

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The National Bank of Georgia (NBG) has selected blockchain payments network Ripple Labs as the official technology partner for developing digital lari, its central bank digital currency (CBDC) project. Ripple said in a  statement that the partnership will encompass the implementation and deployment of the Digital Lari pilot initiative through the Ripple CBDC Platform. The National Bank of Georgia will utilize this innovative CBDC platform to evaluate potential applications of the Digital Lari, determining its advantages to the government sector, enterprises, and individual retail users. Before being designated as NBG’s technology partner, Ripple…

Swiss Bank SGKB Partners with SEBA Bank to Bring Bitcoin and Ethereum Trading to Clients

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The Swiss banking industry has been incredibly receptive to crypto with many local banks adding cryptocurrency services to their offerings. Swiss bank St.Galler Kantonalbank (SGKB) has launched Bitcoin and Ether trading with plans to add more cryptocurrencies in the future based on client feedback. The cryptocurrency service is made possible by a partnership with crypto-focused bank SEBA and comes after a brief testing period earlier this year. Launched on November 1, the service is currently available to a select group of clients. The service is St.Galler Kantonalbank’s (SGKB) first foray…

SNB Working With SIX Stock Exchange, 6 Banks on Wholesale Central Bank Digital Currency Pilot

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