Tag: Bank

Deutsche Bank Shares Jump 7% as Q3 2023 Revenue Beats Expectations

Thanks to its stellar financial performance in the third quarter, the bank has raised its full-year outlook for 2023. Shares of German banking giant Deutsche Bank (ETR: DBK) surged by a remarkable 7% on Wednesday morning following the company’s stellar Q3 2023 performance that exceeded market expectations. Despite an 8% decline in net profit compared to the previous year, the bank’s Q3 2023 net profit of €1.031 billion surpassed the €997 million analysts earlier predicted. Its strong financial performance makes it the thirteenth consecutive profitable quarter for the bank. Deutsche…

Bank of Spain embraces ‘digital euro,’ explains its benefits

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Banco de España, Spain’s central bank, has joined a chorus of European banking institutions preparing their customers for the potential benefits of a digital euro. The central bank published a short text on Oct. 19 explaining the nature and uses of the European Union’s potential central bank digital currency (CBDC). The bank claims that the physical cash format “does not allow to exploit all the advantages offered by the growing digitalization of the economy and society.” However, the digital euro will make electronic payments a vital piece of the financial system.…

World Bank Issues First Digitally Native Note on Luxembourg Stock Exchange

The basis for this issuance was Corda, R3’s digital ledger technology (DLT) platform that offers a sustainable infrastructure for digitally native notes. In a first, the World Bank has listed the “first digital native security” or “digital native note (DNN)” on the Luxembourg Stock Exchange (LuxSe). The €100 million DNN, listed on the Luxembourg Stock Exchange, is a key element of a more extensive endeavor to create a sustainable digital infrastructure for DNN issuance. The issuance happened through the involvement of Citi’s Issuer Services in the role of the issuing…

World Bank Blockchain Bond Debut

The World Bank International Bank for Reconstruction and Development (IBRD) has taken a pioneering stride in the realm of blockchain and digital finance, spearheading a groundbreaking €100 million digitally native note (DNN) issuance.  Facilitated by Euroclear’s cutting-edge distributed ledger technology (DLT) issuance platform, this monumental event has garnered significant attention across the global financial landscape. The announcement of the listing of the blockchain bond on the Luxembourg Stock Exchange has marked a significant milestone in the financial industry. Notably, Citi played a pivotal role as the issuing and paying agent,…

Euroclear launches digital securities issuance service, settles World Bank bond

Euroclear has launched a digital securities issuance service and settled a 100-million-euro ($106 million) digital World Bank bond. This is the first step in the Brussels-based settlement house’s digital infrastructure strategy, it said. The three-year bond, which is being called a digitally native note, was issued by World Bank lending arm International Bank for Reconstruction and Development to raise funds for sustainable development. It was listed on the Luxembourg Stock Exchange and was completed on Oct. 23. Related: Europe drives institutional crypto adoption: Blockchain Expo Amsterdam Euroclear’s digital infrastructure is…

Standard Chartered’s SC Ventures and Deutsche Bank Make History with UDPN

To demonstrate the potential of UDPN, Standard Chartered’s SC Ventures and Deutsche Bank conducted a trial. Standard Chartered’s SC Ventures and Deutsche Bank have achieved a significant milestone by completing the first Proof of Concept (PoC) for the Universal Digital Payments Network (UDPN). This groundbreaking initiative aims to revolutionize the way digital payments are conducted by connecting payments across various Central Bank Digital Currency (CBDC) and blockchain networks, using a messaging system similar to Swift. The Birth of UDPN UDPN is not the brainchild of Standard Chartered and Deutsche Bank…

Schwab bank deposits down 30% YoY, Bitcoin up 50%

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The Charles Schwab Corp. is experiencing a decline in customer deposits amid the rising interest rates in the U.S., while Bitcoin (BTC) is up by 50% year-over-year. Schwab’s financial odyssey Charles Schwab, recently spotlighted by Finbold, has experienced a notable decline in bank deposits, even as the price of BTC continues to rise significantly. The firm, known for its Bitcoin skepticism, reported disappointing third-quarter (Q3) results: consumer bank deposits saw a 28% year-on-year. Charles Schwab also recorded a 23.5% drop in net interest revenue. Overall revenue hovered at around $4.61 billion…

Argentine central bank to introduce digital peso bill ‘as soon as possible’

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After a series of remarks about the potential benefits of a central bank digital currency (CBDC) for the national economy, the Central Bank of the Argentine Republic said it has accelerated its work on legislation to implement the CBDC workflow in the country.  On Oct. 18, during a public discussion on the Filo News channel, Argentina Central Bank director Juan Agustín D’Attellis Noguera revealed that the central bank is working on the legislative framework for the digital peso CBDC project recently proposed by the Minister of Economy and presidential candidate Sergio…

When Will The Bitcoin Bear Market End? US Mega Bank Has The Answer

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In a recent development, leading investment bank Morgan Stanley has weighed in on when the lingering Bitcoin bear market is likely to end. Interestingly, they share some similar views with analysts who have made predictions in the past.  Bitcoin Halving A Major Factor In an article released by the investment bank, Morgan Stanley highlighted Bitcoin’s importance as the leading crypto and how the Bitcoin Halving, which is set to take place in April 2024, could affect its price and other crypto tokens by extension.  Bitcoin halving is a deflationary measure…

Standard Chartered Bank to Launch Crypto Custody Service in Dubai

Starting from the first quarter of 2024, the crypto custody service will be operated by Zodia Custody – the leading institution-first digital asset custodian by Standard Chartered. British multinational services company Standard Chartered PLC (LSE: STAN) is planning to launch a crypto custody service for Bitcoin (BTC) and Ethereum (ETH) to institutional clients in Dubai, UAE. The service will be available as soon as the first quarter of 2024. In addition, the bank has ambitious plans to establish a cryptocurrency settlement network. Standard Chartered marked its presence in the UAE back in…