Tag: Bank

Hong Kong central bank warns against crypto firms using banking terms

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The Hong Kong Monetary Authority (HKMA), the special administrative region’s central bank, has issued a warning to users that crypto businesses presenting themselves as banks and using banking terminology could be violating the region’s banking laws.  In a press release, the HKMA said that the use of certain banking terms may be misleading the public, causing users to think that the crypto firms are authorized banks in Hong Kong. However, the central bank highlighted that under the region’s banking laws, only licensed institutions are allowed to carry out banking or…

Stablecoin Launch By Aussie Bank Looms After Chainlink Blockchain Trials

Australia and New Zealand Banking Group ANZ is close to releasing its Australian dollar-pegged stablecoin, A$DC, following a successful test transaction on Chainlink.  In a statement, ANZ’s banking service portfolio lead, Nigel Dobson, said they see high potential in tokenizing real-world assets (RWA) like the Australian dollar on-chain. According to Dobson, the stablecoin’s test transaction on Chainlink’s cross-chain interoperability protocol (CCIP) marks a milestone for the bank. ANZ Bank Explore Suitable Networks To Launch Stablecoin In the statement, Dobson also revealed that ANZ is exploring several networks to determine the best…

Altcoins Lead Gains and Deutsche Bank to Explore Tokenization

As bitcoin (BTC) moves higher, the recently shorted alternative cryptocurrencies like Solana’s SOL may see leverage liquidations and exaggerated price rallies. Since Monday’s brief move below crucial support at $25,000, bitcoin has risen over 6% to trade near $26,600, CoinDesk data show. Upbeat China August retail sales and factory output data released early Friday revived risk sentiment in financial markets, clearing the way for continued price gains in the leading cryptocurrencies. Bitcoin cash (BCH) led advancers, adding 8% over the past 24 hours. Maker DAO’s MKR followed with a rise…

Deutsche Bank Announces Strategic Partnership with Taurus to Offer Crypto Custody Services

Deutsche Bank with about €1.3 trillion in assets under management will leverage the Taurus tokenization to manage customers’ digital assets. Germany’s leading banking institution for over 150 years Deutsche Bank AG (NYSE: DB) has announced a strategic partnership with Taurus SA to provide crypto asset custody services to its global customers. According to the announcement, the two institutions will collaborate to provide tokenization services in addition to digital asset custody. Following the announcement, Bitcoin price and the entire crypto market edged about 2 percent higher in the past 24 hours…

Major Aussie bank takes next step to AUD stablecoin after Chainlink test transaction

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Australia and New Zealand Banking Group is one step closer to launching its bank-issued stablecoin A$DC after the bank successfully executed a test transaction on Chainlink’s Cross-Chain Interoperability Protocol (CCIP): ANZ’s banking services portfolio lead Nigel Dobson said the transaction was a “milestone” moment for the bank in a Sept. 14 statement: “ANZ recently worked with Chainlink CCIP to complete a test transaction to simulate the purchase of a tokenised asset, facilitated using A$DC and an ANZ-issued NZ-dollar-denominated stablecoin.” Dobson said the firm has been experimenting with several networks —…

Deutsche Bank partners with Swiss firm Taurus to offer digital asset services

On Sep. 14, Deutsche Bank, an international financial institution headquartered in Germany, divulged its strategic foray into crypto and blockchain technology after collaborating with Taurus, a Swiss enterprise with expertise in multiple domains—ranging from the issuance of digital currencies to the secure custody and trading of tokenized assets and non-fungible tokens (NFTs). Paul Maley, the head of Deutsche Bank’s securities services, stated that this move aligns with the growing demand for digital financial products among their clients. Initially, Deutsche Bank aims to provide custody services for selected crypto and certain…

Deutsche Bank taps Taurus for global crypto custody services

The German bank was one of a handful of company’s to invest in a $65 million, series B fundraising round for Taurus in Feb. 2023. The company offers enterprise-grade infrastructure to issue, manage custody and trade cryptocurrencies, tokenized assets, nonfungible tokens (NFTs) and other digital assets. According to Taurus co-founder Lamine Brahimiaurus, the partnership underwent a “thorough and very detailed” due diligence process before the German bank decided to use its infrastructure services: “It started, end of 2021 and ended somewhere in 2022. We won the deal a couple of…

Singapore Central Bank Issues 9-Year Ban to Three Arrows Capital Founders

The MAS has also banned them from managing, acting as a director, or even being a substantial shareholder of any capital market services business operating in Singapore. In the latest development, the central bank of Singapore has issued nine years of prohibitions to the founders of Three Arrows Capital Kyle Davies and Su Zhu over the alleged violations of the country’s securities laws. On Thursday, September 14, the Monetary Authority of Singapore (MAS) said in a statement that Davies and Zhu have been banned from regulated activities during the prohibition…

Singapore’s central bank slugs Three Arrows founders with 9-year ban

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The Monetary Authority of Singapore (MAS) has issued a nine-year prohibition order to Three Arrows Capital (3AC) founders Kyle Davies and Zhu Su over alleged violations of the country’s securities laws. In a Sept. 14 statement, MAS said Su and Davies will be banned from regulated activities and won’t be permitted to manage, act as a director, or be a substantial shareholder of any capital market services business during the prohibition period that started Sept. 13. In its decision to bar the pair, MAS said Su and Davies failed to notify…