Tag: Bank

Could The Digital Pound Be Non-Blockchain? Bank Of England Explores Options

While cryptocurrencies are widely known for running on blockchain technology, the Bank of England’s upcoming digital pound, colloquially known as ‘Britcoin’, could end up operating on non-blockchain software. The bank is considering all alternatives as it moves forward with researching the viability and implications of creating a digital pound. Tom Mutton, who is spearheading the bank’s Central Bank Digital Currency (CBDC) project, highlighted the uncertainty around the choice of technology in a recent podcast interview with Bloomberg. During a meeting that brought together numerous technologists to discuss potential designs for…

A Crypto Sandbox in a Big Business, Big Bank, Venture Capital Playground

And, while New York City is admittedly a hub for hubris, it’s not so bizarre to imagine the city as a center for crypto too. This was true before the crypto market crash last year and will likely continue amid a period of regulatory uncertainty. New York was one of the first jurisdictions to think seriously about crypto regulation, putting the so-called BitLicense into effect in 2015. Some firms, like Kraken, found the rules onerous and pulled out of the financial hub, but, for many, any amount of clarity was…

Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’: Report

boss

The head of the Swiss National Bank (SNB) has announced that the bank will launch a wholesale central bank digital currency (wCBDC) pilot project, according to a report. Reuters quoted bank chair Thomas Jordan as saying the project would begin “soon.”  The wCBDC will be issued on the Swiss SIX digital exchange and run for a limited time, Jordan was quoted as saying at the Point Zero Forum in Zurich on June 26. The SIX Group also runs Switzerland’s largest stock exchange. Jordan said, according to the report: “This is…

Singapore central bank reports on tokenized asset network models after trials

boss

As asset tokenization continues at a rapid pace, the Monetary Authority of Singapore (MAS) and 11 financial institutions examined infrastructure models to facilitate tokenized asset trading. The key to unlocking the full benefits of the technology is open and interoperable digital asset networks, the MAS said in its Project Guardian report released June 26. Project Guardian identified options for platform type, asset type and network access with an eye to best practices. It used three test cases and drew observations on them while carefully noting that it does not endorse…

Singapore’s Central Bank Proposes Interoperable Network Design for Tokenizing Assets

Singapore’s MAS created the report with 11 banking giants to run several pilots improve market issuance by tokenizing assets. The Monetary Authority of Singapore (MAS) is proposing a framework to develop open and interoperable networks for tokenizing assets. On Monday, the central bank published a report containing details of its proposal, called Project Guardian. The publication states that the MAS is already collaborating with 11 organizations working to develop and test tokenization across multiple asset categories. The test will feature foreign exchange, fixed income, and wealth management asset classes powered by a…

CACEIS Bank gains PSAN registration, becomes first digital asset custodian in France

CACEIS Bank, the French banking entity of the CACEIS group, has achieved a significant milestone by obtaining PSAN (digital assets service provider) status from the AMF (France’s financial markets authority), following the recommendation of the ACPR (France’s prudential control and resolution authority). With the newly acquired PSAN status, CACEIS Bank is now authorized to offer digital asset custody services to external parties, catering to the increasing demand from investment management firms and institutional investors. The sole recipient PSAN status for CACEIS signifies that the French financial markets regulator (AMF) and…

Brazilian Central Bank Adds Local Exchange Mercado Bitcoin in CBDC Pilot Including Mastercard

“We are pleased to be part of the consortium selected to join the Real Digital pilot in Brazil. Mastercard continues to engage in a series of partnerships to build trust and compliance in the digital assets ecosystem, while also solving real-world problems,” Walter Pimenta, executive vice president of Products and Engineering at Mastercard Latin America and the Caribbean, told CryptoX in a statement. Source AddsBankBitcoinBrazilianCBDCCentralExchangeIncludingLocalMastercardMercadoPilot CryptoX Portal

Circle and Sequoia were among top depositors at Silicon Valley Bank: Report

boss

Stablecoin issuer Circle and venture capital firm Sequoia Capital were reportedly among the top 10 depositors at the collapsed crypto-friendly Silicon Valley Bank (SVB) in March. According to a June 23 report from Bloomberg, the Federal Deposit Insurance Corporation (FDIC) provided documents suggesting that Circle, Sequoia and others were covered for deposits in the billions of dollars. The Federal Reserve announced following the SVB collapse that it would work with the FDIC to make both insured and uninsured depositors whole — in most situations, the FDIC only insures up to…

Rising institutional interest is a ‘bullish’ sign for crypto: SEBA Bank exec

boss

As more institutions go from only showing their interest in the crypto space into actually investing in Web3 projects, getting into crypto turns into a question of “when” rather than a question of “if” according to an executive from institution-focused crypto firm SEBA Bank.  At the World Token Summit, Cointelegraph spoke with chartered financial analyst Nasha Afshar, who works as a director at SEBA Bank. Afshar discussed topics like the institutional interest and adoption of crypto and trends that they’ve been noticing as of late. Cointelegraph reporter Ezra Reguerra with SEBA Bank’s…

BCB Group’s Deputy CEO Departs After Failed German Bank Acquisition

“I hired Noah as my deputy to help scale the business, focussing on integrating and expanding what would have been our German bank acquisition – Sutor Bank,” said Oliver von Landsberg-Sadie, CEO of BCB Group. “In light of the shift in the current banking and regulatory environment and the decision to step away from the bank deal, Noah has decided to pursue an external opportunity in the fintech space,” he added. Source