Tag: Bank

Nigerian Agency Gets Nod to Freeze $330,000 in Crypto Users’ Bank Accounts

A Nigerian anti-corruption agency froze bank accounts (over $330,000) belonging to suspected cryptocurrency users on global platforms like Kucoin and Bybit. The agency believes these users manipulated the Nigerian currency (naira) through their trading activity. The exchanges are also accused of failing to adhere to anti-money laundering and terrorist financing regulations. Bank Account Holders Accused […] Source CryptoX Portal

Swiss Bank ZKB Partners With Crypto Finance to Launch Crypto Asset Brokerage

Zürcher Kantonalbank (ZKB), Switzerland’s largest cantonal bank, has partnered with Crypto Finance AG to offer crypto asset brokerage services. By partnering with Crypto Finance AG, ZKB gains access to an experienced and regulated partner with deep industry expertise in the crypto space. This partnership marks a significant step towards the broader acceptance of cryptocurrencies in […] Source CryptoX Portal

Switzerland’s Fourth-Biggest Bank ZKB Offers Retail Customers Bitcoin and Ether

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“When it comes to cryptocurrencies, Zürcher Kantonalbank takes on the critical function of securely storing the private keys. Customers and third-party banks therefore do not need their own wallet and therefore do not have to worry about storing their own private keys. Zürcher Kantonalbank takes care of both,” said Alexandra Scriba, head of institutional clients and Multinationals at Zürcher Kantonalbank, in a statement. Original

Switzerland’s fourth-largest bank ZKB launches crypto services

Zurich Cantonal Bank, Switzerland’s fourth-largest bank, has launched crypto trading and custody services, expanding its financial offerings. Zurich Cantonal Bank, Switzerland‘s fourth-largest bank, has officially entered the crypto market, offering its clients the ability to trade and store Bitcoin (BTC) and Ethereum (ETH). In a Sept. 4 press release, the bank said the new offering is integrated into its existing digital platforms, including ZKB eBanking and ZKB Mobile Banking. The bank has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse Group, to execute crypto trades, the press release…

Bank of Japan Governor Ueda Hints at More Rate Hikes; Bitcoin (BTC) Price Drops

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“The initial positive market reaction [to Fed’s impending rate cuts] is justified because investors believe that if money is cheaper, assets priced in fiat dollars of fixed supply should rise,”Arthur Hayes, a co-founder and former CEO of crypto exchange BitMEX and the chief investment officer at Maelstrom, wrote in a recent blog post. “I agree; however … we are forgetting that these future anticipated rate cuts by the Fed, BOE, and ECB reduce the interest rate differential between these currencies and the yen.” Original

Xapo Bank teams up with trading firm Hilbert Group to launch $200m Bitcoin fund

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Hilbert Group partners with Xapo Bank to launch a Bitcoin-denominated hedge fund with over $200 million in expected capital. Quantitative investment company Hilbert Group has announced a strategic partnership with crypto-friendly Xapo Bank to manage a new Bitcoin-denominated hedge fund. In an Aug. 27 press release, the Stockholm-headquartered company said that the fund, set to launch in September, is expected to attract over $200 million in initial capital from Xapo Bank and other investors throughout 2024. The idea behind the initiative is to provide corporates, businesses, and professional investors with…