Crypto company collapses create a void in the ecosystem that trusted and experienced traditional finance firms may look to fill, the report said. Source
TradFi Remains the Counterparty of Choice for Institutional Crypto Investors: Bank of America
Tag: Bank
Tokenization of Real-World Assets a Key Driver of Digital Asset Adoption: Bank of America
The tokenized gold market reached over $1 billion in value last month, the report said. Source
Bank of Russia Analysts Note Ditching US Dollar Is ‘Hardly Possible’ Without Structural Changes to Foreign Trade – Economics Bitcoin News
A report from the research department of the Bank of Russia shows that, due to the structure of foreign trade contracts, it will be difficult to ditch the usage of the U.S. dollar to settle payments. The analysts found that contracts are often denominated in U.S. dollars and that most transactions are still concluded with providers from unfriendly countries. Bank of Russia Analysts Find Ditching U.S. Dollar Might Prove Difficult Analysts from the Bank of Russia have found that ditching the U.S. dollar for foreign trade settlements will not be…
Europeans to See More Interest Rate Hikes, Central Bank Governors Indicate – Finance Bitcoin News
Further rate hikes are warranted by persisting inflation in the eurozone, according to members of its monetary authority’s decision-making body. Two central bank governors, with different opinions about how aggressive the European Central Bank should be, nevertheless agree that more increases of key interest rates are yet to come. ECB Has Some Hikes Left to Make, Bank of France Chief Admits Although the European Central Bank (ECB) has done most of the work in terms of interest rate hikes, it still has a “little way to go,” Banque de France…
Former Deutsche Bank Investment Banker Charged With Crypto Fraud in US – Bitcoin News
An investment banker formerly employed by Deutsche Bank has been charged with perpetrating a crypto-related fraud. The man from Brooklyn has been accused of misappropriating funds from victims whom he promised large returns on cryptocurrency investments in a Ponzi-like scheme. Ex-Deutsche Bank Investment Banker Arrested and Charged for Defrauding Crypto Investors Rashawn Russell, a 27-year-old investment banker and registered broker from Brooklyn, New York, was arrested on April 10 on criminal charges related to his alleged role in running a crypto investment fraud scheme, the U.S. Department of Justice announced…
Rakuten Bank Set to Go Live after Floating Biggest Japanese IPO in 5 Years
Following the IPO, Rakuten Bank is billed to finally go public on the Tokyo Stock Exchange on April 21. Rakuten Bank, the financial services offshoot of the Japanese conglomerate Rakuten Group is set to go live following a successful float of its Initial Public Offering (IPO). According to a report from The Business Times, Rakuten Bank priced its IPO at 1400 Yen, a point that coincided with the upper range of its revised pricing. In the months and weeks leading to the IPO, Rakuten Bank set the IPO price at…
Swedish Central Bank Proposes Collaborative Model for e-Krona Retail Payments
Riksbank proposed the use of e-Krona for retail payments under different conditions while evaluating factors such as transparency, privacy, and governance. Earlier this week, the central bank of Sweden aka Riksbank released a report detailing the third phase of its central bank digital currency (CBDC) research. Swedish Riksbank has proposed a collaborative model for e-Krona retail as well as conditional payments. Back in 2020, Riksbank started its CBDC research in collaboration with the country’s existing private payment services. Furthermore, Riksbank stressed governance as a key parameter for collaboration. The central…
G7 to Discuss More Crypto Regulation and How to Help Developing Nations Introduce Central Bank Digital Currencies – Regulation Bitcoin News
The G7 countries are discussing more crypto regulation and ways to help developing nations introduce central bank digital currencies (CBDCs). “As a priority of this year, the G7 will consider how best to help developing countries introduce CBDC consistent with appropriate standards, including the G7 public policy principle for retail CBDC,” said Japan’s Vice Minister of Finance for International Affairs. G7 to Discuss Stronger Crypto Regulation The G7 countries will discuss tighter cryptocurrency regulation as well as explore ways to assist developing countries in introducing central bank digital currencies (CBDCs)…
Russian Central Bank Attributes Recent Ruble Depreciation to Lower Forex Sales by Exporters – Economics Bitcoin News
The Russian central bank has attributed the ruble’s latest plunge against the U.S. dollar to the temporary reduction “in sales of foreign currency earnings by exporters.” The central bank also revealed that the Chinese yuan accounted for 39% of the Russian forex market’s overall volumes. Temporary Reduction in Sale of Foreign Exchange The Russian central bank has said the ruble’s recent plunge to its lowest level versus the U.S. dollar in 2023 is due to lower forex sales by the country’s exporters. The comments by the central bank followed media…
Stablecoins Need to Be Regulated Like Commercial Bank Money, Bank of England's Andrew Bailey Says
The central bank governor also said regulators can’t rule out central bank digital currencies. Source