Tag: Digital

Deutsche Bank awaits regulatory approval to offer digital asset custody services

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied According to a BNN Bloomberg report, Deutsche Bank — a leading global financial institution — has recently submitted an application to the German securities regulator, Bafin, seeking approval to provide custody services for digital assets, including cryptocurrencies. The move is part of the bank’s broader strategy to diversify its revenue streams and enhance its corporate banking unit’s fee income. David Lynne, the head of Deutsche Bank’s commercial banking unit, confirmed the application during a recent conference.…

Deutsche Bank reportedly applies for digital asset custody license from BaFin

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Germany’s largest banking institution, Deutsche Bank, has reportedly applied for a digital asset custody license to the country’s financial regulator, the Federal Financial Supervisory Authority, or BaFin, in a bid to expand its revenue streams, Bloomberg reported. This comes after a similar shift from the bank’s investment arm, DWS Group, and aims to expand on digital asset custody services, including cryptocurrencies. DWS Group had previously indicated an interest in investing in two German crypto firms. Companies negotiating with DWS Group included Deutsche Digital Assets, a crypto exchange-traded products provider, and market maker…

Cyber heists in digital playground, school-age hackers steal millions in NFTs

The world of NFTs has fallen prey to an unexpected wave of school-age cyber bandits, orchestrating intricate phishing scams that have netted them millions in stolen assets. The digital finance platform Orbiter Finance was victimized last month when a false journalist impersonating an employee of a cryptocurrency news outlet deceived a Discord moderator. This ruse allowed the false journalist to gain control of the Discord server, limiting administrators’ abilities and preventing community members from messaging. The infiltrator used this control to promote a fictitious airdrop event, directing users to a…

Fear of a digital euro prompts Slovakia to add cash rule to constitution

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Slovakia will codify the right to use cash as a method of payment after a vote to amend the nation’s constitution passed in parliament on June 15.  The new legislation was sponsored by the Sme Rodina party, also known as the “We Are Family” party, and was reportedly drafted as a precautionary measure against the proposed digital euro. Per a report from European news agency Euractiv, legislator Miloš Svrček, one of the legislation’s co-authors, told members of parliament during a debate that the amendment was necessary to protect Slovakia’s financial…

Bank of England’s Project Rosalind results out, digital pound plans in progress

The Bank of England (BOE) has made progress towards launching its digital currency after conducting a year-long investigation that highlighted the numerous opportunities presented by digital currency technology. BoE, digital pound, and Project Rosalind In collaboration with the Bank for International Settlements (BIS), the BoE initiated Project Rosalind to explore the potential advantages and feasibility of a central bank digital currency (CBDC).  On June 16, the BIS unveiled the first part of the trial’s findings, indicating that a CBDC could facilitate faster individual payments, enable businesses to develop innovative financial…

Will Allowing Users to Earn Digital Assets Drive Wider Cryptocurrency Adoption?

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Cryptocurrencies have received a lot of interest in recent years because they provide a decentralized and digital form of money. However, widespread acceptance continues to be a struggle. Allowing consumers to earn digital assets is one potential method for increasing cryptocurrency adoption. In this article, we will look at how to earn digital assets and how it affects bitcoin acceptance. We will examine whether allowing users to earn digital assets may expedite the general acceptance of cryptocurrencies, from the benefits for individuals to the ramifications for businesses and the wider…

Leaked Digital Euro Bill Supports Offline Usability, Shuns Interests

The potential issuance of fiat currency in digital form has garnered global attention, with various jurisdictions exploring the concept. The EU, the US, and the UK are among those actively considering the implementation of a CBDC.  A leaked draft of the proposed Digital Euro Bill, set to be proposed by the European Commission on June 28, reveals several significant provisions that aim to shape the future of the Central Bank Digital Currency (CBDC). The draft bill, seen by CoinDesk, highlights key elements such as the ban on interest and surcharges,…