Category: Banks

Turkey to Ban Cryptocurrency Usage as Payment Instruments From April 30

Turkey’s government has introduced a new regulation that will prohibit cryptocurrency assets from being used as payment methods as of April 30th, citing significant risks. Nevertheless, banks are excluded from the legislation, meaning that users can still deposit the Turkish Lira on crypto exchanges through their banking accounts. Turkey’s Ban on Crypto Usage as Payment […]

Continue Reading

Revolut Bank Announces Support for 11 New Cryptocurrencies

London-based challenger bank Revolut announced that it will expand support for more cryptocurrencies. In an official PR, the firm announced that 11 new tokens would be added to its exchange platform in another effort to satisfy its customers’ appetite for cryptocurrencies. You asked for new tokens, we’ve delivered. We’ve been tracking hot tokens and top […]

Continue Reading

America’s Second-Oldest Bank State Street to Enable Crypto Trading on its Platform

Shortly after the oldest US-based bank entered the cryptocurrency space, so has done the second-oldest – State Street Corporation. The banking giant with $3 trillion in assets under management will allow the London-based Puremarkets to use its Currenex platform for digital asset trading.  Launched by Puremarkets Ltd., Pure Digital is advertised as an “interbank marketplace […]

Continue Reading

JPMorgan Boss Says ‘Emerging Issues’ Like Cryptocurrencies ‘Need to Be Dealt With Quickly’

JPMorgan’s boss Jamie Dimon has a bone to pick with cryptocurrencies, shadow banking, and the financial technology (fintech) economy. In a letter to JPMorgan shareholders, Dimon explained that banks are “playing an increasingly smaller role in the financial system” and there’s a list of items like digital currencies he’s named that needs to be “dealt […]

Continue Reading

When mortgage? Big UK banks split on giving home loans to the crypto-rich

Quick Take Some of the United Kingdom’s biggest mortgage lenders do not allow proceeds from crypto investments to be used for deposits NatWest, Nationwide and Barclays are among those that will approve mortgages for crypto holders This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on […]

Continue Reading

Demand for Bitcoin Increases Despite Regulatory Restrictions: Goldman Sachs CEO

The existing regulatory framework around cryptocurrency restricts Goldman Sachs from implementing its projects covering digital currencies, said the bank’s CEO, David Solomon. He added that customer demand has skyrocketed in recent months, which is the reason behind GS’s proactive crypto approach. US Rules Bring Challenges for Institutions Engaging with BTC Founded in 1869, Goldman Sachs […]

Continue Reading

Banks Appetite for Bitcoin Increases as BTC Volatility Declines, JPMorgan Says

Large banking organizations and institutional investors could reinvigorate their demand for bitcoin soon, commented researchers from JP Morgan Chase & Co. They reasoned that BTC volatility levels have been decreasing in recent weeks, which could be the primary benefit for institutions. BTC’s Volatility Plays a Role for Institutions Analysts representing the giant US multinational investment […]

Continue Reading

BNY Mellon Refers to S2F Model and Gold Comparison to Determine Bitcoin’s Value

A few months after launching Bitcoin custodial services in the US, the nation’s oldest bank, BNY Mellon, has doubled-down on its interest and involvement with the first-ever cryptocurrency. It has published a report attempting to determine bitcoin’s value by comparing BTC with gold and referring to the popular stock-to-flow model. BNY Mellow Evaluates BTC It […]

Continue Reading