Category: Banks

NYCB and Group of Banks Join to Launch USDF Stablecoin

NYCB and Group of Banks Join to Launch USDF Stablecoin

A group of U.S.-based banks is launching their own stablecoin, USDF. The stablecoin will be issued by the USDF Consortium, which will allow its members (financial and banking institutions) to issue USDF. The proposed stablecoin will be the first currency of its kind to be minted by FDIC-insured institutions and compliant with the recommendations on […]

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Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate

Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate

Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may […]

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Spain Reduces ATM Numbers to 2002 Levels as Country Moves to Digital Payments

Spain Reduces ATM Numbers to 2002 Levels as Country Moves to Digital Payments

The number of ATMs in Spain has been progressively shrinking to levels the country saw in the year 2002. Reports from local media suggest these actions have been taken to reduce costs and to push payment and operation digitalization in the sector. The highest number of ATMs was registered in 2008 when there were 61,714 […]

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$87 Billion Italian Bank To Allow Bitcoin Purchases Early This Year

Banca Generali – an Italian Bank geared towards private banking and wealth management – plans to launch Bitcoin trading services in early 2022. These services will be enabled through an integration with Conio – a Bitcoin wallet/ exchange app. Bitcoin in Italy Financial magazine “We Wealth” provided details on the bank’s new services last month. […]

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Kickstarting the Bitcoin Network: A Look at the Genesis Block and Source Code That Sparked a Financial Revolution

Kickstarting the Bitcoin Network: A Look at the Genesis Block and Source Code That Sparked a Financial Revolution

13 years ago today, the anonymous creator of the Bitcoin protocol kickstarted the network by mining the genesis block. Satoshi started the genesis block on Saturday, January 3, 2009, at precisely 1: 15 p.m. (EST), and since then more than 700,000 blocks have been mined into existence. Kickstarting the Bitcoin Network Today, bitcoiners and cryptocurrency […]

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Israeli Central Bank Forces All Banks to Accept Profits from Cryptocurrency: Report

The Bank of Israel (BoI) has reportedly instructed local banks to accept profits from digital asset endeavors as long as the source of the money is not related to criminal affairs. The procedure is intended to complement the Money Laundering Prohibition Ordinance, which applies to crypto-related entities and their operations. Israeli Banks May no Longer […]

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Bakkt Holdings to Provide Cryptocurrency Services to Manasquan Bank Clients

New Jersey-based Manasquan Bank will participate in Bakkt Holdings’ early adopter program. When effective, it will enable customers of the financial institution to buy, sell, and hold cryptocurrencies. Bakkt Inks Another Partnership According to a recent press release, Bakkt’s project is anticipated to launch in Q2 2022. Initially, the platform will provide an entry point […]

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Mutual Bank in New Jersey to Give Customers the Ability to Buy, Sell and Hold Cryptocurrency

Mutual Bank in New Jersey to Give Customers the Ability to Buy, Sell and Hold Cryptocurrency

Manasquan Bank, a mutual community bank in New Jersey serving residents since 1874, has announced it is partnering with the company Bakkt to give its retail clients the ability to buy, sell and hold cryptocurrency through the bank’s mobile banking application. Manasquan Bank to Give Customers Access to Crypto A mutual community bank headquartered in […]

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Argentinian Chamber of Fintech Makes Cryptocurrency Regulation Proposal

Argentinian Chamber of Fintech Makes Cryptocurrency Regulation Proposal

The Argentinian Chamber of Fintech, a membership-based organization whose goal is to lead the digitization and modernization of the financial services industry, issued a series of recommendations for the upcoming regulation of virtual assets in the country. The proposed framework asks the government to follow FATF recommendations, and it calls for a clear definition of […]

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Thailand to Unveil Detailed Regulation for Cryptocurrencies Next Year

The Bank of Thailand (BoT) plans to suggest comprehensive legislation on the digital asset industry in January next year. The rules will aim to reduce the risks to the financial network and provide greater protection for investors. ‘Cryptocurrencies Cannot Be a Means of Payment’ During a recent interview for The Bangkok Post, Sethaput Suthiwartnarueput – […]

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