Pet Stablecoins: Why Some Banks Issue Their Own Digital Tokens, While Others Don’t

This week, a number of banks shed light on their respective crypto-related projects, following the recent expansion of JPMorgan Chase into the field. IBM was the big mover. A joint announcement by IBM and Stellar (XMR) said that as many as six global banks might issue their own stablecoins on IBM’s blockchain-powered payments network, dubbed…

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IBM partners to launch crypto custody solution targeting banks

IBM has been one of the biggest investors in blockchain and cryptocurrencies. And now, it’s getting into the crypto custody business. According to a report by CoinDesk, the tech giant will provide the infrastructure for a crypto custody solution by Shuttle Holdings, a New York-based investment firm. Shuttle already has a number of potential clients…

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Former Point72 Exec: Bitcoin is Still a Perfect Way to Bet Against Central Banks

Travis Kling has taken to the streets yet again. This time, the chief investment officer of Ikigai, a Los Angeles-based crypto hedge fund that launched in October, doubled-down on his sentiment that Bitcoin (BTC) is a perfect way to bet against the monetary policy enlisted by global governments and Wall Street mainstays. Bitcoin Hedge Against…

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Switzerland: Crypto Bank Seba Partners With Mortgage Bank Hypothekarbank

Switzerland-based crypto bank Seba Crypto AG has signed an agreement with Swiss mortgage bank Hypothekarbank Lenzburg AG to use its core banking system, Finstar, Cointelegraph auf Deutsch reports on Jan. 31. The partnership will allow for the implementation of Seba’s decentralized software into Finstar, as well as allowing Seba to use Finstar’s conventional services.  Additionally,…

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Twitter CEO Jack Dorsey Still Believes Bitcoin Will Be Internet’s Currency

Co-founder and CEO of Twitter Jack Dorsey declared again that he believes Bitcoin (BTC) will be the internet’s native currency. Dorsey made his comments during an interview with American comedian and podcast host Joe Rogan published on Feb. 2. During the interview, Dorsey stated: “[Bitcoin] was something that was born on the internet, that was…

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Bitcoin Obituaries 'Graveyard' – Pay Your Respects via Lightning Network

Bitcoin users can now fight the naysayers and expand their knowledge of the Lightning Network – by purchasing flowers to leave at the ‘Bitcoin Graveyard.’ Bitcoin Obituaries 2.0 A project from cryptocurrency education platform Niffler.co, the Graveyard takes a popular talking point, the Bitcoin obituary, one step further, providing an actual place of rest for…

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Deutsche Börse, HQLAx Report ‘Significant Progress’ on Blockchain Securities Lending Platform

Major global securities marketplace Deutsche Börse has reported it is “making significant progress” on its blockchain-based securities lending platform, according to an official press release on Jan. 29. The platform is being co-developed by the German securities marketplace and Luxembourg-based blockchain liquidity management platform, HQLAx. According to the press release from Deutsche Börse, six banks…

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Unconfirmed: Novogratz’s Galaxy Digital to Raise $250 Million to Offer Crypto Loans

Mike Novogratz’s crypto merchant bank Galaxy Digital is reportedly raising at least $250 million to offer loans to crypto-related firms, according to an unconfirmed report published by American news site Business Insider on Jan. 23. Citing two unnamed people familiar with the matter, the news outlet claims that Galaxy Digital is purportedly planning to close…

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Major Spanish Energy Company to Use Blockchain in Renewable Energy Tracking

Spain’s major energy company, Iberdrola, has started using blockchain to track renewable energy, Spanish independent news agency Europa Press reports on Monday, Jan. 14. The first trial was conducted in cooperation with Kutxabank, a local bank based in the Basque Autonomous Community that owns a substantial part of Iberdrola’s equity, and its subsidiary Cajasur. During…

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St. Louis Federal Reserve Report: Increased Supply of Altcoins Will Decrease BTC’s Value

The creation of competing altcoins is likely to place downward pressure on the prices of all cryptocurrencies, including Bitcoin (BTC). This conclusion was found by research conducted by the Federal Reserve Bank of St. Louis and published on Jan. 11. The report cites two perspectives: Bitcoin bulls’ belief that the capped supply and increased demand…

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What We Know About Yellow Vests’ Bank Run and How Crypto Could Help It

On Jan. 7, activists of the French grassroots political movement the Gilets Jaunes — Yellow Vests — announced a bank run via social media, essentially hoping to meet their goals by destabilizing the local financial system. Dubbed the “Collectors’ Referendum,” the movement’s latest demonstration calls on supporters to withdraw their savings from financial institutions on…

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Crypto Banks – The Need of the Hour

Cryptocurrencies are gaining popularity. The underlying technology, blockchain, is being used for various applications. One of the biggest potential applications will be in the banking sector. Banks are archaic and blockchain is ready to disrupt the mammoth sector with innovative solutions that bring efficiency and transparency in operations as well as providing features that a…

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Deutsche Bank Gets Raided After Calling Bitcoin a Risk for Criminal Activity

Deutsche Bank headquarters got raided this week as another bank that regularly criticizes Bitcoin is again suspected of money laundering. Deutsche Bank Haunted by Panama Papers As Bloomberg reported November 29, an investigation into two employees at the lender has even resulted in its Frankfurt headquarters being searched, with shares falling almost 5 percent. Deutsche…

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SWIFT to Experiment with Blockchain in India

SWIFT has signed a partnership with a fintech firm Monetago, through which it will experiment with blockchain applications in India, according to a press release. SWIFT India MonetaGo is a New York-based company which offers blockchain services to financial firms. It uses the technology to simplify information processes. It also has a Bitcoin exchange which…

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XRP is Bitcoin [BTC] 2.0, provides privacy for banks, says Ripple’s Chief Market Strategist

Bitcoin [BTC]’s scalability issues have now become a topic of discussion, with the debate from August 2017 about scaling the protocol becoming relevant again. The closest solution for scaling on the blockchain known as the Lightning Network is said to be ready only in 2020. This then creates an interesting situation for the most widely…

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Digital Bank Revolut Surpasses 3 Million Customers

U.K. startup Revolut has announced that its customer base has surpassed three million users. The fintech platform, which has quickly become a viable online alternative to traditional banking, was established in 2015. It currently offers payment and exchange services for a growing number of fiat currencies and cryptocurrencies. Also read: Huobi Opens in Russia, Plans…

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Ripple chief claims Central banks already have a digital asset-version of their fiat

At the ongoing financial event called the Singapore Fintech Festival 2018 [November 12-16], the CEO of Ripple, Brad Garlinghouse, and IMF Deputy General Counsel, Ross Leckow, presented their views on the digital currency market. The pair also answered a few questions drafted by the audience. Here, the Ripple official indulged in a slightly controversial remark on central…

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Japan’s Banking Giant MUFG Signs MoU to Develop Ripple-Based Remittances to Brazil

Japanese bank holding and financial services company Mitsubishi UFJ Financial Group, Inc. (MUFG) said it will use Ripple (XRP) to create a new cross-border payments service to Brazil in a press release Nov. 9. MUFG, which has demonstrated an increasing interest in cryptocurrency products, will partner with Brazil’s Banco Bradesco to create the platform through…

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And They Say Crypto is Criminal! Investors Sue 16 Big Banks Over Alleged Foreign Exchange Market Manipulation

Mega investing firms like BlackRock Inc and Allianz SE’s Pacific Investment Management Co. are suing 16 major financial establishments over allegations that the banks had rigged prices in the expanding foreign exchange market. According to Reuters, counsel representing BlackRock Inc, Allianz SE’s Pacific Investment Management Co, and several other prominent institutional investors filed the lawsuit last…

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HSBC, BNP Paribas, StanChart, Others Launch Hong Kong Blockchain Trade Finance Platform

A new blockchain trade finance platform developed by a dozen banks, among them HSBC, BNP Paribas, and Standard Chartered, launched this week in Hong Kong, Reuters reported Oct. 31. The platform, dubbed eTrade Connect, aims to improve efficiency in the financing of international trade by reducing the time needed to approve trade loan applications from…

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