Tag Archives: Banking

Russia’s Largest Banks Are Piloting Bitcoin and Crypto Portfolios

Two of Russia’s largest banks are piloting cryptocurrency portfolios for their private clients, the Kommersant newspaper reported Friday. Under the watch of the Bank of Russia, Sberbank and Alfa Bank will offer their clients shares in a special fund that will be trading the six most popular cryptocurrencies on major exchanges, including Kraken and Bitstamp, according to the… Read More »

Metropolitan Bank Is Handling Millions for Crypto Clients (And It Wants More)

To most banks in the U.S., cryptocurrency businesses are pariahs. To Metropolitan Commercial Bank, they’re “pioneers.” At least, that’s how the New York financial institution’s chief technology officer, Nick Rosenberg, describes them. “We’re certainly very interested in growing this vertical,” Rosenberg told CoinDesk of the bank’s crypto clientele. “We’ve learned that it’s a serious industry. There are some… Read More »

The ‘Central Bank for Central Banks’ Disses Cryptocurrencies in New Report

Advertisement Open Positions at CCN: Full Time and Part Time Journalists Wanted. The Bank for International Settlements (BIS), which serves central banks in their efforts to promote monetary and financial stability, claims permissionless cryptocurrencies are not suited to serve as the basis of a monetary system, although the bank acknowledges there are niche areas where cryptocurrency can provide… Read More »

Russian Treasurers Association Joins Masterchain Banking Pilot

The Russian Association of Corporate Treasurers is joining the nation’s central bank in trialing the government-run Masterchain blockchain platform, the group announced last week. The association is testing Masterchain to facilitate communications within the national banking system, according to the Masterchain white paper. This would mark the latest move to use the platform to replace the SWIFT inter-bank… Read More »

Bain Study: If Implemented Right, Blockchain Will Dramatically Reduce Costs For Banks

Blockchain technology has the potential to revolutionize transaction banking according to a study by major global management consultancy firm Bain & Company, Cointelegraph auf Deutsch reports today, June 14. According to Bain, “transaction banking revenues tend to be less volatile than other types of banking revenues, and bankers can cross-sell products, which is critical for client loyalty.” Bain… Read More »

Bitcoin Futures Could Spur Bank Ratings Downgrades

Advertisement Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! Rating agencies may downgrade banks that clear bitcoin futures if these financial products continue to see increasing volumes over the coming months. Financial publication Risk.net reports that each of the three large rating agencies — Standard and Poor’s, Moody’s, and Fitch… Read More »

Former FDIC Chair Urges Fed to Consider Issuing Central Bank Digital Currency

Advertisement Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! Sheila Bair, a former chair of the Federal Deposit and Insurance Corporation in the U.S., thinks the U.S. Federal Reserve Bank should seriously consider issuing a digital currency to reduce the risk of a financial crisis and improve monetary policy. Writing… Read More »

Korean Banks Can Use Blockchain to Verify Customer IDs from July

A national banking group in South Korea is to roll out a blockchain-based ID verification system for domestic commercial banks in just weeks. According to a notice revealed on Monday by the Korea Federation of Banks (KFB), the new system – dubbed BankSign – is scheduled to be launched in July following a testing phase that began in… Read More »

UK Financial Watchdog Tells Banks to ‘Enhance Scrutiny’ on Crypto Clients

Advertisement Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! The United Kingdom’s financial regulator and watchdog has urged bank CEOs to follow good practices to lessen the risk of financial crimes brought on by the abuse of cryptocurrencies. In a letter [PDF] addressed to domestic bank CEOs, the UK’s Financial… Read More »