Tag Archives: Banks

Huobi Opens First Russian Office in Partnership with State Bank’s Digital Tech Center

Singapore-based cryptocurrency exchange Huobi has officially launched its first branch in Russia on Thursday, Dec. 6, according to a press release shared with Cointelegraph today. The Moscow-based exchange, dubbed Huobi Russia, is established in partnership with the state-owned Russian Development Bank’s (VEB) Digital Transformation Center and supported by Huobi’s regional exchange partnership program, Huobi Cloud. The Center of… Read More »

Chilean Government Making Progress on Crypto Regulation, Says Finance Minister

Chile’s Minister of Finance Felipe Larrain claims that a group of state institutions “is making progress” in developing crypto regulation, local daily newspaper La Tercera reports Friday, Dec. 7. According to Larrain, the Ministry of Finance is working with Chile’s central bank and Financial Stability Board to provide a balanced legal framework for the crypto industry. He noted… Read More »

Crypto Project Says It Can Reverse Transactions and Recover Accounts Without Private Keys

A startup which bills itself as “blockchain’s financial district” has launched its network — and says its debut heralds “the beginning of true financial freedom.” WORBLI enables businesses and individuals to enjoy “seamless access to financial services,” and paves the way for developers to build their own applications on its network. Its ecosystem uses EOSIO software, with the… Read More »

Inside Chilean Power Battle: Crypto Exchanges vs. State Banks

On Monday, Dec. 4, the Chilean Supreme Court welcomed the decision of state-owned Banco del Estado to close the accounts of local cryptocurrency exchange Orionx. The new phase in the legal battle between the banks and several crypto exchanges — including Buda.com and CryptoMarket (CryptoMKT), which had appealed against the denial of services — may look somewhat sinister… Read More »

Four International Banks Complete Commercial Paper Transaction on R3’s Corda Platform

A group of international banks in partnership with enterprise blockchain software firm R3 have completed a live commercial paper transaction based on blockchain platform Corda, Finextra reported Dec. 6. The transaction was implemented on the Corda-based Euro Debt Solution application developed by R3, with German banking and financial services company Commerzbank, French corporate and investment bank Natixis, and… Read More »

Gazprombank Switzerland to Launch Crypto Services Next Year

Swiss bank Gazprombank recently partnered with fintech startup Avaloq and crypto firm Metaco to offer clients crypto services, an Avaloq press release reports Dec. 6. Fintech company Avaloq and crypto custody solution specialist Metaco are reportedly collaborating with Gazprombank –– which as CHF 3.1 billion ($3.12 billion) in total assets under management ––“to implement their integrated crypto asset… Read More »

4 Banks Complete €100K Commercial Paper Transaction on R3’s Corda

Four European banks – Commerzbank, ING, Natixis and Rabobank – have settled a live transaction for a short-term debt instrument on the Corda platform developed by blockchain consortium startup R3. According to a report from FinTech Futures on Thursday, the transaction involved an issuance of a one-day maturity euro commercial paper (ECP) worth €100,000 (or $1,13,432) at a… Read More »

Chile: Crypto Exchange Loses Ongoing Legal Battle in Supreme Court Ruling

The Chilean Supreme Court has ruled against crypto exchange Orionx, allowing a state-owned bank to close its account, local news outlet Emol reported Dec. 4. The third chamber of the high court has revoked the decision taken in July that had guaranteed protection to Orionx and forced local state-owned bank Banco del Estado to reopen its account. The… Read More »

Stablecoins The Way Ahead on “Blockchain Island” says Malta’s Prime Minister

Malta has come up as a new crypto hub by providing much-required banking support to cryptocurrency businesses. As bringing changes to the banking regulations were not possible due to the risk associated with cryptocurrencies, the Maltese Prime Minister mentioned stable coins as a way for crypto businesses on the island to move ahead. Won’t intervene in banking regulation… Read More »

Abu Dhabi Global Market Concludes First Phase of Blockchain-Based KYC Project

An international financial free zone within the capital of the United Arab Emirates (UAE) has concluded the first phase of its blockchain-based Know Your Customer (KYC) utility project, according to an ADGM press release Dec. 4. The Abu Dhabi Global Market’s (ADGM) regulatory body, the Financial Services Regulatory Authority (FSRA) along with “Big Four” audit firm KPMG have… Read More »