In our “Banks” section, we cover how traditional banks interact with cryptocurrencies, digital assets, and modern financial technologies. Here you will find news about banking regulations, crypto-friendly banks, and financial institutions adopting blockchain solutions. Read the “Banks” section on ForkNews to stay informed about the evolving relationship between banks and the crypto industry.
From time immemorial, quiet Switzerland has been associated with the world’s most delicious chocolate, quality watches and, of course, developed banking. But it looks like this list can now be replenished with the country’s incredibly successful breakthrough in the crypto industry over the past 3 years. And there is an absolutely logical explanation for this order of things. This is the canton of Zug or the so-called Crypto Valley.
Noble Bank, which makes most of its revenue from servicing Tether, said it has no cash. While Tether traders are unsuccessfully trying to get rid of large amounts of coins, the bank is frantically looking for funding. Recently, Noble Bank approached one of the major stablecoin holders with a request for a loan, but was refused.
According to Reuters, Swiss startup SEBA Crypto AG has raised 100 million francs ($103 million) to create a bank offering cryptocurrency services.
The Russian branch of Raiffeisen Bank issued the first electronic mortgage using a decentralized depository system (DDS) on the MasterChane blockchain platform. An electronic document containing all information about the parties to the transaction was posted through DDS.
JPMorgan, the largest financial institution in the United States, has launched a pilot program for a blockchain-based payment system. Royal Bank of Canada (RBC) and Australian Bank (ANZ) have also joined the program. According to the Financial Times, 75 more banks have now joined the experiment.
American investment bank Morgan Stanley plans to offer clients a new way to invest in bitcoin without buying it. That is, clients will be able to enter into contracts for the exchange of interest payments in respect of bitcoin without actually owning the cryptocurrency itself.
It has been more than seven months since the South Korean government introduced the need to verify a real name to use a crypto exchange. Investors who have linked their accounts to a real name can deposit Korean won into their accounts, while those who have not done so can only withdraw them.
On Wednesday, reports appeared on the Internet about a change in priorities for Goldman Sachs, which decided to abandon the launch of trading in cryptocurrencies and their derivatives. Such news led to a reduction in trading volume and a fall in the price of Bitcoin.
If you have any questions about collaboration or interesting new proposals, please contact us at [email protected]
The ForkNews news portal is the ideal advertising platform for anyone involved in cryptocurrency. For advertising and PR inquiries, please contact us at [email protected]
Join us!
