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.
Bank of America (BoA) has received a patent for remote storage of private keys and, according to the official document, this development can be used to store cryptocurrencies.
Goldman Sachs is embroiled in the worst scandal in its history - a multibillion-dollar international fraud. Investigators link him to Malaysian Prime Minister Najib Razak, who spent the proceeds of the scam on luxury goods and an extravagant lifestyle.
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.
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