Japanese Megabanks to Launch Joint Stablecoin, Reports Nikkei
Japan's three largest banks by market capitalization are joining forces to issue stablecoins tied to fiat currencies such as the yen and the US dollar, according to Nikkei.The spread and regulation of cryptocurrencies and blockchain technology in the banking industry and fintech applications.
Japanese Megabanks to Launch Joint Stablecoin, Reports Nikkei
Japan's three largest banks by market capitalization are joining forces to issue stablecoins tied to fiat currencies such as the yen and the US dollar, according to Nikkei.
Chinese Bank Tokenizes $3.8 Billion Fund on BNB Chain
The Hong Kong branch of China Merchants Bank has tokenized a money market fund with assets worth $3.8 billion on the BNB Chain.
French Bank ODDO BHF to Launch Euro-Backed Stablecoin
Founded 175 years ago, the French bank ODDO BHF has announced the launch of the EUROD stablecoin, pegged to the euro, on the Polygon network.
Visa to Integrate Stablecoins into Visa Direct Platform
Visa will launch a pilot project for prepayments in stablecoins through its Visa Direct service. The initiative aims to expedite international transactions for businesses
Hong Kong to Ease Cryptocurrency Regulations for Banks
The Hong Kong Monetary Authority has announced plans to ease capital requirements for local banks holding cryptocurrencies.
US Banks Urged to Raise Deposit Rates to Compete with Stablecoins, Says Bitwise CIO
US banks should raise deposit rates to compete with the growing popularity of stablecoins, said Bitwise CIO Matt Hougan.
US Banks Surpass Crypto in Money Laundering Volume
From 2020 to 2024, US banks processed transactions amounting to $312 billion for Chinese money laundering networks. The majority of these funds flowed through the traditional financial system rather than cryptocurrencies.
VanEck CEO Labels Ethereum as ‘Wall Street’s Token’
Ethereum is poised to become the primary network for banks due to the increasing adoption of stablecoins, according to Jan van Eck, CEO of investment firm VanEck.
Citi Warns of Stablecoin Threat to Banks
The payment of interest on stablecoin deposits could trigger a mass exodus of deposits from banks, Citi warned.
Federal Reserve Ends Oversight of Banks’ Cryptocurrency Activities
The Board of Governors of the Federal Reserve announced the termination of its oversight program for new types of bank activities, including cryptocurrency operations. The regulator has completely rescinded its 2023 letter, which required financial institutions to obtain permission for stablecoin operations. It also mandated risk management practices concerning cybersecurity, liquidity, consumer compliance, and anti-illicit […]
Dormant means ownerless
In early August, some media outlets reported that a “revived investment bank, Salomon Brothers” intended to access bitcoin addresses it deems abandoned. The company used OP_RETURN, a standard mechanism for embedding arbitrary data in transactions. The initiative’s stated aim is to shield funds from criminals and “rogue states”, with the legal basis said to be […]We use cookies to improve the quality of our service.
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