Search Results for: Banking

Swiss Regulator Issues Banking Licenses to Two Blockchain Firms

The Financial Market Supervisory Authority (FINMA) in Switzerland has issued banking and securities dealers’ licenses to two new blockchain companies.       The news was announced by the FINMA and described the companies involved being “pure-play blockchain service providers.” The licenses will allow the two companies to offer services for institutional and professional customers.       The two crypto-based … Continue reading Swiss Regulator Issues Banking Licenses to Two Blockchain Firms

World First Crypto Bank Sygnum Receives Approval To Offer Banking Services In Singapore

In a report posted by the Sygnum official blog site on Oct. 31, it has been stated that the company has been granted approval by the Monetary Authority of Singapore (MAS) to operate digital markets services in the country which complemented their recent obtainment of banking and securities dealer license in Switzerland from the Swiss Financial … Continue reading World First Crypto Bank Sygnum Receives Approval To Offer Banking Services In Singapore

South Korea Intensifies Blockchain in Banking but Rules Out Digital Fiat Currency

Innovation has become decentralized globally, with several countries making significant progress while others have struggled with infrastructure and macroeconomic issues. Several factors like state-of-the-art infrastructure, corporate investment, favorable government’s incentives, and policies, and others affect a country’s perception. According to MERIC’s new survey, the US continues to dominate in the blockchain innovation landscape by 34%. … Continue reading South Korea Intensifies Blockchain in Banking but Rules Out Digital Fiat Currency

Why is Blockchain Technology Revolutionizing the Banking and Finance Market?

When blockchain technology was innovated a decade ago, it had high prospects of bringing significant revolution into the banking and finance markets, as we glance back at those budding days of blockchain technology and compare the results now. Indeed it has lived up to anticipations and even delivering more than what was expected.   Blockchain technology comes with … Continue reading Why is Blockchain Technology Revolutionizing the Banking and Finance Market?

A New Era of Smart Banking: Virtual Bank by Standard Chartered Building Digitally-Born Services

Hong Kong’s currency board and de facto central bank, Hong Kong Monetary Authority (HKMA), introduced the virtual banking license in 2017 for a “new era of smart banking.” Since then, there have been eight licenses granted, one of which includes SC Digital Solutions Limited, the Virtual Bank by Standard Chartered (official name to be revealed), … Continue reading A New Era of Smart Banking: Virtual Bank by Standard Chartered Building Digitally-Born Services

Basel Committee on Banking Supervision Seeks Advice on Designing Prudential Treatment for Crypto-assets

The Basel Committee on Banking Supervision published a paper going over the ‘design of prudential treatment for crypto-assets.’ on Dec.12. It covers several areas such as the risks rising from crypto-asset exposures, as crypto-assets are typically volatile and considered immature due to the lack of standardization and consistent product evolution, especially during periods of financial uncertainty. … Continue reading Basel Committee on Banking Supervision Seeks Advice on Designing Prudential Treatment for Crypto-assets

UK Fintech Firm Mode Launches Bitcoin Banking App Enhancing Mass Consumer Accessibility

Mode, a London-based fintech company, has launched its new Bitcoin banking app to make the leading cryptocurrency accessible to everybody at the touch of a button according to a Finextra report. The iOS app is available to users worldwide, except in the United States. The British firm stated that the app has been introduced to … Continue reading UK Fintech Firm Mode Launches Bitcoin Banking App Enhancing Mass Consumer Accessibility

Brazilian Banking Federation President Claims Crypto Cannot Replace Fiat Money

Murilo Portugal, the President of the Brazilian Banking Federation, has argued that cryptocurrencies like Bitcoin and Ethereum are not real currencies. Portugal was speaking at a debate associated with the impact of the digital revolution redefining financial sector.  The debate focused on disruptive technologies, how their deployment and use is affecting the traditional financial ecosystem. … Continue reading Brazilian Banking Federation President Claims Crypto Cannot Replace Fiat Money

Cardano Working With SA Blockchain Alliance to Free African Enterprise from Politically Entrenched Legacy Banking Systems

The Cardano Foundation has partnered with the South African National Blockchain Alliance (SANBA) in a bid to expand blockchain adoption and bring financial inclusion to the country of 59 million. According to an announcement by the Foundation on April 7, Cardano and SANBA, a fast-tracking blockchain initiative with government support, aim to promote socio-economic growth in South … Continue reading Cardano Working With SA Blockchain Alliance to Free African Enterprise from Politically Entrenched Legacy Banking Systems

Standard Chartered's Virtual Bank, Mox Will Usher in New Era of Banking for Hong Kong

Mox Bank Limited, or Mox, the new virtual bank in Hong Kong recently launched by Standard Chartered, has now been made available to select customers via invitation in an external pilot. The aim of the pilot is to prepare the state-of-art virtual bank for the public launch scheduled for later this year. According to the official … Continue reading Standard Chartered's Virtual Bank, Mox Will Usher in New Era of Banking for Hong Kong

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