Rabobank, a major Dutch bank with €681 bln under management, roughly equal to $838 bln, is looking into options for developing a cryptocurrency wallet within its online banking environment, according to a press release published Feb. 28. The idea of a digital wallet for the bank’s own cryptocurrency project “Rabobit”...
European leaders seem to have finally come to a consensus that the innovative technology underlying crypto-assets “has the potential to improve efficiency and inclusiveness of the financial system and economy more broadly,” as emphasized at the G20 summit in Argentina in March 2018. However, when it comes to regulation, the...
Dutch financial group ING (INGA.AS) has confirmed that Bitfinex, one of the world’s largest Bitcoin exchanges by daily trading volume, has a bank account with them in the Netherlands, Reuters reported Tuesday, Feb. 20. In an email to Reuters, ING spokesperson Harold Reusken confirmed that Bitfinex has a bank account...
The National Bank of Dubai (NBD), one of the largest banking groups in the Middle East by assets volume, has reportedly become the first bank in the region to successfully implement Blockchain technology in a check-issuance system to prevent fraud, local news outlet Arabian Business reported Saturday, April 21. According...
VPE WertpapierhandelsBank AG (VPE), a German securities trading bank, has partnered with Berlin-based technology company solarisBank to launch a cryptocurrency trading service for institutional investors, according to a VPE press release April 25. VPE is regulated by the Federal Financial Supervisory Authority (BaFin) and is purportedly the first bank in...
Canada’s central bank, Toronto Stock Exchange operator TMX Group, and non-profit organization Payments Canada, completed tests showing blockchain can be used for instantaneous securities settlements, Reuters reports today, May 11. The three companies concluded that blockchain, the technology originally developed for cryptocurrencies such as Bitcoin (BTC), is usable for automating...
In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation and cryptocurrency adoption by different sectors of the economy. If you would like to...
The People’s Bank of China (PBoC) will continue to apply strict measures on virtual currencies as part of its strategy for protecting and strengthening the yuan (RMB), according to a statement published March 29 on the bank’s website. At the 2018 national video conference dedicated to the achievements and major...
Finnish cryptocurrency exchange and crypto wallet services provider Prasos Oy is one step from being “frozen”, as most Finnish banks will no longer conduct business with them, Bloomberg reports March 9. Founded in 2012, Prasos has seen a ten-fold spike of transaction volumes reaching $185 mln in 2017, which became...
Seven of India’s largest banks have joined a Blockchain-powered trade finance initiative led by Indian IT giant InfoSys, a press release announced May 16. The collective, known as India Trade Connect, includes institutions such as Axis Bank, ICICI and South Indian Bank. It was reportedly formed to conduct testing of...