The Quontic bank, a financial institution based in New York City has rechristened itself as a crypto-friendly bank & provides financial services to another cryptocurrency startup. Steven Schnall, CEO of the bank, “We’re just taking steps so that when the regulatory environment becomes more crypto-friendly, we don’t have a lot of catching up to do. We’re looking to diversify our product offering and our customer mix by entering into that field.”
TradeWindow (a blockchain startup) has reportedly received investment & funding from New Zealand’s Auckland Saving Bank (ASB) for the launching of distributed ledger technology (DLT) trade platform. The Executive GM at ASB, Nigel Annet explained, “TradeWindow has the potential to truly transform the way our customers experience the international trade process.They will be able to operate more efficiently with trust and security across the globe.”
One of the oldest banks in South Korea, Shinhan Bank has shared its intention in implementing blockchain technology for stock lending. Shinhan Bank then unveiled a blockchain-powered platform for normal lending as an effort to reduce the cost and enhance the operational efficiencies throughout the lending process for the lenders and their organisation.
Germany-based Bitcoin (BTC) bank Bitwala announced that it received around $14.5 million in funding which was led by Sony Financial Ventures followed by NKB Group & Global Brain. Co-founder of Bitwala Jan Goslicki commented, “We started Bitwala to do something that nobody thought was possible: to connect Bitcoin and the conventional financial system while fulfilling the requirements of the strict German banking regulation.”
World just can’t turn its face from Bitcoin prices have mixed and integrated with geopolitics of the globe opiniones former exec of Major German bank, Deutsche Bank. Peter Tchir, a former Executive Director at Deutsche Bank, stated “Is that a sign that the Chinese elite know they headlines are more negative than the reality of the situation? It isn’t a clear enough signal, but for now, I think Bitcoin is hinting that there is no alarm in China, which is positive.”
The Swissx Bank of Cannabis (SBC) is has released the world’s first stablecoin pegged to the price of legal cannabis which was launched by Greece based billionaire, Alkiviades David in the same event the Swissx Global Hemp Exchange, the project’s trade forum to aid international expansion was also launched. David said,”…We’ve used Swiss financial know-how to create the first bank and cryptocurrency entirely optimized for the legal cannabis industry,”
One of the major banks in United States, Wells Fargo has joined the list of major financial institution which turned down on cryptocurrencies. In response to one of its users faced issues in using the bank to buy crypto the bank replied, Thanks for reaching out to us. Unfortunately, Wells Fargo does not allow transactions involving cryptocurrency. It appears that bank seems to echo views of its largest shareholder Chairman and CEO of Berkshire Hathaway, Warren Buffett.
Deutsche Bank (DB) is planning to layoff about 18,000 jobs and also plans to rein in its fixed-income business and retain a small-scale equity capital markets business. Anthony “Pomp” Pompliano, co-founder of Morgan Creek Digital Assets commented, “Deutsche Bank plans to fire almost 20,000 employees. Bitcoin has no employees to fire. DB is built for the old world. And Bitcoin is built for the new world.”
A British bank Kleinwort Hambros managed by Societe Generale (a financial major in Europe) have shared the launching of blockchain ETN. The bank representatives shared the new tools was added to the listing in Luxembourg with the aim in focusing on maximizing revenue as the increasing interest of the blockchain technology industry in the financial industry among the customers.
A XRPL Labs developer, Wietse Wind has suggested an interesting idea in promoting Ripple (XRP). The Single Euro Payment Area (SEPA) was proposed by Wietse Wind which will harmonize cashless payments and to make cross-border electronic payments inexpensive. A user tweeted, “Just imagine if you could SEPA using Ripple Tech to the exchange and buy in minutes instead of having to wait days. Don’t even get me started on weekends. Wietse needs to get a banking license so we can get a proper XRP derived bank.”