In a recent announcement, Chase, one of the prominent banks in the United Kingdom, disclosed its decision to enforce stricter regulations regarding cryptocurrency transactions. This move comes as a response to the surge in fraudulent activities and scams associated with…
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Hong Kong Widens Testing of China’s Digital Yuan to Additional Banks
In the era of rapid digitalization, financial landscapes around the world are evolving at a pace never seen before. One of the most intriguing developments in recent times is China’s exploration of its digital currency, the Digital Yuan, commonly known…
Visa to Send Stablecoin USDC over Solana to Help Pay Merchants in Crypto
As Visa aimed to expand its potential to more clients, there was an urgent need to utilize newer, high-performance blockchains that could send and receive stablecoins at a faster rate and at a lower cost. For these reasons, Visa supported…
US Lawmaker Opposes CBDC Tracking Purchases Like China’s Digital Yuan
Introduction In recent years, the global financial landscape has witnessed a significant shift towards digital currencies. As cryptocurrencies like Bitcoin gain popularity, governments and central banks worldwide are exploring the possibility of introducing their own digital currencies. One such development…
SEBA Bank Granted Approval-in-Principle for Crypto Services in Hong Kong
Intoduction In the ever-evolving world of cryptocurrencies and blockchain technology, Swiss-based Seba Bank has achieved a significant milestone. On August 30, 2023, the bank received approval in principle from the Hong Kong authorities to offer crypto services within the region.…
Blaming Crypto for Bank’s Epic Failure Questioned by U.S. Senator
On May 16, the Senate held a hearing to examine the recent bank failures that rocked the United States financial system. One of the witnesses is Scott Shay, the former chairman, and co-founder of Signature Bank. Senator Cynthia Lummis, a…
Hong Kong to Be the Next Crypto Nexus
Hong Kong, a former Crown Colony, is fast becoming a haven for crypto companies. A statement written by Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA), discussed how to handle virtual asset-related entities. He reminded banks…
Swiss Bank PostFinance Embraces Crypto with Sygnum Partnership: A Bold Leap Forward
Switzerland’s PostFinance has announced its plans to launch cryptocurrency trading and storage services for its customers, partnering with local cryptocurrency bank Sygnum. This partnership allows PostFinance customers to buy, store, and sell major cryptocurrencies like Bitcoin and Ether through Sygnum’s…
China’s State-Owned Banks Offer Support to Hong Kong’s Crypto Industry
Banking Hurdles for Crypto Firms Banking for crypto businesses has been difficult due to the anonymous nature of digital assets, which raises red flags for traditional banks that prioritize know-your-client (KYC) procedures. It typically takes three months for crypto-focused companies…
Xapo Bank Makes History: Becoming the First Bank to Fully Integrate with USDC Stablecoin
Xapo Bank has achieved a groundbreaking milestone by becoming the first bank to fully integrate with the USDC stablecoin. This pioneering integration aims to provide users with greater flexibility, ease of use, and access to a wide range of financial…
