Banks May Drop Facebook Due to Regulatory Concerns

An ING executive has warned that banks may be forced to drop Facebook as a customer, if it persists with its plans to develop the Libra project. The executive is concerned that Facebook may continue its project without addressing the…

ECB Banker: Libra Could succeed where Central Banks have failed

Facebook’s Libra could potentially solve some of the problems that have plagued the international payments market for years now, but it might also create others if the regulators don’t get creative. This is according to a European Central banker who…

Ripple adds Dubai-based Bank to its Blockchain Network

Ripple partners with the National bank of Fujairah, in yet another stride towards the development of RippleNet’s Blockchain network. The national bank of Fujairah is a Dubai-based corporate bank that offers corporate and commercial banking services for conducting cross-border payments.…

Germany’s Largest Bank joins JPMorgan’s Blockchain Network

The largest bank in Germany Deutsche bank, has joined JPMorgan’s Blockchain-based network; the interbank information Network (INN) The JPMorgan Blockchain initiative was launched bank in 2017 as a pilot, and has since attracted 320 banks which have all signed up…

Binance set to Launch Dollar Backed Stable Coin

Binance is set to launch a dollar backed stable coin in the United States according to reports. The new Binance stable coin will be known as the Binance USD (BUSD) according to an announcement made by the exchange. The new…

IMF Head: We Should be Open to Cryptocurrencies

Outgoing IMF Head Christine Lagarde, believes financial institutions such as Central banks and other financial bodies should remain vigilant in protecting consumer interests while at the same time being open to innovations like cryptocurrencies. The outgoing International Monetary Fund (IMF)…

Germany Bank WEG Granted Crypto License in Estonia

German Bank WEG just obtained a crypto trading and custody license in Estonia that will see them handle crypto transactions The bank revealed this in a tweet on Aug 25 while also revealing its plans to secure a similar license…

Brazil Bank Adopts IMF Guidelines for Crypto Classification

The central bank of Brazil has moved to classify bought and sold crypto assets as per the laid out International Monetary Fund (IMF) guidelines. Brazil’s central bank announced its decision on Aug 26. Under the new IMF standards, traded cryptos…

Rwanda’s Central Bank Explores Possible Digital Currency Launch

The top bank in Rwanda is currently looking into the development and issuance of its own digital currency. In a move that has caught a lot of people by surprise, the National bank of Rwanda has gone full throttle in…

Bank of England Governor: Digital Currency could Replace Dollar

Bank of England governor Mark Carney has suggested that the American dollar could soon be replaced with a digital currency similar to Facebook’s Libra. While delivering his speech at the U.S Federal Reserve’s annual symposium in Jackson Hole, Wyoming, Carney…