BIS Permits Banks to Hold 2% of Their Reserves In Cryptocurrency.

A policy allowing banks to hold 2% of their reserves in cryptocurrencies was recently introduced by the BIS in its Prudential Treatment of Cryptoasset Exposure report for December 2022. Banks to Hold 1% Maximum The policy, which covers a number…

Japan Credit Bureau to Test CBDC for Payment Settlement

Japan Credit Bureau (JCB) has introduced its digital currency before Japan issues a CBDC.  CBDC Tested Using Current Payments Infrastructure According to JCB’s projection, the adoption of CBDCs may be constrained in the future if older people and small children…

MasterCard to bring Crypto Trading to Banks by partnering with Paxos

Top payment-processing corporation MasterCard has announced that it will bring crypto trading capabilities to banks through its new Crypto Source™ program. According to the MasterCard announcement,  the company is expanding its partnership with Paxos, the New York-based Fintech and blockchain…

BNY Mellon Offers New Crypto Asset Custody Platform

BNY Mellon, the world’s largest custodian bank, announced that it is now accepting select clients’ Bitcoin (BTC)and Ethereum (ETH) deposits.  The bank got approval from New York’s financial regulator to offer cryptocurrency custodial services this fall. BNY’s CEO of Asset…

SWIFT plans to use Chainlink for its global payment system

The Society for Worldwide Interbank Financial Telecommunication more commonly known as SWIFT is partnering with Chainlink to create a cross-chain interoperability protocol (CCIP) in an initial proof-of-concept.  SWIFT provides inter-bank messaging which is the backbone of the world’s financial system.  Chainlink on the…

Fidelity investment launches its first cryptocurrency initiative

  Fidelity investment, one of the largest asset and brokerages managers has finally launched its first cryptocurrency custody and trading platform. Initially, fidelity did not get involved directly with cryptocurrencies but rather preferred to partner with Coinbase, the largest exchange…

Walmart to Develop its Own Libra-like Cryptocurrency

A new patent filing suggests that one of America’s largest retailers Wal-Mart may be developing its own U.S dollar-backed digital currency which will be similar to Facebook’s Libra. The patent was filed by the U.S Patent and Trademark Office (USPTO)…

Crypto Exchanges in India Face Resistance from Banks

Over the past few years and most specifically with the CONID-19 pandemic cryptocurrencies have become an increasingly popular mode of investment and trading in India, where Indian youth have become more enthusiastic about it. As the younger generation is more…

Visa introduce new cryptocurrency plans as Mastercard allow merchants to accept payment in crypto

Recently, global credit card giants Visa and Matercard were making news in the crypto sphere by announcing their latest initiatives with crypto. Earlier in February Mastercard revealed their plans on crypto and in response to that Visa recently revealed their…

Goldman Sachs adds Bitcoin asset class after reasoning out ‘Bitcoin is not an asset class’ last year

Cryptocurrencies and the underlying blockchain technology are gaining high level of acceptance among more mainstream institutions and investors. As institutional investment on cryptos rise rapidly, significant pressure is building on Wall Street Banks to accept Bitcoin (BTC) as a legitimate asset class.…

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