While U.S. dollar-backed stablecoins continue to dominate the conversation, recent discussions with investors indicate a growing focus on the tokenization of real world assets (RWAs), including stocks, bonds, bank deposits, and real estate, Bank of America (BAC) said in a report Monday. According to BofA, this shift marks the beginning of a multi-year journey toward … Read more
Wall Street banking giant JPMorgan (JPM) is teaming with crypto exchange Coinbase (COIN) to roll out a series of integrations aimed at making it easier for the bank’s 80 million customers to buy crypto. The partnership will allow JPMorgan customers to directly connect their bank accounts to Coinbase, redeem Ultimate Rewards points for USDC, and … Read more
PNC Bank (PNC) is partnering with Coinbase (COIN) to offer its institutional and banking clients access to cryptocurrency services, the companies said Tuesday. The collaboration will use Coinbase’s “Crypto-as-a-Service” infrastructure to let PNC clients buy, hold and sell digital assets securely. PNC will also provide banking services to Coinbase, deepening the operational ties between the … Read more
Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system, it has told Reuters. The move, which would be one of the most significant yet for the nascent CBDC ecosystem given … Read more
The finance sector around the world, at this point, is exploring the blockchain technology that logs permanent transaction records and reduces the dependencies on centralised and easily hackable Web2 servers. Germany’s third largest state-owned bank, Kreditanstalt fuer Wiederaufbau (KfW) has decided to join the global list of lenders that are experimenting with blockchain. In the … Read more
Microsoft has released an emergency update to Windows that fixes a privacy-threatening bug dubbed ‘aCropalypse’. This bug could potentially allow details that were cropped out of images by the Windows screenshot tool to be recovered by any user. The issue prevented information cropped out from screenshots from being removed from the source image, allowing it … Read more
Itau Unibanco, touted as the largest bank in Brazil, has decided to open crypto trading services for its massive userbase of over 60 million. This step from Itau Unibanco comes after the bank tried offering this functionality to a small bunch of select users to check if users were interested in accessing this service at … Read more
The crypto sector in India has once again criticised the lack of regulation related to cryptocurrencies in India. The industry has urged the Reserve Bank of India (RBI) to define the relations between crypto firms and traditional banks, as the latter have shown no inclination to engage with them in the absence of rules and … Read more
Bank of America (BofA) is preparing to enter the stablecoin market, CEO Brian Moynihan said Wednesday, adding that the bank has already laid the groundwork and expects to act when the time is right. “We feel both the industry and ourselves will have responses,” Moynihan said during the lender’s second quarter investor call. “We’ve done … Read more
Jamie Dimon, CEO of global banking giant JPMorgan (JPM), said the bank plans to get more involved in stablecoins, even as he questioned their practical utility compared to traditional payments. “We’re going to be involved in both JPMorgan Depositcoin and stablecoins to understand it, to be good at it,” Dimon said during the bank’s Tuesday … Read more