The coronavirus outbreak has led to postponed work at various Chinese government institutions, including the organs responsible for researching and developing the digital yuan
Category: Banks
Caitlin Long Doesn’t Trust Trust Companies
Caitlin Long (in a Cointelegraph exclusive) explains why trust companies as custodians are not sufficient for institutional investors
Ukraine’s Central Bank: E-Hryvnia Threatens Landscape of Banking System
The National Bank of Ukraine is still trying to balance the potential threats and benefits of a central bank digital currency
Crypto-Friendly Banking App Now One of Europe’s Most Valuable Fintechs
Crypto-supporting neobank Revolut is now valued at $5.5 billion, tied with Sweden’s Klarna for first place as Europe’s most valuable fintech
China Adopts Security Standards for Blockchain Applications in the Financial Sector
Keeping the focus on blockchain development, banking authorities in China have issued a set of rules pertaining to the secure application of crypto-related technologies in the financial sphere. The new standards, the first of this kind, are to guide the work of developers and service providers operating in the industry. Also read: China Issues Digital […]
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Caitlin Long Starts the First Crypto-Native Bank in the U.S.
Caitlin Long is setting up a first crypto-native bank in the US that will offer crypto services to institutional investors
Wells Fargo Fined $3 Billion for 15 Years of Illegal Practices Affecting Millions of Customers
Wells Fargo, one of the largest U.S. financial services companies, has agreed to pay $3 billion to resolve the U.S. government’s investigations into fraudulent sales practices spanning over 15 years. The Wells Fargo fraud case involved the company forging customer signatures, moving money from millions of customer accounts to unauthorized accounts, and misusing customers’ sensitive […]
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JP Morgan: Digital Money Foundation Laid, Blockchain In Banking Years Away
JP Morgan suggests that blockchain laid the foundations for digital money, but the role of cryptocurrencies is still limited
Major HSBC Layoffs: 35,000 Job Cuts and Massive Restructuring Announced
Banking giant HSBC has unveiled a major restructuring plan that includes 35,000 job cuts. The move came as the bank’s net profit plunged 53% last year. HSBC is also slashing $100 billion in assets and closing many branches. “This represents one of the deepest restructuring and simplification programs in the bank’s history,” explained interim CEO […]
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In Response to Bitcoin, Central Bank of Brazil Presents Instant Payment System Pix
Banco Central do Brasil has started testing a new payment network with the promise to offer Brazilians near instant transactions and many new services. Portrayed as a response to Bitcoin, the Pix system will be mandatory for major financial institutions to ensure wide coverage. The project aims to limit the use of paper money and […]
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