#Banking

Nov 13, 2020
9 min

Industries to be Disrupted by Blockchain

Technologies bring innovation and better opportunities across the globe by transforming the way how businesses work and because of which we listed out industries to be disrupted by Blockchain. Blockchain is one of the fastest-growing technologies in today’s digital world that have come into the limelight in the last few years. We have heard that blockchain technology has revolutionized finance, real estate, and many other sectors. However, not many of us are aware of what exa

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Crypto News Point

Jul 26, 2020
2 min

Avanti Announces Plans For ‘Stablecoin Disruptor’ Designed To Modernize U.S. Dollar Payments

Avanti Bank & Trust has announced plans for a ‘stablecoin disruptor’ that is designed to modernize U.S. dollar payments. According to a July 23 announcement, Avanti said that the payment instrument- ‘Avit,’ is not a security and predicted it “will likely be treated as a cash equivalent” by regulators. Top story: Avanti Financial Group Announces Accelerated Charter Application – Avanti https://t.co/ml61WOnYCi, see more https://t.co/BoHcMI7iIZ — José Antonio Bravo (@jabravo) J

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Copper Integrates Blockchain Payment Platform of Signature Bank For Fiat Settlements

Crypto News Point

Jul 22, 2020
2 min

Copper Integrates Blockchain Payment Platform of Signature Bank For Fiat Settlements

UK based cryptocurrency custody startup Copper has announced support for the United States dollar through the blockchain payment platform of Signature Bank. On July 20. an announcement stated that Signature Bank’s Signet integration will now allow customers of Copper’s to instantly pay and settle in US dollars and other supported fiat currencies. Delighted to announce the integration of Signature Bank services into our platform! The integration marks a pivotal step in our mis

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US Banking Regulators Invites Industry Players To Discuss On Fintech Virtually

Crypto News Point

Jul 7, 2020
1 min

US Banking Regulators Invites Industry Players To Discuss On Fintech Virtually

US Banking regulators, the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) are opening up virtual hours for industry players looking to discuss innovation and new technologies in banking. The new meetings will be capped at one hour in length, slated for just two days, July 29-30. Those interested need to register by July 17, as per an announcement on July 2 announcement. CFPB, OCC Host Virtual Innovation Office Hours https:/

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Italian Banking Association Supports European Central Bank Digital Currency Initiatives

Crypto News Point

Jun 24, 2020
2 min

Italian Banking Association Supports European Central Bank Digital Currency Initiatives

The Italian Banking Association (ABI) has revealed that it would be willing to support the implementation of a digital currency from the European Central Bank. On June 28 the ABI updated its website stating that the association had approved guidelines governing its position on digital currency and central bank digital currencies (CBDCs). The ABI, which represented a group of banks in Italy stated it was ready to “participate in projects and experiments regarding a digital cur

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Global Central Bank Think Tank OMFIF Debuts Digital Monetary Institute

Crypto News Point

May 24, 2020
2 min

Global Central Bank Think Tank OMFIF Debuts Digital Monetary Institute

The Official Monetary and Financial Institutions Forum (OMFIF), an independent global think tank for central banking and economic policy, announced the launch of its Digital Monetary Institute. The Institute intends to build bridges between digital currencies and traditional banking. It has a focus on payment instruments in wholesale and retail markets as well as on central bank digital currencies (CBDC). Since 2018, OMFIF has already been publishing in-depth reports on digit

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Ten31 Bank Partners With Anquan Capital To Explore DLT In Banking and Finance

Crypto News Point

May 18, 2020
2 min

Ten31 Bank Partners With Anquan Capital To Explore DLT In Banking and Finance

FinTech arm of Germany’s WEG Bank, Ten31 has partnered with Singaporean technology incubator, Anquan Capital. On May 15, a press release announced that the partnership will involve exploring blockchain applications within the context of banking and financial services. TEN31 Newstime We are very excited to announce today that Anqual Capital has become a partner and shareholder in TEN31 Bank. Anquan are the drivers behind @zilliqa, Anqlave and Aqilliz. TEN31 – Connecting yet

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World’s First Digital Asset Bank Sygnum Adds Ripple’s XRP Tokens On Its Banking Platform

Crypto News Point

May 1, 2020
2 min

World’s First Digital Asset Bank Sygnum Adds Ripple’s XRP Tokens On Its Banking Platform

Sygnum Bank, the world’s first digital asset bank announced that Ripple’s XRP tokens are now available through its banking services platform. On April 30 Sygnum Bank announced that users can access deposit, exchange, and credit services using the popular digital currency. The bank will now allow the third most capitalized digital token behind Bitcoin (BTC) and Ethereum (ETH) to be used by clients seeking to diversify their direct investments in digital tokens, in conjunction

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CipherTrace Launches Armada To Eliminate Risky Cryptocurrency Blind Spots For Banks

Crypto News Point

Apr 29, 2020
2 min

CipherTrace Launches Armada To Eliminate Risky Cryptocurrency Blind Spots For Banks

On April 28, CipherTrace launched Armada, a product designed to eliminate risky cryptocurrency blind spots for banks and financial institutions. Armada focuses on off-chain data instead of on-chain data while working in alongside with banks’ existing monitoring tools: “To identify transactions with virtual asset service providers (VASPs), including those with weak KYC or operating as unregistered money service businesses (MSBs).” CipherTrace Unveils Compliance Tool for #Banks

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Japan’s SMFG and SBI Holdings To Partner For Digital Banking Services On Smartphones

Crypto News Point

Apr 28, 2020
1 min

Japan’s SMFG and SBI Holdings To Partner For Digital Banking Services On Smartphones

Sumitomo Mitsui Financial Group (SMFG), the second-largest bank in Japan will sign a deal with SBI Holdings to offer digital banking services available on smartphones according to an April 27 article. SMFG will acquire a 20% stake in SBI subsidiary NeoMobile Securities, holdings worth several billion yen by June. By the end of the year, SBI will accept an investment from SMFG to create a new $1 billion fund to invest in companies involved in digital technology in the areas of

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Crypto News Point

Mar 26, 2020
6 min

Blockchain Revolution In Banking

Blockchain revolution in the banking industry could allow for cheaper share trading and quicker settlement providing confidence to various participants in times of stress, as blockchain allows participants in a network to agree that each transaction has taken place and to keep a data of all transactions instead of leaving the record-keeping at one central place and how it’s done? Because The blockchain is an incorruptible digital ledger of economic transactions that can be pr

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Some Of The Indian Banks Are Not Complying With Supreme Court’s Ruling

Crypto News Point

Mar 16, 2020
2 min

Some Of The Indian Banks Are Not Complying With Supreme Court’s Ruling

Earlier this month, India’s Supreme Court delivered its verdict in a landmark case that promised to usher in a bullish era for cryptocurrency in the country. The Court ruled to overturn a circular from the Reserve Bank of India (RBI) issued back in April 2018 which had banned banks’ services to all crypto-related firms. Not all banks, however, appear to be complying with the ruling. On March 12, fintech lawyer Mohammed Danish filed a representation with the central bank again

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Blockchain Technology In Banking & Finance: Boon Or Bane?

Crypto News Point

Jan 24, 2020
4 min

Blockchain Technology In Banking & Finance: Boon Or Bane?

Blockchain technology in banking and finance is transforming the dynamics of payment systems from tracking transaction history to the whole process of how money is being transferred. The question lies here can the traditional financial sector embrace the revolutionizing technology or be replaced by it? Blockchain technology is already disrupting the currency market while the banking sector is starting to get the heat of it. The technology behind blockchain features trustlessn

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Developed Countries Have Little Need for CBDCs, Says Bank of Korea Official

Crypto News Point

Nov 2, 2019
2 min

Developed Countries Have Little Need for CBDCs, Says Bank of Korea Official

The Bank of Korea has again poured cold water on the idea of adopting a central bank digital currency (CBDC), according to remarks made by an official of the central bank. Little Need for CBDC in Developed Countries Hong Kyung-sik, Director of financial settlement at the central bank, argued that in Korea, there is a very little need for a central bank digital currency (CBDC). “In Korea, we already have advanced payment and settlement infrastructure. In addition, the degree o

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