Banks

Hong Kong banks are preparing to offer Bitcoin and Ethereum ETFs, promising a significant shift in the financial landscape. Regulatory approvals and talent acquisition are pivotal before these ETFs can be listed. As the financial landscape evolves, Hong Kong banks are gearing up to introduce Bitcoin and Ethereum ETFs to their clientele. Although mainstream brokerage firms have commenced the distribution of cryptocurrency spot ETFs, banks are pending entry. This initiative aligns with the recent CNF update where Hong Kong’s Securities…

80% of Japanese banks partner with Ripple for blockchain payments. Ripple’s technology ensures faster, more cost-effective transactions. Japanese banks are implementing blockchain technology from Ripple with great success; 80% of them are working with the fintech startup to transform international payments. This action shows how far blockchain technology has come in the financial industry and is a significant step toward incorporating cryptocurrencies into traditional finance (TradFi). WOW! „Over 60 Japanese banks representing 80% of the Japanese banking industry have partnered…

Bitcoin, the enigmatic digital currency, is back in the spotlight as the US banking system grapples with mounting stress. While some predict a stratospheric rise to $1 million per coin, fueled by economic woes, others remain skeptical. Banking On Bitcoin’s Rise? Bitcoin advocates see it as a beacon of stability in a storm. Unlike traditional assets tied to the health of institutions, Bitcoin boasts a finite supply and decentralized nature. This, they argue, positions it perfectly to benefit from a…

The FDIC recently published its Quarterly Banking Profile for the first quarter of 2024, and its findings were shocking as regards the number of banks that are currently insolvent. In this kind of environment Bitcoin is a serious hedge against a potential banking collapse. FDIC’s problem bank list The FDIC (Federal Deposit Insurance Corporation) is a US government agency tasked with insuring bank deposits. It also examines and supervises the banks. It recently published its first Quarterly Banking Profile for…

The post US Banks Face $517 Billion in Unrealized Losses appeared first on Coinpedia Fintech News The latest Quarterly Banking Profile from the FDIC revealed that the US banking system has experienced an increase in unrealized losses, reaching $517 billion. This rise is primarily driven by higher mortgage rates impacting residential mortgage-backed securities. This quarter marks the ninth consecutive increase in losses since the Federal Reserve began its rate hikes in early 2022. Additionally, the number of lenders on the…

DTCC has announced a new pilot that leverages Chainlink’s technology with ten of the financial industry’s leading players, including JPMorgan and BNY Mellon. Dubbed Smart NAV, it delivers price and rate data on any decentralized ledger, expanding on DTCC’s existing mutual fund service, which serves hundreds of leading financial firms. America’s premier post-trade services company has announced a new pilot that leverages Chainlink technology to offer real-time financial data to hundreds of market participants. The Depository Trust and Clearing Corporation…

The Depository Trust and Clearing Corporation (DTCC) has partnered with blockchain oracle Chainlink and several prominent banking institutions in the United States to conduct a successful pilot aimed at accelerating the tokenization of funds.  The collaboration has not only paved the way for the adoption of blockchain technology in the traditional asset management sector but has also had a significant impact on the price of Chainlink’s native cryptocurrency, LINK, which has surged past the $14 threshold. Major Asset Managers Join…

The post Top Banks Embrace Bitcoin ETFs, Driving Trading Volume to New Heights appeared first on Coinpedia Fintech News Trading activity in Bitcoin ETFs just hit a new peak. According to Santiment, the seven largest ETFs collectively reached $5.65 billion in volume, the most active day since late March. This surge suggests a change away from the usual large-scale on-chain accumulations by whales. Major Banks Enter the Bitcoin ETF Market Three days ago, American banking giants JP Morgan and Wells…

XRP holdings by top banking firms have grown and have topped $200 million. The crypto is growing in a lot of ways including through the XRP Ledger and NFT integration. According to reports, XRP, the cryptocurrency associated with Ripple Labs Inc now stands out as a popular investment option. The Basel Committee on Banking Supervision (BCBS) revealed that 19 banks from various jurisdictions across the globe reported crypto exposures of $10.27 billion, with XRP among those taking the lead. This…