Banks

The post Institutional Trading Platform ETFSwap (ETFS) Soars As Global Banks Are Urged To Accept Crypto  appeared first on Coinpedia Fintech News Cryptocurrencies have come a long way since their introduction into the financial landscape, as they have now gained legal recognition in many regions, with major institutional trading platforms such as ETFSwap (ETFS) seeing rapid adoption as a result.  With crypto adoption growing, global banks are being encouraged to accept crypto, as the industry can no longer be ignored.…

The post Global Central Banks Extend Crypto Regulation Deadline: The Real Reason Behind the Delay appeared first on Coinpedia Fintech News The Group of Central Bank Governors and Heads of Supervision (GHOS) has decided to extend the deadline for implementing its prudential standard regarding banks’ exposure to crypto-assets. Previously, it was expected to be enforced by January 2025. However, the new deadline is set for January 1, 2026. This adjustment results from the requirement for a cohesive global regulatory framework…

JP Morgan and Wells Fargo, two of the largest banks in the United States, have announced their investments into Spot Bitcoin ETFs, unveiling their exposure to BTC, the world’s largest cryptocurrency. This significant development comes amidst the persistent downturn in the crypto market, resulting in BTC’s price dipping slightly above $60,000.  US Financial Banks Expose Spot Bitcoin ETF Holdings American financial services companies, Wells Fargo and JP Morgan, have revealed their exposure to BTC by disclosing their adoption of Spot…

.A Republican-led effort to free American banks to provide crypto custody services has been shut down by the Democrat-led White House. On Wednesday, the House of Representatives discussed and prepared to vote on House Resolution 109 (H.J. Res. 109), which would strike down prior accounting guidance from regulators to banks planning to offer the service to customers. Hours before the vote began, however, the Biden Administration stated its intention to veto the resolution if it manages to pass through the…

The post Mastercard And Major US Banks Collab To Test Tokenized Asset Settlement appeared first on Coinpedia Fintech News Mastercard’s disruptive collab with leading US banks to trial shared ledger technology for settling tokenized assets aims to simulate transactions in dollars improving cross-border transaction efficiency and reducing the risk of error and fraud. The assets include commercial-bank money, Treasury securities, and investment-grade debt securities. The ledger technology will recast the financial landscape. Notable participants in the trial include Citigroup Inc.,…

VanEck discloses the growing adoption of Bitcoin with Banks, countries, and ETFs holding 15% of the asset’s circulating supply.  According to the report, these big players hold $175B worth of Bitcoins with ETFs alone having $75.4 billion of this amount.  US asset manager VanEck, in a comprehensive report meant to introduce its investors to Bitcoin, has delved into the significant evolution and the considerable adoption of the asset over the years. In the report, VanEck disclosed the growing institutional interest…

XRP holders are facing mixed signals. While the digital asset boasts nearly 20% in gains over the past year, significantly outperforming traditional savings accounts, its recent performance pales in comparison to other cryptocurrencies. After a substantial decline, the altcoin’s price has now entered a phase of sideways consolidation, making market players unsure of its future course. It appears like the cryptocurrency will likely stay stuck in a narrow range until there is a breakout in either way. XRP: Beating Savings…

Klaros Group’s report raises alarm about the financial stability of 282 US banks with a collective asset holding of $900 billion. Amid the cracks in the traditional financial system, there’s a growing interest in Bitcoin and cryptocurrencies, particularly among institutional investors. A recent report from consulting firm Klaros Group has raised concerns about the financial stability of 282 US banks, collectively holding $900 billion in assets. These banks are facing a precarious situation characterized by high exposure to commercial real…

The Federal Reserve Board of the United States recently surveyed 80 banks on their future financial and investment expectations. A majority of respondents displayed little interest in investing in distributed ledger technology (DLT) in the near term. Just a quarter of surveyed banks called DLT-related investment a “medium” or “high” priority within the next 2 years. Meanwhile, 22% called it “low priority,” while 33% said it was no priority at all. On a 2 to 5-year timeframe, the results were…