Two of Russia’s largest banks are piloting cryptocurrency portfolios for their private clients, the Kommersant newspaper reported Friday.
Sberbank, the main state-owned bank responsible for processing government employee paychecks, and Alfa Bank, the largest private bank in the nation, plan to enter crypto trading with the help of the AddCapital investment fund, the National Settlement Depository and Group IB.
“Our goal is to speed-up the recognition of the digital assets as legitimate financial assets as soon as possible,” said Anton Rakhmanov, manager of Alfa Bank’s private banking branch.
The portfolio will include the six most popular cryptocurrencies, including bitcoin, bitcoin cash, ethereum and litecoin.
While testing the portfolio process will take roughly 45 days, the specific dates have not been disclosed.
Russias various financial institutions and banking entities dont always see eye-to-eye on the subject of cryptocurrencies. Sberbank, the nations largest bank, is one of the biggest proponents of the technology,...
The Japan Bank Consortium — a coalition of 61 banks in Japan, organized by SBI Ripple Asia — has announced the launch of a new Ripple pilot with Woori Bank and Shinhan Bank, two of South Korea’s largest banks with a collective market capitalization of more than $30 billion.
Two Russian largest banks will test the service of private banking for investors wishing to work with cryptocurrencies. The pilot will be launched in the regulatory sandbox of the Russian Central Bank.
There is substantial controversy surrounding Tether, a cryptocurrency that claims to be pegged to the U. S. dollar. According to Tether, each Tether token is backed by one U.
Don’t cry! Argentina gets the largest IMF bailout in history. Market creep? Mortgage rates move from 3% to almost 5%. European Central Bank exercises painful political persuasion with Italy. Can Bank of Japan’s unlimited liquidity float the whole world? Thanks for listening to this week’s McAlvany Weekly Commentary. Q1 hedge fund letters, conference, scoops etc, […]
San-Francisco-based bank Wells Fargo has declared that it will ban its customers from purchasing cryptocurrency using its credit cards, Fortune reported on June 11. The third largest bank by assets in the US, Wells Fargo said that its customers are now forbidden from purchasing digital currency on their credit cards issued by the financial institution. […]
The Reserve Bank of Zimbabwe (RBZ) have been in the news recently due to their move to ban cryptocurrencies within the country, in a similar to move made a few months earlier by The Reserve Bank of India.
Switzerland’s mortgage bank Hypothekarbank Lenzburg (Hypi) has announced that it will open business accounts for crypto companies. While cryptocurrency and blockchain technology have been widely accepted in Switzerland, the banks have not been as friendly.
Monero price remains in a blue-sky breakout after clearing the $670 Fibonacci extension, with strong momentum keeping the next upside target near $930 in focus.
PEPE price is holding the 21 EMA as support after a key flip, signaling early reversal conditions and increasing the probability of a bullish continuation if volume confirms the breakout.
Ethereum price is rejecting near $3,400 as daily bearish divergence forms and volume fades, increasing the probability of a corrective move toward $2,800 high-time-frame support.
Bitcoin price has broken above range-high resistance, but weak follow-through volume is raising failed auction risk and increasing the probability of rejection back toward range support.
Bitcoin (BTC) nearly touched $98,000 overnight before settling around $96,000, up roughly 5.5% over recent sessions. The rally reignited a familiar question: is this the setup for a sustained move above $100,000, or another fragile push built on thin order books and positioning games? Glassnode's latest analysis reveals a nuanced picture, where mechanical positioning drove […]
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Solana price is flashing bearish divergence at $146 range-high resistance, signaling weakening momentum and increasing the probability of a pullback toward lower range support levels.
