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. […]
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Hyperliquid price falls below $26 and enters oversold territory, but bearish structure remains intact, increasing the risk of a deeper correction toward lower support levels.
As long as HBAR remains below the $0.11 high-time-frame support, downside risk remains elevated. Continued weakness increases the probability of a move toward the $0.07 yearly low.
Ethereum price breaks below the $3,000 psychological level and the point of control, increasing the risk of capitulation as bearish structure and downside liquidity targets remain intact.
Bitcoin trades near $89,000 today after its 14-day relative strength index fell below 30 in mid-November, a threshold traders track for capitulation. A chart circulated by Global Macro Investor’s Julien Bittel, sourced to LSEG Datastream, overlays Bitcoin’s recent path with the average trajectory that followed the last five RSI breaks below 30 and traces a […]
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