The Roadmap For Banks Adopting Bitcoin

The Roadmap For Banks Adopting Bitcoin
фото показано с : bitcoinmagazine.com

2021-10-28 02:00

U.S. banking regulators are exploring how traditional banks can hold bitcoin for various purposes.

The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

In a major announcement yesterday, news broke that U.S. banking regulators are exploring a roadmap for traditional banks to hold bitcoin so that the asset can be used for client trading, as collateral for lending or just to exist on banks’ balance sheets. Even under the guise of increasing regulation, this is clear evidence that traditional banks and their clients are demanding more use of bitcoin which will further accelerate the growing financialization of bitcoin.

"I think that we need to allow banks in this space, while appropriately managing and mitigating risk," FDIC chair Jelena McWilliams said. "If we don't bring this activity inside the banks, it is going to develop outside of the banks...The federal regulators won't be able to regulate it."

Outside of the traditional banking system, we’ve been seeing the increased level of demand for bitcoin-denominated loans and bitcoin as collateral for both trading and lending. One of the best places to see this action is in the rise of Genesis’s digital asset lending loan portfolio. As of their results in Q2, they have $8.3 billion in active loans outstanding with 42.3% of those loans denominated in bitcoin worth $3.5 billion.

Since the launch of their lending business in March 2018, cumulative loan originations have reached $66 billion indicating significant growth and demand for bitcoin loans.

Source: Genesis Q2 Quarterly Report Source: Genesis Q2 Quarterly Report

BlockFi is another company where we can track market demand and with BlockFi sharing internal numbers with Arcane Research in this special report, we can see the 50-times and seven-timex growth in their retail loan bitcoin collateral demand over the last two years denominated in USD and BTC respectively. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98468.21 (+0.14%)
Объем 24H $43.12b
Изменеия 24h: -0.32 %, 7d: 8.89 %
Cегодня L: $97633.19 - H: $98572.23
Капитализация $1948.351b Rank 1
Цена в час новости $ 58294.94 (68.91%)

bitcoin banks traditional hold various purposes regulators

Источник: bitcoinmagazine.com

bitcoin banks → Результатов: 126


Фото:

Korea’s ‘Big 4’ Bitcoin Exchanges Facing Strict AML Scrutiny from Banks

The latest news emerging from South Korea indicates that Bitcoin exchanges are facing a surprisingly increased level of scrutiny of commercial banks amid the renewal of banking services. The revelation comes as the intergovernmental Financial Action Task Force (FATF) continues to urge countries to enact stricter regulatory controls over the crypto industry.

2019-7-30 13:00


The Central Bank Of Myanmar Seeks To Shun Bitcoin as Crypto Adoption Grows at Rapid Pace

Myanmar, a small developing country tucked in the western side of Southern Asia is showing signs of ignoring the bitcoin craze that has been on since its development. Since bitcoin is built on a concept that could entirely do away with banks if adopted due to its decentralization aspect, central banks are a little terrified […]

2019-5-21 02:01


Bitcoin is 300 Times Cheaper Than Wire Transfers, Banks Take 83% Profit

Since 2017, so-called “experts” in the finance sector have criticized Bitcoin for being too expensive. Yet, banks are pocketing 83 percent profit on every wire transfer. According to Bank of America’s official data, the $302 billion bank charges $30 for outbound domestic wire transfer and $35 for outbound international wire sent in foreign currency.

2018-9-19 16:00


Citigroup, Morgan Stanley’s Roadmap Shows Institutional Demand For Bitcoin is Surging

Over the past week, Citigroup and Morgan Stanley have doubled down on their plans to offer tradable instruments and products around Bitcoin. Alistair Milne, the chief information officer at Altana Digital Currency Fund, stated that the increasing interest towards cryptocurrencies as an asset class by banks and regulated financial institutions is crucial, as it demonstrates.

2018-9-14 14:56


Korean Banks to Limit Services for Crypto Traders Without Real-Name Verification

South Korean banks are reportedly taking measures to limit services for customers who are not using the real-name system. It has been over seven months since the Korean government introduced the crypto real-name system, but only 40-50% of accounts at the country’s top four cryptocurrency exchanges have been converted into real-name ones, according to local […] The post Korean Banks to Limit Services for Crypto Traders Without Real-Name Verification appeared first on Bitcoin News.

2018-9-11 10:35


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru