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.
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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.
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Robinhood reported a staggering 400% surge in crypto trading volume in the fourth quarter, reaching $70 billion, as retail investors flocked back to digital assets amid Bitcoin’s (BTC) rally past $100,000 and renewed enthusiasm for the broader crypto market.
CME Group reported record-breaking crypto trading volumes in the fourth quarter of 2024, reflecting a surge in institutional and retail interest in regulated digital asset derivatives. The derivatives exchange saw an average daily trading volume of approximately $10 billion in crypto futures and options during the final quarter of the year, more than 300% higher […]
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In the realm of cryptocurrency, smart money—by which we mean the wealthiest and most seasoned investors—exerts considerable influence over market trends and shapes our understanding of potential future price moves.
An investigation by Scam Sniffer has recently uncovered a cryptocurrency user scam that is way too sophisticated for its own good. It targets the basic details of well-known tokens and uses them to lure in victims with the promise of fake trading opportunities manipulated by the scammers.