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Major banks are often spewing anti-crypto rhetoric over its potential to be used for money laundering. So it is a little ironic when one of the world’s largest banks gets fined for not doing enough to prevent or detect it. $10 Million Fine For Morgan Stanley An article...
XRP, the cryptocurrency associated with Ripple and their xRapid settlement system, jumped nearly 14% overnight following a recent 20% jump that can be attributed to a variety of factors. The cryptocurrency is currently sitting at $0.369, up from its 24-hour price of just over $0.32. The continued rise...
Barclays and HSBC have allegedly blocked three accounts of a U.K.-based electric bike retailer for having traded Bitcoin for cash through a popular P2P trading platform hours earlier. The alarming situation comes five months after crypto exchange Coinbase opened a bank account with Barclays. Bank Account Closures Raise...
Financial institutions in India have only two more days to close off relationships with individuals and firms dealing in cryptocurrencies. The Reserve Bank of India (RBI) gave a three-month window for activities to cease back in April which ends on July 5. Crypto Users can Still Trade In...
A Ripple Executive has downplayed the cost-savings of blockchain technology over traditional banking arguing that growth is a stronger message for attracting business clients, including banks. Blockchain: Next Evolution of the Internet Danny Aranda, Managing Director of Strategic Growth at Ripple, discussed how the firm attracts banks to...
Adoption of the blockchain within the financial services industry is on an intense upward trajectory, according to the findings of management consulting company Greenwich Associates. They have found that the industry is spending about $1.7 billion per year on the technology. Banking Industry Spends $1.7 Billion Each Year...
Transaction banking faces continued pressure from disruptive solutions from blockchain and cryptocurrency ventures, which are taking a significant share of a once-upon-a-time undisputed market. While bleeding customers and transaction volumes, banks remain confident that its legacy technology is ‘good enough for now.’ Banking Industry in Denial While Losing...
BMV bank has revealed a partnership with Bitex to allow customers to make cross-border payments in Bitcoin. They aim to utilise Bitcoin as a low-fee cryptocurrency which can be transferred across borders and easily exchanged for fiat currencies. Bank Moves from SWIFT to Bitcoin BMV said in a...
CryptoMKT, one of only three cryptocurrency traders operating in Chile, was told late last week that state lender BancoEstado was closing its account within 10 days. The news comes after other commercial lenders Scotiabank and Itaú CorpBanca made similar account closure announcements and the country’s other banks declined to accept traders as clients. Santiago-based CryptoMKT —...
Uphold, which describes itself as a “cloud-based financial services platform,” has added the option to buy XRP, the cryptocurrency of the global payment network Ripple. This addition brings the number of coins supported by the platform to eight, the others being Bitcoin, Litecoin, Bitcoin Cash, Bitcoin Gold, Ether, Basic...
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