SBI Holdings, a Japanese financial services firm, is to lead an ongoing strategic fundraising round for Swiss digital asset bank Sygnum. Sygnum, which holds a Swiss banking license, said Tuesday it has secured an “eight-figure” U.S. dollar investment from SBI’s subsidiary, SBI Digital Asset Holdings, which will be used to help the firm grow its...Read More
Bitcoin has fully pared losses from Sunday’s dip as the leading cryptocurrency fell from around $48,600 to below $46,000 early Monday morning. As of 21:00 UTC (4 p.m. ET), bitcoin was trading above $48,600 on Coinbase. But the leading cryptocurrency still has yet to trade above the psychologically significant $50,000 mark. Much of bitcoin’s choppy...Read More
Thailand’s Securities and Exchange Commission (SEC) will conduct a public hearing this month to gauge what qualifications should be imposed on retail investors opening new cryptocurrency trading accounts. According to a report by the Bangkok Post on Sunday, the regulator is concerned for investor safety amid the recent meteoric rise in cryptocurrency prices and the...Read More
Dogecoin is not a cryptocurrency you would expect to read about much in this column since it is not exactly an “institutional grade” asset. It has a market cap of over $8 billion at time of writing (less than 1/100th of bitcoin’s), no unique use case and no lively derivatives market. But bear with me...Read More
A recap of a swath of news about corporate players coming into the crypto space, and why it could change the landscape of regulation. This episode is sponsored by Nexo.io. On this edition of the weekly recap, NLW breaks down the entrance of corporates into the crypto space this week, including: He also argues that...Read More
Deutsche Bank has joined the growing ranks of large financial institutions exploring cryptocurrency custody, with aspirations to offer high-touch services to hedge funds that invest in the asset class. The Deutsche Bank Digital Asset Custody prototype aims to develop “a fully integrated custody platform for institutional clients and their digital assets providing seamless connectivity to...Read More
Policymakers in India will provide a transition period if a proposed ban on cryptocurrency usage is passed as expected. According to a report by Bloomberg on Thursday, a senior Financial Ministry official – speaking under condition of anonymity – told Bloomberg cryptocurrency holders were likely to be given a three-to-six month period to close their...Read More
Cryptocurrencies used for illicit purposes are a “growing problem,” Treasury Secretary Janet Yellen said Wednesday. “I see the promise of these new technologies, but I also see the reality: cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism,” she said in her opening remarks. She...Read More
Mastercard is planning to give merchants the option to receive payments in cryptocurrency later this year. According to a source familiar with the matter, the functionality will see Mastercard customers’ digital currency payments settled in crypto at participating merchants, a first for the financial giant. The company has not yet disclosed which digital currencies it...Read More
Crypto market maker Apifiny is planning to go public by the end of 2021, the company announced Tuesday. Following in Coinbase and INX’s footsteps, San Francisco-based Apifiny plans use the funds raised through the listing to finance an aggressive expansion this year, “We think there’s more vertical ways to improve these products,” said Haohan Xu,...Read More
