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Banking

In Basel, Switzerland, regulators are hoping to decide how banks can interact with crypto such as bitcoin (trabantos/Getty Images)
Policy
Regulations
Banks’ Bitcoin Holdings Should Be Capped, Basel Committee Proposes
Holdings of unbacked crypto like bitcoin and algorithmic stablecoins would be limited to 1% of a lender’s capital under the standard setter's new plans put out for consultatio...
In Basel, Switzerland, regulators are hoping to decide how banks can interact with crypto such as bitcoin (trabantos/Getty Images)
By Jack Schickler
Jun 30, 2022 at 10:56 a.m. UTC
Jun 30, 2022
RegulationsBISBank for International SettlementsBankingBanking RegulationBitcoin
Bermuda. (Getty Images)
Finance
Crypto
Jewel Bank Approved as Bermuda's First Digital Asset Bank as Premier Burt Readies to Take Nation Into Stablecoins
The Bermuda Monetary Authority (BMA) issued full-bank and digital asset business licenses to Jewel, which plans to issue a USD stablecoin and other single fiat currencies.
Bermuda. (Getty Images)
By Elizabeth Napolitano
Jun 7, 2022 at 12:00 p.m. UTC
Jun 7, 2022
CryptoBankingBermuda
Basel, Switzerland, home to the Basil Committee on Banking Supervision (Alexander Pyatenko/Getty Images)
Policy
Regulations
Crypto Banking Rules Now Due This Year From Basel Committee
The group cited recent turmoil in pushing ahead with its plans, which previously saw opposition from major lenders like JPMorgan Chase.
Basel, Switzerland, home to the Basil Committee on Banking Supervision (Alexander Pyatenko/Getty Images)
By Jack Schickler
May 31, 2022 at 3:30 p.m. UTC
May 31, 2022
RegulationsBanking RegulationBanking
Bangkok, Thailand (Noom HH/Getty Images)
Finance
Institutional defi
Siam Commercial Bank Is Chasing DeFi Yield Through Compound
The bank’s venture arm, SCB 10X, is using Compound Treasury’s 4% yield service via the Fireblocks custody platform.
Bangkok, Thailand (Noom HH/Getty Images)
By Ian Allison
May 27, 2022 at 6:02 p.m. UTC
May 27, 2022
Institutional DeFiBankingDeFiThailandCompound
Elwood CEO James Stickland (Elwood)
Finance
Barclays
Elwood Technologies Touts Strong Focus on Crypto Derivatives
Now backed by tier one banks Goldman, Barclays and Commerzbank, Elwood CEO James Stickland predicts “a huge amount of derivatives action.”
Elwood CEO James Stickland (Elwood)
By Ian Allison
May 17, 2022 at 6:55 p.m. UTC
May 17, 2022
BarclaysBankingDerivatives
London-based BVNK has raised $40M in Series A funding to drive its regulatory push. (Shutterstock)
Finance
Funding rounds
Crypto Banking Platform BVNK Raises $40M to Drive Regulatory Push
BVNK currently processes $2 billion in annualized payments, which it aims to grow to serve cross-border businesses with fast payments and banking in crypto and fiat.
London-based BVNK has raised $40M in Series A funding to drive its regulatory push. (Shutterstock)
By Jamie Crawley
May 12, 2022 at 9:41 a.m. UTC
May 12, 2022
Funding RoundsBanking
Buenos Aires, Argentina (Sadie Teper/Unsplash)
Finance
Argentina
Argentina’s Largest Private Bank Launches Crypto Trading Feature
Banco Galicia now allows users to buy bitcoin, ether, USDC and XRP.
Buenos Aires, Argentina (Sadie Teper/Unsplash)
By Andrés Engler
May 2, 2022 at 4:54 p.m. UTC
May 2, 2022
ArgentinaBankingTrading Platform
(Kevin Ross/CoinDesk)
Consensus Magazine (layer2)
Payments-week-22
Introducing CoinDesk's Payments Week
Can crypto fulfill its original promise? From Bitcoin’s Lightning Network to stablecoins to gaming and rewards, innovations give hope for the payments use case.
(Kevin Ross/CoinDesk)
By Ben Schiller
Apr 25, 2022 at 2:33 p.m. UTC
Apr 25, 2022
payments-week-22cryptocurrency paymentsBankingBitcoinStablecoins
“We would usually advise our clients to steer clear of a lot of these things," says one consultant. "Whether it's financial, reputational or regulatory [risk], who needs this headache?” (Illustration: Yunha Lee/CoinDesk)
Consensus Magazine (layer2)
Payments-week-22
Why Banks and Payment Processors Shun Perfectly Legal Businesses
Porn, gambling and even furniture sales are deemed “high-risk” merchant categories. Sometimes the risk is financial; other times it’s just bad publicity.
“We would usually advise our clients to steer clear of a lot of these things," says one consultant. "Whether it's financial, reputational or regulatory [risk], who needs this headache?” (Illustration: Yunha Lee/CoinDesk)
By Rob Garver
Apr 25, 2022 at 11:37 a.m. UTC
Apr 25, 2022
payments-week-22cryptocurrency paymentsBanking
(TK Kurikawa/Shutterstock)
Finance
Banking
Morgan Stanley Says Wholesale Banks Can Thrive in a More Regulated Crypto Market
The revenue opportunity could reach as much as $16 billion in the next three to five years, the bank’s analysts said.
(TK Kurikawa/Shutterstock)
By Will Canny
Apr 25, 2022 at 10:59 a.m. UTC
Apr 25, 2022
BankingAnalysis