Metropolitan Bank Heads for Crypto Exit

New York-based Metropolitan Commercial Bank (MCB) is to end its cryptocurrency offering, citing recent developments in the crypto industry.

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UAE AI Office joins forces with Chainalysis and ADCB to explore blockchain tech in banking

The UAE's Ministry of Artificial Intelligence and Chainalysis set up a training program for Abu Dhabi Commercial Bank directors and staff to improve their skills and advance the banking industry.

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Kazakhstan’s central bank to begin CBDC rollout from 2023 to 2025

According to Kazakhstan's Central Bank, the in-house CBDC should be made available from 2023, with progressive functionality expansion and commercial operation introduction through the end of 2025.

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Kazakhstan central bank recommends a phased CBDC rollout between 2023-25

Kazakhstan’s central bank recommended making the in-house CBDC available as early as 2023 with a phased expansion of functionality and introduction into commercial operation until the end of 2025.

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BIS releases full report on mBridge wholesale CBDC platform after successful pilot

The Bank for International Settlements is on a roll with its third publication within days detailing how commercial banks in four jurisdictions transferred funds using CBDCs.

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Commercial Bank International Becomes The First Bank In Dubai To Enter The Metaverse 

Commercial Bank International now has a metaverse space on the Decentraland. This is the first bank in Dubai to do so. 

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Blockchain Associations Forum asks Nigeria to review anti-crypto directive

The Blockchain Technology Association of Nigeria (SiBAN) has urged the Central Bank of Nigeria (CBN) to reconsider its current anti-crypto policy that restricts commercial banks and other financial inThe post Blockchain Associations Forum asks Nigeria to review anti-crypto directive appeared first on AMBCrypto.

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ECB President Says Digital Euro Won’t Be Used for Commercial Purposes

According to the President of the ECB (European Central Bank), Christine Lagarde, the upcoming digital Euro will ensure the protection of users’ data. She added that the ECB would not sell that user’s data collected through payment for commercial purposes. …

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Thai SEC Fines Bitkub Executive $235K for Insider Trading

Thailand’s oldest commercial bank recently backed out of a deal to buy a majority stake in Bitkub citing unresolved regulatory issues with the country's securities regulator.

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Siam Commercial Bank abandons plans to purchase $500M stake in crypto exchange Bitkub

The bank cited concerns with Bitkub “resolving various issues,” according to recommendations from the country’s Securities and Exchange Commission without a definite timeline.

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Тайский SCBX отказался от поглощения криптобиржи Bitkub за $500 млн

Финансовый конгломерат SCBX Group вышел из сделки по приобретению криптовалютой биржи Bitkub за $500 млн. Владелец старейшего банка Таиланда Siam Commercial Bank сослался на нормативные причины, сообщает Kaohoon.

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Siam Commercial Bank Scraps $500M Purchase of Stake in Thailand’s Largest Crypto Exchange

Siam Commercial Bank, Thailand’s oldest lender, abandoned a plan to buy a majority of Bitkub Online, citing unresolved regulatory issues.

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Crypto-adaptive BankProv inks deal with Republic to offer escrow accounts

Crypto-adaptive commercial bank BankProv is collaborating with crowdfunding marketplace Republic to offer escrow accounts to BankProv customers who want to raise funds on their platforms. The post Crypto-adaptive BankProv inks deal with Republic to offer escrow accounts appeared first on CryptoSlate.

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Voyager secures court approval to refund $270M, says it received better offers than FTX bid

Struggling crypto lender Voyager Digital has been allowed to return its customer’s $270 million deposited with Metropolitan Commercial Bank, The Wall Street Journal reported on August 4. The post Voyager secures court approval to refund $270M, says it received better offers than FTX bid appeared first on CryptoSlate.

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Суд разрешил Voyager Digital вернуть клиентам $270 млн

Суд по делам о банкротстве США одобрил предложение Voyager Digital разморозить депозит криптоброкера в Metropolitan Commercial Bank для возврата средств клиентам. На счете содержится $270 млн, пишет The Wall Street Journal.

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Voyager received better buyout offers than FTX’s, set to return $270M to customers

The crypto lender will be allowed to return a portion of customer funds locked up at the Metropolitan Commercial Bank which have been frozen until now.

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Metropolitan Bank requests court permission to honor withdrawals for Voyager Digital customers

Metropolitan Commercial Bank filed a statement supporting Voyager Digital’s request to honor withdrawals from its For Benefit of Customers (FBO) account on July 30. The post Metropolitan Bank requests court permission to honor withdrawals for Voyager Digital customers appeared first on CryptoSlate.

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Metropolitan Commercial Bank Supports Voyager Motion to Honor Withdrawals

The Metropolitan Commercial Bank has filed a statement in court saying that it supported the Voyager motion to honor withdrawals from the bank's For Benefit Of (FBO) accounts. The post Metropolitan Commercial Bank Supports Voyager Motion to Honor Withdrawals appeared first on BeInCrypto.

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Nigerian Commercial Banks ‘Apathetic’ Over CBDCs, says Governor

Nine months after launching the eNaira, the head of Nigeria’s central bank has criticized commercial banks over its lack of adoption. The post Nigerian Commercial Banks ‘Apathetic’ Over CBDCs, says Governor appeared first on BeInCrypto.

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US Treasury study finds CBDCs a plus for commercial bank stability

Access to CBDCs reduces banks’ need to insure against liquidity risks and gives policymakers greater information about trouble in the financial system, according to the study.

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BOE Deputy Governor Jon Cunliffe: Crypto Crash Survivors Could Become Future Amazons

Jon Cunliffe, Deputy Governor of Bank of England (BoE) for Financial Stability, posits an imminent emergence of institutional investors with the commercial might of e-commerce giants Amazon and eBay from the rumbles of the current crypto collapse.

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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.

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Terra (LUNA) Goes Live on Leading Thailand-Based Exchange

Terra (LUNA) has been listed on the leading Thai exchange, which was recently acquired by Siam Commercial Bank

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Liverpool Mulls Over Crypto Shirt Sponsorship Deal

Liverpool Football Club (LFC) may become the first Premier League team to broker a deal with a crypto firm as its main shirt sponsor. The club has had the Standard Chartered Bank as its main shirt sponsor since 2010 and is looking to increase its commercial appeal to compete with other elite clubs. The deal […]

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U.S. Unleashes New Sanctions Against Russian Oligarchs, Bank And Crypto Miner BitRiver

The US Department of the Treasury is targeting companies, oligarchs, and bitcoin miners operating in Russia for the first time ever as the country’s conflict on Ukraine enters its third month. Treasury officials announced Thursday that the department is now pursuing the Russian commercial bank Transkapitalbank, as well as a network of more than 40 […]

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Central Bank Of Russia Steps Up Monitoring P2P Transactions Including Crypto

The Central Bank of Russia (CBR) has proposed that the nation’s commercial banks tighten monitoring on crypto and regulator operations. The objective is to stop transactions that attempt to evade its “special economic measures to counter the outflow of foreign currency abroad,”.

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Russian Central Bank launches first stage of digital ruble testing

The first stage of digital ruble testing launched by the Russian Central Bank involves national commercial banks. Participants made the very first transfers in digital currency.

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Flushing it: $8B New York commercial bank to offer Bitcoin services

“As part of our ongoing digital transformation, we recognize the importance of staying current with emerging market trends,” said Flushing Financial Corporation CEO and president John R. Buran.

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Ernst&Young: CBDC and stablecoins threaten stability of commercial banks

A new report from consulting firm Ernst&Young highlights the need for bank policy changes to address the challenges posed by central bank digital currencies and stablecoins.

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Swiss central bank tests wholesale CBDC with commercial partners

The Swiss National Bank integrated a wholesale CBDC into the banking systems of five commercial banks as part of the second phase of Project Helvetia.

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Customers Bank Deepens Commitment to Cryptocurrency and Digital Asset Clients with Team Recruitment

Customers Bank, a top 100 digital forward commercial and consumer bank with approximately $19.1 billion in assets and the subsidiary of Customers Bancorp, Inc. has...

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Ukraine Commercial Bank Uses Stellar To Launch Digital Currency Pilot

Tascombank, one of Ukraine’s oldest commercial banks, will be running a pilot for Ukraine’s digital currency on the Stellar blockchain network. Ukrainian Bank Is Running A Stellar-Based Pilot For Digital Currency Announced today, Stellar will be used to test a private electronic version of the hryvnia (Ukraine’s sovereign currency). The pilot, being deployed via the […]

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Ukraine’s central bank to run a CBDC trial on the Stellar blockchain

Tascombank, one of the oldest commercial banks in Ukraine, is readying to test a central bank digital currency (CBDC) under the supervision of the National Bank of Ukraine (NBU). A report unveiled this news earlier today, noting that Tascombank joined hands with global fintech platform Bitt in this trial.

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Bitkub Coin surges 200%, Mana continues its decline and HUH Token announces its launch

Bitkub Coin, the product of Thailand’s latest startup Biktub Online Co, has surged over 200% after it sold a majority stake to the nation’s biggest bank by market value. Siam Commercial Bank Pcl announced that it will acquire 51% of Bitkub for 17.

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Старейший банк Таиланда купил 51% долю в биткоин-бирже Bitkub за $536 млн

Старейший и третий по величине банк Таиланда Siam Commercial Bank (SCB) инвестировал около 17,85 млрд тайских бат (~$536 млн) в криптовалютную биржу Bitkub путем покупки 51% акций. Завершение сделки ожидается в первом квартале 2022 года в случае одобрения со стороны регуляторов.

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Siam Commercial Bank purchases 51% stake in crypto exchange Bitkub

CEO Arthit Nanthawittaya said the acquisition was based on the growth of businesses in the digital asset space over the last two years and the expected value in the long term.

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Thailand’s Oldest Bank Acquires Majority Stake in Local Crypto Exchange

Siam Commercial Bank Pcl, the oldest bank in Thailand, is getting deeper into the crypto space by acquiring a 51% stake in the local cryptocurrency exchange Bitkub for 17. 85 billion baht, more than $537 million.

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Russian Central Bank to oblige commercial banks to block crypto-related transfers

The Russian Central Bank intends to recommend commercial banks block money transfers to cryptocurrency exchanges in order to protect retail investors from transactions made under the influence of emotions.

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Bitcoiners Uneased As Nigeria’s CBN Rolls Out CBDC Guidelines

Recent reports indicate that Nigeria, the West African country, is heading towards launching its promised Central Bank Digital Currency (CBDC). The Central Bank of Nigeria (CBN), in a sensitization circular to commercial banks, revealed the features of the e-Naira – the planned CBDC.

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Cuba May Authorize Bitcoin Payments for Local Transactions

The Central bank of Cuba has announced its intentions to regulate the use of cryptocurrencies in commercial transactions across the country. Government Agencies Barred From Using Crypto The Cuban Central Bank (BCC) said in a resolution that the bank must duly authorize the use of Bitcoin in commercial transactions.

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Cuba to start regulating the use of crypto in commercial transactions

The Cuban Central Bank (BCC) is planning to start regulating the use of cryptocurrencies in commercial transactions. The authority unveiled this news through an official gazette on August 26, saying it intends to support the use of certain virtual assets in commercial transactions for socioeconomic reasons.

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Ripple и GME Remittance ускорят денежные переводы между Южной Кореей и Таиландом

Один из крупнейших небанковских провайдеров денежных переводов в Южной Корее Global Money Express Co. Ltd (GME Remittance) присоединился к RippleNet. Согласно заявлению, через финансовую сеть от Ripple корейская компания подключилась к Siam Commercial Bank, ведущему банку Таиланда.

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GME Remittance joins RippleNet to streamline remittances to Thailand

Global Money Express Co. Ltd, a leading non-bank remittance service provider in South Korea, has joined the RippleNet network. Ripple announced this news on August 10, saying joining RippleNet has helped the company establish a connection with Siam Commercial Bank (SCB), the third-largest bank in Thailand.

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GME Remittance Joins RippleNet to Accelerate and Scale Payments from South Korea into Thailand

Today, we’re excited to announce that Global Money Express Co. Ltd (GME Remittance), one of the largest non-bank remittance service providers in South Korea has joined RippleNet. Through RippleNet, Ripple’s global financial network, GME Remittance has connected to Siam Commercial Bank (SCB), Thailand’s largest bank in terms of market capital.

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Circle plans to become a Federally-chartered commercial bank

Circle CEO Jeremy Allaire says the company will look to achieve the goal with…

The post Circle plans to become a Federally-chartered commercial bank appeared first on Coin Journal.

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Circle Looking to Become National Digital Bank

Circle is looking for a revolution in digital assets indstutry with goal of becoming a digital national commercial bank

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JPMorgan: CBDC Development Should Not Disrupt Existing Banking Infrastructure

Banks represent the commercial financial infrastructure in any given economy and therefore should not be under the threat of being phased out by the development of central bank digital currencies, according to JPMorgan’s strategist Josh Younger.

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Why Thailand’s oldest bank is bullish on DeFi [EXCLUSIVE]

Mukaya “Tai” Panich, Chief Venture and Investment Officer of Siam Commercial Bank’s venture arm SCB 10X, imagines a world in which decentralized finance (DeFi) powers the back-end of traditional finance companies.

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Президент SCB: «индустрию DeFi невозможно регулировать в полном объеме»

Президент Siam Commercial Bank Арак Сутивонг считает, что DeFi нужна структура, позволяющая интегрировать его с остальной финансовой экосистемой.

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