Banks

Google will offer checking accounts, says it won’t sell the data

Enlarge / Google logo seen during Google Developer Days (GDD) in Shanghai, China, September 2019. Lyu Liang | VCG | Getty Images The Google empire is enormous and ubiquitous, covering basically the entire Internet in one way or another. There is, however, one lucrative business the company does not yet have a foothold in: banking. …

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Crypto-Friendly Mobile Banking Firm Revolut to Attempt Raising $500M+

British mobile banking firm Revolut is negotiating with investors to raise at least half a billion dollars next year, Reuters reports on Nov. 12. Since the end of 2017, Revolut’s app has allowed its users to complete transactions in cryptocurrencies including Bitcoin (BTC), Litecoin (LTC) and Ether (ETH). According to Reuters, Revolut plans to raise …

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Study: Chinese Blockchain Spending to Exceed $2B by 2023

China’s spending on blockchain technology will exceed $2 billion in 2023, official state-run publication Xinhua reported on Nov. 10. The report claims that blockchain development in China will see a compound annual growth rate of 65.7% from 2018 to 2023. China’s banking sector responsible for the bulk of blockchain spending in 2019 Citing a study …

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Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report

A Canadian bank, which banned its clients from buying Bitcoin (BTC), could now become the first in the country to launch a cryptocurrency exchange.  As innovation economy news outlet The Logic reported on Nov. 11, the Royal Bank of Canada (RBC) is now rumored to be considering the plans. RBC reportedly planning multifunctional exchange RBC …

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HCM Capital Expects China’s Digital Currency to Launch in 2-3 Months

Founding managing partner of HCM Capital, the private equity arm of electronics manufacturer Foxconn, Jack Lee, says China’s Central Bank Digital Currency (CBDC) is ready and expects it to launch in two to three months.  During an interview with CNBC published on Nov. 11, Lee also suggested that the People’s Bank of China (PBoC) will …

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Standard Chartered Banking Group Joins Ethereum Enterprise Alliance

International banking group Standard Chartered has become the latest member of a blockchain standard-building organization, the Ethereum Enterprise Alliance (EEA). In a press release issued on Nov. 6, Standard Chartered said the move would allow it to expand its client offerings across its 60 international markets. Standard Chartered is latest EEA banking member “Technology enables …

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Int’l Bank Regulator Is Studying Crypto Lending Capital Requirements

Global banking regulator the Basel Committee on Banking Supervision (BCBS) is working to establish how much capital lenders should hold to cover the risks generated by dealing with cryptocurrencies. Business Reporter published the news on Nov. 7 that the Basel Committee — which includes banking regulators from the United States, Europe and Japan — agreed …

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Pro-Crypto Silvergate Bank Goes Public in Listing on NYSE

Shares of pro-crypto Silvergate Bank were launched for trading on the New York Stock Exchange (NYSE) on Nov. 7. Silvergate celebrates IPO day Silvergate Capital (NYSE:SI), a California-based commercial bank focused on digital currency businesses, is now officially listed on the NYSE, opening at $12.75, the NYSE tweeted Nov. 7. In conjunction with the event, …

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President Erdogan: Turkey to Finish Testing Digital Lira in 2020

Turkey’s President Recep Tayyip Erdogan directed that the government should finish testing the national central bank digital currency (CBDC) in 2020. The country’s national blockchain-based digital lira is planned to be issued by the Central Bank in accordance with the 2020 Annual Presidential Program, Cointelegraph Turkey reported on Nov. 5. Digital lira ‘instant payment’ pilots …

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Joe Lubin: China Will Avoid Blockchain’s ‘Decentralizing Aspects’

China’s forthcoming digital renminbi is unlikely to use blockchain, considers Ethereum (ETH) co-founder and ConsenSys CEO Joe Lubin. In an interview for CNBC’s Squawk Box Asia on Nov. 6, Lubin argued that the People’s Bank of China (PBoC) has little to gain — for its purposes — from the decentralized aspects of the technology. “There’s …

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