Venmo’s 60 million users can now fund transactions on the Moonpay platform, thanks to a new integration announced by Paypal. U.S. users can use Venmo balances, linked bank accounts, or cards to buy and sell cryptocurrencies through Moonpay, expanding payment flexibility. However, this option is unavailable in New York and Texas, continuing Paypal’s push into…
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Banking giant Standard Chartered is predicting a sharp rise in bitcoin’s value, with forecasts suggesting it could approach its all-time high of $73,800 as the U.S. presidential election nears. Rising Treasury yields, growing interest in bitcoin ETFs, and Trump’s improving election odds are key factors driving this potential rally, supported by increasing institutional inflows and…
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Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks.…
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Kansas-based now-failed Heartland Tri-State Bank’s former head has pled guilty on Thursday for embezzling $47.1 million for a series of “personal crypto purchases.” This led to the bank’s failure in July 2023, at a complete loss of equity for investors, the U.S. Attorney’s Office for the District of Kansas noted. Shan Hanes, 52, who served…
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Wells Fargo, the third largest bank in the United States, has invested in one of the country’s new Bitcoin ETF products. According to a 13F-HR form submitted on Friday, the bank held exposure worth $143 million across three different Bitcoin investment products as of March 31. Wells Fargo Buys Bitcoin The vast majority of those…
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The Brazilian megabank Nubank is launching withdrawal services for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), in the latest bullish move from the neobank. In an official notice on the Nubank community page, the bank said that it would allow customers to “send and receive [cryptoassets]” from their app-based wallets. The bank first announced its…
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Banking giant HSBC is now allowing retail investors in Hong Kong to buy real gold through digital tokens. HSBC’s new gold investment is available through the bank’s online banking service and app, it said Wednesday. It’s the first time HSBC has used its private distributed ledger for everyday investors. To power the gold token, the…
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K Bank, a South Korean neobank that has seen rapid growth thanks laregely to its crypto operations, is set to make an initial public offering (IPO) bid. Unnamed financial sector officials said on March 10 that K Bank’s board of directors has signed off on the move. The goal bank now reportedly has the “goal…
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Alfa-bank, one of Russia’s biggest financial institutions, has created a “digital financial asset” (DFA) backed by gold, stocks, and cash. Per an Alfa-bank press release published on February 28, the bank said its new “tool” lets customers “invest in four asset classes at once” using bank-issued tokens. Alfa-bank Launches DFAs – More Russian Banks to…
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Traditional banking giants Bank of America and Wells Fargo are offering eligible wealth management clients access to spot Bitcoin exchange-traded funds (ETFs). The ETFs have been available to clients for several weeks, a source familiar with Bank of America’s plans told Reuters. The move follows the Securities and Exchange Commission’s (SEC) approval of these investment vehicles…
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