America’s credit regulator, the National Credit Union Administration (NCUA) has told domestic credit unions that they can partner with third-party cryptoasset service providers to give their members access to crypto markets. The NCUA outlined its stance on crypto in an open letter to unions, explaining that they could “buy, sell and hold various uninsured…
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Manasquan Bank, a mutual community bank in New Jersey serving residents since 1874, has announced it is partnering with the company Bakkt to give its retail clients the ability to buy, sell and hold cryptocurrency through the bank’s mobile banking application. Manasquan Bank to Give Customers Access to Crypto A mutual community bank headquartered in…
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In recent times cryptocurrency platforms have been airing a number of commercials on television in order to entice a broader audience to get into cryptocurrencies. The digital currency community has witnessed crypto commercials starring the seven-time Super Bowl winner Tom Brady and his supermodel wife Gisele Bündchen, award-winning director Spike Lee, and the actor Matt…
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Dmitry Vasiliev, former chief executive of Russian cryptocurrency exchange Wex, has been detained in Warsaw, the Polish press reported. Vasiliev is wanted in Kazakhstan where he is accused of fraud related to the now defunct trading platform, successor of the infamous BTC-e exchange. Former Wex Executive in Polish Custody as Prosecutor’s Office Reviews Extradition Request…
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The new service will tailor to companies offering retail investors exposure to cryptoassets through traditional investment channels Being your own bank isn’t for everyone — and that includes companies and fund managers looking to issue cryptocurrency investment vehicles. Cryptocurrency exchange and custodial services provider Gemini announced today the launch of a new service tailored specifically…
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The custody service of leading U.S. exchange Coinbase now controls more than 10% of the combined crypto asset market cap. Crypto data aggregator Messari has reported that the quantity of crypto assets stored in custody on U.S. exchange giant Coinbase surged in the last quarter of 2020. Messari Crypto has revealed that as much as…
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Experts say building custody solutions is tricky, but will become crucially important as crypto grows more valuable. As multiple banks prepare crypto custody services, holders now have to flip an old Bitcoin saying on its head: are the banks prepared to be their own (and others’) bank? Last week BNY Mellon, the oldest bank in…
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Digital asset financial services firm BitGo has formally applied for a New York Trust Charter from the NYDFS. Digital asset financial services firm BitGo is applying to become a qualified cryptocurrency custodian in New York state. In its announcement on Aug. 25, BitGo said its decision was spurred by fresh regulatory developments in the United…
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Institutions on the fence about crypto involvement may no longer fear legal uncertainty, given recent crypto custody regulatory clarity. Recent regulatory transparency provided by U.S. banking regulator, the Office of the Comptroller of the Currency, or OCC, may give interested institutions the confidence to enter the crypto industry. “For those of us who have been…
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German bank WEG has partnered with Anquan Capital to explore DLT applications in the banking and financial services industries. Ten31, the FinTech arm of Germany’s WEG Bank, has partnered with Singaporean technology incubator, Anquan Capital. While the entities have yet to detail the specific projects they’ll work together on, a press release announced that the…
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