Banks and Fintech | ForkLog

ForkLog 40 12.09.2024

Russia’s Central Bank Sets Timeline for Digital Ruble Access

By July 1, 2025, Russia’s largest banks are required to offer clients access to digital ruble operations, including account opening, funding, and transfers. The Central Bank of Russia has submitted the relevant proposals for legislative amendments to the Ministry of Finance. Other banks with a universal license have until July 1, 2026, to update their […]

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ForkLog 20 27.08.2024

Ukraine’s Central Bank Sets Limits on P2P Transactions

Starting October 1, the National Bank of Ukraine will impose restrictions on outgoing P2P transfers between individuals for a six-month period. The limit is set at 150,000 hryvnias per month and applies to all accounts held by a client within a single bank. The restrictions do not apply to volunteers meeting the regulator’s criteria or […]

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ForkLog 9 14.08.2024

Goldman Sachs and DRW Reveal Crypto ETF Holdings

Investment bank Goldman Sachs and trading firm DRW Holdings have disclosed in their filings to the SEC the addition of cryptocurrency-related exchange-traded funds to their portfolios. As of the end of July, the former institution held shares in spot BTC-ETFs from BlackRock, Fidelity, Grayscale, Invesco Galaxy, Bitwise, WisdomTree, and Ark 21Shares, valued at $418.7 million. […]

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ForkLog 27 13.08.2024

Ukraine’s P2P Transaction Limits Threaten Crypto Market, Say Experts

Ukraine’s National Bank aims to finalise a draft decision on limiting the number of P2P transactions for individuals by the end of the week. This was stated by the head of the regulator, Andriy Pyshny, in an interview with Ekonomichna Pravda. The document will introduce limits on card-to-card transfers between individuals. It is expected that […]

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ForkLog 24 09.08.2024

Donald Trump Jr. Unveils Platform Aiming to Challenge Banks

Donald Trump Jr. has disclosed details of a cryptocurrency and DeFi-related project he announced the previous day, according to Cointelegraph. The platform aims to address inclusivity issues regarding access to financial services. “We want to take on a large part of the banking world. I think there is a great inequality in that only certain […]

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ForkLog 60 03.08.2024

Morgan Stanley to Offer Bitcoin ETFs to Clients

Fifteen thousand financial advisors at Morgan Stanley will offer exchange-traded funds based on the leading cryptocurrency to their clients, according to CNBC, citing sources. The funds in question are IBIT from BlackRock and FBTC from Fidelity. The offering will be available to clients with a net worth of at least $1.5 million starting Wednesday, August […]

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ForkLog 18 31.07.2024

M2 to Enable Bitcoin Purchases via Bank Accounts in UAE

The M2 platform, registered with the FSRA, will allow clients to trade cryptocurrencies directly from their bank accounts, as reported by Cointelegraph. Users can exchange Bitcoin and Ethereum for dirhams and vice versa. There is also an option for depositing and withdrawing funds in the national currency. The company believes that the new integration will […]

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ForkLog 42 25.07.2024

Revolut Secures UK Banking Licence

Fintech firm Revolut Ltd. has secured a preliminary banking licence from UK regulators. This will allow the company to enter a mobilisation phase to test systems and gradually roll out new services. Once restrictions are lifted and a full licence is obtained, Revolut will become a fully-fledged online bank, able to offer overdrafts, loans, and […]

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ForkLog 17 19.07.2024

Hong Kong’s ZA Bank to Partner with Stablecoin Issuers

Hong Kong’s virtual bank ZA Bank will provide reserve services for stablecoin issuers. According to its representatives, the bank is in talks with ten companies regarding potential partnerships. ZA Bank, the largest virtual bank in Hong Kong, announced that it will provide reserve bank services for stablecoin issuers and is currently negotiating cooperation with nearly […]

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ForkLog 27 12.07.2024

US Congress Fails to Override Biden’s Veto on SAB 121 Repeal

On July 11, the US House of Representatives fell short of the two-thirds majority needed to override President Biden’s veto on legislation to repeal SAB 121. The document effectively prohibited banks from holding digital assets on their balance sheets, reports The Block. The bulletin remains in effect. A total of 228 congressmen voted for its […]

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ForkLog 45 27.06.2024

Coinbase Sues SEC and FDIC Over Lack of Transparency

The exchange accused regulators of failing to comply with the Freedom of Information Act. The company perceived the actions of the agencies as a targeted campaign against the digital asset industry. Coinbase has filed a lawsuit against the SEC and the FDIC over their attempts to “cut off” the crypto industry from the banking sector, […]

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ForkLog 40 24.06.2024

McKinsey Projects Tokenized Asset Market to Reach $1.9 Trillion by 2030

The volume of tokenized assets is projected to reach $1.9 trillion by 2030, despite a “cold start,” according to McKinsey. In a more optimistic scenario, this figure could double, though analysts have become more skeptical about its likelihood. A pessimistic outlook suggests growth to $0.8 trillion. Source: McKinsey. Experts noted that tokenization has gained “significant […]

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