The Liechtenstein royal family-owned bank, LGT, now offers clients direct investments in Bitcoin and Ethereum while also providing custody services. The private bank announcement stated that the services would first be available to its clients in Liechtenstein and Switzerland. The bank is partnering with Swiss digital assets services provider SEBA Bank for this new product….
Goldman Sachs has announced the availability of its first-ever lending facility backed by Bitcoin (BTC), Bloomberg reported. This marks a big step forward for the major U.S. bank and accelerating Wall Street’s acceptance of cryptocurrencies. According to a bank representative, the secured loan facility provided cash collateralized by the borrower’s Bitcoin. Goldman was drawn to…
Swiss crypto company Taurus is providing infrastructure and custodial services for the French bank Banque Delubac & Cie. The bank has recently been granted the status of Digital Asset Service Provider (DASP). It can now offer digital asset services to its customers. The CEO of Taurus, Lamine Brahimi, said, “the demand now is getting mainstream.”…
The Miami-based startup, Milo Credit, is offering Bitcoin-backed mortgages to allow people to purchase homes without selling their coins. In the US, like most countries, selling crypto for fiat is a taxable event. This means any gains or losses since the purchase are realized at the point of sale and therefore taxed, which is due…
Indian banks have approached the National Payments Corporation of India (NPCI), the body in charge of the country’s digital payment and settlement system, to get clear instructions on using the Unified Payment Interface (UPI) for crypto transactions. A report unveiled this news earlier today, noting that several banks have raised the issue with the entity…
Goldman Sachs is looking to form a partnership with FTX, one of the largest bitcoin exchanges, the Financial Times reported on April 21. According to the report, Goldman Sachs CEO David Solomon met with FTX founder Sam Bankman-Fried in a closed-door meeting in March to examine possible opportunities for collaboration. The discussions were about minimizing…
Crypto markets fall as Federal Reserve chair Jay Powell states that they need to move “more quickly” in raising interest rates. Powell also expressed that a “0.5 percentage point interest rate increase was on the table in May.” Bitcoin dropped to $40,586 from a daily high of $42,965, while the total crypto market fell to …
Circle Internet Financial Limited has said it is looking to apply for a U.S. bank charter soon, according to a Bloomberg News report. The crypto payments company — the issuer of the USDC stablecoin — first talked about a bank charter in 2021 but has yet to file an application with the Office of the…
Europe-based digital asset exchange Nexo has launched a new product to complement its existing retail platform. Dubbed Nexo Prime, the new proprietary prime brokerage platform targets institutional investors, corporations, and high-net-worth individuals. According to Nexo, the Nexo Prime platform is designed to serve as a unified platform that provides investors with access to advanced tools…
The macroeconomic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, Bank of America strategists warned in a weekly research note, Reuters reports. Bank of America chief investment strategist Michael Hartnett wrote, in a note to clients, that “Inflation shock”…