Latest Business News, Market Insights & Global Economy Updates
World App, the gateway to the Sam Altman-founded blockchain network World, has begun piloting virtual bank accounts in the U.S., giving its users a new way to plug their everyday finances directly into the crypto economy. The feature issues unique virtual account numbers, allowing users to receive direct deposits, like payroll payments, straight into the…
It’s another milestone for Bitcoin BTC$99,302.05, which apparently for the first time has arrived on a central bank balance sheet. The Czech National Bank (CNB) on Thursday announced the creation of a $1 million test portfolio that includes bitcoin, a USD stablecoin, and a tokenized deposit. Approved by the bank board on Oct. 30, the…
A coalition of U.S. crypto, fintech and retail groups is uniting to defend open banking, warning in a letter that big banks’ attempts to charge for data access could choke off the connections between the financial system and digital wallets and stablecoins. Groups including the Blockchain Association, the Crypto Council for Innovation, the National Association…
Blockchain analytics firm Elliptic has secured a strategic investment from HSBC, making it the only company in the sector to be backed by four globally systemically important banks (G-SIBs). HSBC joins JPMorgan Chase, Santander and Wells Fargo on Elliptic’s investor roster. As part of the deal, Richard May, Group Head of Financial Crime at HSBC’s…
The Bank of Japan (BOJ) spooked markets Friday by announcing it will begin unwinding its $250 billion in exchange traded funds (ETFs) and Japanese Real Estate Investment Trusts (JREITs), assets it accumulated since 2010 as part of its ultra-loose monetary policy. Under the plan, the central bank will sell ETFs with a book value of…
