UAE central bank introduces licensing system for stablecoins
UAE central bank has approved new licensing for dirham-backed stablecoins. The licensing system is part of UAE’s broader Financial Infrastructure Transformation (FIT). The Dubai regulator updated the rules to allow…
Singapore’s largest bank DBS holds $650 million in ETH: Nansen
Singapore’s DBS bank holds over 173.7k ETH worth $650 million. Blockchain analytics plaform Nansen identified a whale wallet with the ETH as belonging to the bank. DBS, Singapore’s largest bank…
Bank of Israel launches “Digital Shekel Challenge” to innovate CBDC payment systems
Bank of Israel has launched “Digital Shekel Challenge” to develop CBDC payment solutions. Participants of the challenge will access a prototype system to create innovative digital shekel uses. Bank of…
Philippines’ central bank greenlights pilot for Peso-backed stablecoin
BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph. Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem. Transition to real-world usage subject…
Colombia’s largest bank launches crypto exchange and peso-pegged stablecoin
Bancolombia launches Wenia crypto exchange and COPW stablecoin in Colombia. The new crypto exchange aims to onboard 60,000 users in 1st year to compete with Binance and Bitso. Wenia is…
Germany’s largest federal state bank partners with Bitpanda
Germany’s LBBW bank and crypto exchange Bitpanda have announced a partnership. The federal bank will use Bitpanda’s technology to develop its own custody solution for crypto. Landesbank Baden-Württemberg (LBBW), Germany’s…
Germany’s DZ Bank set to pilot crypto trading
DZ Bank, Germany’s 2nd largest, will pilot crypto trading for cooperative banks. The initiative aims to meet rising customer demand for direct access to cryptocurrencies. DZ Bank’s move reflects a…
HSBC and Hang Seng join Standard Chartered and Fubon Bank in China’s Digital Yuan Pilot
HSBC and Hang Seng Bank have officially joined China’s digital Yuan pilot. HSBC China customers can now utilize their debit cards to access personal digital Yuan wallet services. There have…
Austria’s Raiffeisen Bank to launch crypto trading in partnership with Bitpanda
Austria’s Raiffeisen Bank will launch crypto trading in 2024. Raiffeisen Bank International has $215B in assets and a customer base spanning the European Union and Eastern Europe. Bitpanda crypto exchange…
IMF MD asks for global preparation for central bank digital currencies (CBDCs)
IMF’s Georgieva urges global readiness for CBDCs at Singapore FinTech Festival. CBDCs are a potential cash replacement, enhancing resilience, and promoting financial inclusion. IMF introduces CBDC handbook and acknowledges BIS’s…