Peter Wuffli, the former CEO of Switzerland’s largest bank UBS and director at Swiss crypto bank Sygnum, wants to tap the “$220 billion market of institutions and private individuals who already own cryptocurrencies.” Local news outlet SwissInfo reported on Sept. 26 that Wuffli has shown excitement concerning the potential of crypto assets. In an interview, he told the outlet: “The most immediate opportunity is the existing $220 billion market of institutions and private individuals who already own cryptocurrencies. Thousands of clients have contacted us for a one-stop-shop for asset custody, loans and trading cryptocurrencies seamlessly with fiat currencies.” Asset tokenization …

The Committee of Monetary Policy (COPOM) of Argentina’s Central Bank (BCRA) has announced it intends to increase the peso's monetary base by 2.5% per month for the next two months on Sept. 18. “To ensure monetary and financial stability” The move is meant to ensure monetary and financial stability. The bank believes that the inflation of the Argentine peso caused by depreciation suggests a reduction in real monetary supply. The new exchange rate also lets observers project a real demand for sustained money. The bank concludes that — given limited liquidity — it is necessary to update the originally established …

Alfa-Bank and X5 Retail Group partnered to launch a blockchain liquidity management service in Russia. According to a press release published by the bank on Sept. 12, the service — dubbed Distributed Treasury and Cash Management (DTCM) — enables Alfa-Bank’s corporate clients to manage their payments, loan and deposit products, as well as liquidity pool inside the holding. A bank created for the user The service is described as a “bridge to the Bank-as-a-Service (BaaS) model for corporations.” Director of the Alfa-Bank Center for Innovations Research and Development Denis Dodon explained: “The key difference between DTCM and other offers available …

Twitter and Square CEO Jack Dorsey stated that there are no plans for a platform-specific “Twitcoin” cryptocurrency, noting that he will instead focus on promoting Bitcoin (BTC). Open standards are better According to Australian news outlet The Sydney Morning Herald’s article published on Sept. 5, Dorsey is confident that Bitcoin is still the most likely candidate to beсome the internet's native currency. Twitter CEO noted: “I think open internet standards serve every person better than ones controlled or started by companies.” Nobody understands the global economy Dorsey visited Melbourne to take part in the launch of Square Terminal, a new …

Banking is often seen as the antithesis of Bitcoin (BTC), the very industry the nascent protocol looks to defuse and disrupt. Ironically, many banks are desperately in need of the attributes and facilities afforded by cryptocurrencies — specifically blockchain, their underlying technology. Perhaps then, it’s not too surprising that more and more cryptocurrency banks are springing up, offering an alternative to tired legacy systems and allowing room for an emerging asset class. However, some significant hurdles remain for these emerging institutions. Regulatory uncertainties are rife within the world of cryptocurrency banking. Ill-equipped regulatory bodies often attempt to pen in budding …

The nominee to be the next president of the European Central Bank (ECB), Christine Lagarde, has said central banks and financial bodies should protect consumers but be open to innovations such as cryptocurrencies. Changes are opportunities Lagarde, who is currently head of the International Monetary Fund, told the Economic and Monetary Affairs Committee of the European Parliament that central banks and financial regulators should embrace the opportunities presented by change. In her opening statement, shared with Cointelegraph via an IMF news release, Lagarde said: ”In the case of new technologies – including digital currencies – that means being alert to …

Yves Mersch, European Central Bank’s key legal official, said that Facebook’s Libra stablecoin is “beguiling but treacherous” during a speech at the ECB’s legal conference in Frankfurt on Monday. Bloomberg reported on Mersch’s remarks in an article published on Sept. 2. Per the report, he said that private currencies have little or no prospect of establishing themselves as viable alternatives to centrally-issued legal tenders. Mersch: Only central banks can be trusted He believes that only independent central banks can grant sufficient institutional banking to make a currency reliable and win public trust. He further noted: “I sincerely hope that the …

Cryptocurrencies are upending the worlds of banking, retail and payments in countless ways, but there has been one area where this burgeoning industry has somewhat fallen behind: investments. While it can be easy to build portfolios that focus on stocks and shares or fiat currencies, diversifying into crypto funds has proven harder for consumers and professionals alike. This has been partially because of how many financial institutions have been reluctant to embrace digital assets so far. Another issue has been how portfolio managers in the crypto space have been struggling to share their strategies with the public. While a lack …

The Santiago Stock Exchange (STE), Central Securities Depository (DCV) and the Global Trade Directory (GTD) announced a new blockchain association. Latin America focused business intelligence firm BNamericas reports on Aug. 27 that STE, DCV and GTD have set up a consortium for blockchain financial application development, which is reportedly the first such initiative in Latin America. Blockchain-based stock trading coming to Latin America The agreement foresees the creation of a business blockchain network: infrastructure meant to connect stock market clients worldwide via nodes that will provide access to the different applications running on the Hyperledger-based platform. Central Securities Depository general …

The Kerala Blockchain Academy (KBA), a government initiative under the Indian Institute of Information Technology and Management, is now a general partner of R3. Local news outlet The Economic Times reported on Aug. 27 that New York-based enterprise blockchain firm R3 chose the KBA as a general partner. According to the article’s author, the academy already designed a developer certification program on the firm’s Corda blockchain, meant for banking and technology professionals. Governmental blockchain education Per the report, KBA is the first government institution in India which offers a Corda blockchain development program. Moreover, the initiative also provides in-person training …

German bank WEG Bank obtained a cryptocurrency trading and custody in Estonia. WEG Bank confirmed in a tweet published on Aug. 25 that it obtained a crypto trading and custody license in Estonia. Estonia greenlights German bank to trade and hold crypto Furthermore, the firm also announced that it is now trying to take hold of a securities trading and custody license in Germany. The bank stated: “We announce that as of today we have secured full access to a crypto trading and custody license in Estonia and are equally applying for a securities trading and custody license in Germany.” …

The Commonwealth Bank of Australia is currently prototyping blockchain tokens meant to enable landowners, environmental groups, developers and governments to invest in sustainable development. Commonwealth Bank’s “BioTokens” The bank announced in a press release published on Aug. 21 that it is working on “BioTokens,” enabling sustainable investments co-developed with BioDiversity Solutions Australia. Per the report, the project is part of broader developments meant to support regional businesses across the country — and enable the creation of crypto assets representing biodiversity credits for New South Wales Government’s Biodiversity Offsets Scheme. The government project — introduced in 2017 — requires companies to …