Banking Circle, a European bank focused on cross-border payments, is adopting a major U.S. dollar-pegged stablecoin for payment rails. The firm officially announced on Friday the adoption of the USD Coin (USDC) on its platform as a payment acceptance, processing and settlement method. The new payment feature is enabled as part of Banking Circle’s new service targeting banks and payment providers, allowing them to facilitate payments outside traditional bank rails. Coinbase, a major cryptocurrency exchange in the United States, will be one of the crypto liquidity providers for Bank Circle, the announcement notes. The USDC adoption by Banking Circle is …

In a bullish report released by professional services firm PwC Luxembourg, 61% of 123 Luxembourg-based financial players are “embarking or planning to embark on a crypto journey.” The report comes hot on the heels of competitor professional services firm KPMG Canada’s decision to add Bitcoin (BTC) and Ethereum (ETH) to its treasury. It appears the Big Four is warming up to crypto. Thomas Campione, blockchain & crypto-assets Leader for PwC Luxembourg, told Cointelegraph that “For many years, traditional players have been looking at crypto-assets with skepticism.” He added that a possible combination of “branding issues” and a lack of understanding …

Luxembourg-based Blocktrade has become the latest cryptocurrency exchange to receive major backing from venture capitalists, offering further evidence that digital asset startups are becoming a prime target for investment funds. Private investors across 33 countries participated in the $25.8 million, or 22 million euros, Series A round, Blocktrade announced early Tuesday in Europe. The investors were not disclosed. Blocktrade said that the funding will go toward improving internal operations, especially in the areas of security, fiat onramps and market-making. The company also said it would allocate more resources to growing its potential user base, as well as pursue other business …

The central bank of France — Banque de France — is continuing its work on the development of a European central bank digital currency (CBDC). On Monday the bank officially announced the successful completion of a CBDC experiment with major Switzerland-based cryptocurrency bank SEBA. Conducted in collaboration with SEBA, Banque Internationale à Luxembourg, and Luxembourg central securities depository LuxCSD, the experiment used a CBDC to simulate the settlement and delivery of listed securities on TARGET2-Securities (T25), a European securities settlement engine. SEBA purchased securities from Banque Internationale à Luxembourg, with post-trade settlement managed by LuxCSD. Related: Digital euro offers better …

One of the smallest countries in Europe is aiming to be comparatively progressive in its adoption of blockchain and cryptocurrencies, according to the nation's leadership. Speaking in a prerecorded message to attendees of the Luxembourg Blockchain Week conference, Prime Minister Xavier Bettel said the country is planning to "keep looking forward" and "keep taking risks" when it comes to innovative technology like blockchain. Bettel described blockchain as mainly about "cryptocurrencies and hype," jokingly saying he could create a nonfungible token, or NFT, of his scarves and "make a lot of money in a very short time." "My government's goal is …

Bitstamp, one of the world’s oldest and largest cryptocurrency exchanges, is replacing its CEO for the first time. Nejc Kodrič, the firm’s CEO who co-founded Bitstamp back in 2011, is stepping down from his position. He will be moving into a new advisory role on the company’s board of directors, Bitstamp executives told Cointelegraph on Oct. 22. Julian Sawyer, who currently serves as the managing director of the United Kingdom and Europe at major global crypto exchange Gemini, will replace Kodrič, becoming the second CEO in Bitstamp’s history. The replacement is purportedly a response to the dynamic growth of the …

Bitstamp, one of the world’s oldest and largest cryptocurrency exchanges, is relocating its European clients from the United Kingdom. Bitstamp is now migrating the accounts of its customers in the U.K. to Bitstamp Europe SA, a business entity based in Luxembourg. An executive at the exchange confirmed the news to Cointelegraph on Aug. 25. Vasja Zupan, COO of Bitstamp, told Cointelegraph that Bitstamp is migrating European clients from its Bitstamp Ltd. entity to the Luxembourg-based entity. According to the executive, Bitstamp has been planning to migrate the clients for months. Zupan highlighted that the account migration “does not involve any …

Luxembourg-based startup ANote Music will launch a blockchain-based platform that allows its users to invest in music royalties on July 28. In an announcement on June 4, CEO and co-founder at ANote Music Marzio Schena said that the platform aims to “bridge the gap between the music industry and capital markets.” The platform reportedly helps artists, record labels, publishers, and songwriters become financially independent by allowing them to access funding through royalty sales. After investing, users receive a share of rights and can trade them with others on the platform at prices determined by supply and demand. Schena explained: “Our …

A German startup is attempting to list a Bitcoin (BTC) derivative product on the Frankfurt and Luxembourg stock exchanges. According to German business news daily Handelsblatt on Oct. 29, the startup Iconic has filed a prospectus for regulated trading of a Bitcoin exchange-traded note (ETN), which could become available as soon as the beginning of December 2019. Iconic said that it will issue an ETN that will offer investors exposure to the seminal cryptocurrency on a regulated marketplace. The ETN will also be issued its own International Securities Identification Number. Handelsblatt states that, while Iconic is based in Frankfurt, the …

Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), has red-flagged the activities of a fraudulent clone website that is impersonating cryptocurrency payment services provider BitPay. On Sept. 18, the CSSF issued a warning about a company going by the name Bitbay Europe S.A. The website alludes to being the European branch of BitPay, stating: “The world's smartest Bitcoin exchange service has landed in Europe.” The firm claims to be authorized to operate in Luxembourg and work under the regulator's supervision, but the CSSF refuted this, saying: “The CSSF informs the public that an entity named bit-bay EUROPE …

Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), says that a seemingly crypto-related entity called Cryptominingoptionsignal claims to be licensed in Luxembourg, but is not. In a warning notice dated Aug. 13, the country’s watchdog simply wrote: “The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named Cryptominingoptionsignal [...] The CSSF informs the public that Cryptominingoptionsignal is unknown to it and that the entity has not been granted any authorisation to provide investment services or other financial services in or from Luxembourg.” Innovation in Luxembourg As previously reported by …

Two European companies have launched what they describe as the world’s first genuine bitcoin (BTC) bond, they confirmed in a joint press release on July 3. Luxembourg-based Argento, a securitization firm, joined forces with London Block Exchange (LBX) to issue the bitcoin-denominated bond, which is regulated under the United Kingdom’s regulator, the Financial Conduct Authority (FCA). “We are thrilled to have structured and produced the world’s first institutional grade bitcoin-denominated financial product,” Argento manager Phil Millo commented. “The large investment banks really dropped the ball on this one.” The Argento-LBX bond represents a first in regulated cryptocurrency products, in that …