Top traders say Bitcoin log chart points to a 2017-style BTC bull run

As Bitcoin price rises to new heights, top traders say the monthly and logarithmic chart signal that BTC is entering a new bull trend. Peter Brandt, a well-regarded veteran trader, recently emphasized the high demand from institutions as a key catalyst for Bitcoin's strong performance.

Institutions Long and Hedge Funds Short: Bitcoin Options Traders Prep for ‘Big Moves’ Ahead

Trends in bitcoin options markets are making it difficult for financial analysts to pinpoint BTC’s next move.

Institutional Bitcoin longs at record-high, hedge funds short — CME data

CME data shows Institutions are long Bitcoin while hedge funds are aggressively shorting BTC. According to CME, the amount of Bitcoin (BTC) long contracts held by institutions are at an all-time high.

Japanese payments firm JCB and Mizuho Bank test blockchain-based ID

Fujitsu has been working on blockchain-based digital identity tools since 2019. Major financial institutions in Japan are moving into blockchain to streamline digital identity systems. Japan’s third-largest bank, Mizuho Bank, and local payment giant JCB are preparing to pilot a digital identity interoperability system based on blockchain technology.

Top 5 cryptocurrencies to watch this week: BTC, XLM, CRO, BNB, LTC

Traders are accumulating Bitcoin on dips and a break above $11,600 could resume the uptrend to $12,000. Data from Skew shows Bitcoin’s (BTC) spot volume on LMAX Digital, an exchange that mainly caters to institutions, has overtaken retail-oriented exchanges.

Institutions backing Bitcoin: what to expect

Although the market was shaken as the regulatory hammer struck BitMEX at the start of October, it has since recovered.

Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps

Institutions hold record bullish beets in CME Bitcoin futures as the cryptocurrency shows resilience to negative news.

Why Bitcoin may beat an upcoming financial crisis?

As institutions line up to buy Bitcoin, its origin story comes into focus.

‘Enormous wall of money’ will send Bitcoin to $1M in 2025 — Raoul Pal

The largest cryptocurrency will “massively outperform gold” before that, says the Real Vision founder. Bitcoin (BTC) hitting $1 million by 2025 is “about right,” Real Vision founder and CEO Raoul Pal has confirmed. In an interview with Stansberry Research last week, Pal, famous for his bullish stance on Bitcoin, said an “enormous wall of money” would flow into the cryptocurrency over the next few years. Pal: Bitcoin in line for “enormous” capital inflows “I think that’s about right, whether it’s five years, six years,” he said when asked about the $1 million target.  “We’re going to go through two of these halving cycles, and just from what I know from all of the institutions, all of the people I speak to, there is an enormous wall of money coming into this.

Five Russian banks express interest in piloting digital ruble

The first pilots of Russia’s digital currency are expected to launch in H1 2021. A number of financial institutions in Russia have expressed interest in testing the country’s central bank digital currency, or CBDC. According to an Oct.

Ripple: 99% of Respondents Would Consider Using Digital Assets to Process Cross-Border Payments

Ripple’s third annual Blockchain in Payments report identified that blockchain adoption is key to successful growth strategies for financial institutions.

Fidelity makes it clear: Bitcoin volatility is worth the risk for institutions

A new report shares a number of notably bullish sentiments with regard to Bitcoin and the larger crypto industry. In a recently released report titled Bitcoin Investment Thesis, Fidelity Digital Assets demonstrated how portfolio managers could increase their returns by allocating a portion of their holdings to Bitcoin (BTC).

Aave Raises $25 Million to Bring DeFi to Institutions

Aave CEO Stani Kulechov says the investment will help Aave expand in Asian markets and “bring DeFi closer to institutional use.”  

SEC’s conservative approach to crypto needs to change- SEC’s Peirce

“Crypto Mom” Hester Peirce admits the SEC can be slow in giving guidance, but she sees the regulator becoming more open to change. Hester Peirce, commissioner for the United States Securities and Exchange Commission (SEC) affectionately known as “Crypto Mom,” says the regulator’s more conservative attitude around crypto needs to change as people become more interested in the space.  In a recent interview with Cointelegraph, Peirce said the crypto landscape is changing quickly. “While we’ve been very slow in giving guidance, there is more and more interest from a wide spectrum of people, both inside the crypto space as well as inside the traditional financial institutions who are asking us for guidance.

The true effect of Bitcoin FOMO hitting institutions

80% of institutional investors believe that the recent Coronavirus-led quantitative easing policies adopted by Central Banks and governments could lead to a rise in inflation.

Standard Chartered Wants to Hold More Crypto for Institutions

Three new job applications show the bank is looking to grow its crypto team and increase crypto assets under management.

BitMEX's actions likely to scare off mainstream institutions, former CBOE trader says

BitMEX not playing by the rules today means added regulatory consequences tomorrow. Cryptocurrency derivatives exchange BitMEX has not played ball by US regulatory rules, which hurts the crypto industry as a whole, according to David Carman, a former veteran Chicago Board Options Exchange trader.

The Top Universities for Blockchain – Methodology

CoinDesk's 2020 university rankings rate institutions from scholarly impact to employment outcomes.

World Regulators Worried About Cryptocurrencies Used In Illegal Activities

A report asking regulators and traditional financial institutions revealed that the majority still considers the crypto ecosystem too volatile and risky.

OFAC to Begin Sanctioning Companies Facilitating Ransomware Payments

The OFAC may begin sanctioning US nationals and institutions that help facilitate payments in a ransomware attack.

Governments, Financial Institutions See Crypto As A Tool For Financial Inclusion

Although still seen mostly as a tool for investment and speculation, crypto is likely to become an effective tool for financial inclusion in about five years from now, the majority of respondents in a new survey said. The survey - produced by organizations dedicated to tackling financial crimes, Association of Certified Anti-Money Laundering Specialists (ACAMS) and the

Ripple Matchmaking Effort Discovered, Featuring 170+ Financial Institutions – Is XRP Front and Center?

The San Francisco-based payments startup Ripple appears to be working to connect a long list of financial institutions through a digital matchmaking effort.

Is Bitcoin's mining pool concentration fuelling speculative price bubbles?

Every other story on Bitcoin’s price prediction or speculation is centered on the narrative that increasing investment from institutions and hedge funds will create value and fuel the price rally.

FinCEN director warns banks about cryptocurrency risk exposure

FinCEN has warned US banks that it is closely watching how they respond to crypto risk exposure with their AML programs. The US Financial Crimes Enforcement Network (FinCEN) director Kenneth Blanco has warned banks to think seriously about their cryptocurrency risk exposure. During the virtual 2020 ACAMS anti-money laundering Conference in Las Vegas this week, Blanco discussed the obligations of banks in implementing effective anti-money laundering (AML) policies. Current FinCEN regulations (FIN-2019-A003) state that it is the responsibility of all financial institutions to identify and report suspicious activity concerning how criminals and other bad actors exploit card verification checks for money laundering, sanctions evasion, and other illicit financing purposes.

The Standard About to Revolutionize Payments

Changing the standard way financial institutions communicate changes everything.

Law Decoded: Transformations in crypto exchanges and traditional institutions, Sept. 18-25

Maybe one day, drawing distinctions between crypto and traditional finance will seem quaint.

Mandatory KYC verification may contradict privacy laws in South Korea

Will this legal contradiction be resolved before the deadline? With the South Korean government preparing to implement know-your-customer (KYC) and anti-money laundering (AML) compliance processes, there is confusion among legal experts as to whether the requirements contradict other laws. According to Digital Today, the new requirements would contravene the existing Personal Information Protection Act, which stipulates that local companies cannot legally request social security numbers. The measure also cover financial institutions, however they can request it under exceptional circumstances, such as for major banking transactions. The Enforcement Decree of the Special Payment Act is expected to come into force in March 2021 and will require "virtual asset services providers" to confirm the real names of customers by verifying them against personal data such as social security numbers. One special note made by the Financial Information Analysis Institute addressed the current situation of the ambiguity in the upcoming AML-KYC bill on crypto exchanges.

Top Regulator Says US Banks Can Hold Stablecoin Reserves

The Office of the Comptroller of the Currency says that federally regulated banks can continue holding stablecoin reserves from institutions provided that some regulatory conditions are met.

BRD Is Breaking Into the Crypto Compliance Game

The new tech stack will provide AML and compliance tools for financial institutions, government agencies, and cryptocurrency service providers.

Uquid Launch the Defi Shopping Stake (DSS) and Defito Finance (DTO)

The trouble with many current DeFi projects is that while they eliminate traditional institutions from the mix, they instead transfer ultimate control over to a select group of insiders who have their financial motives and agendas.

New Bitcoin bull run? Whales and institutions accumulating, data shows

Data shows whales are not selling large amounts of Bitcoin at the current BTC price and institutions are accumulating BTC. As the price of Bitcoin (BTC) breaks past $11,100 on Sep.

Bank of England talks negative interest rates in best ‘ad’ for Bitcoin

Bitcoin hodlers could not ask for more, says Tone Vays as the UK central bank looks for protection against Brexit and coronavirus fallout. Bitcoin (BTC) is getting its best “advertisement” once more as another major central bank floats the idea of charging people to save their money. As Bloomberg reported quoting minutes of a meeting held Thursday, the Bank of England (BoE) has become the latest central bank to discuss negative interest rates. Negative rates “would drive BTC adoption” According to the results of the meeting, the BoE will enter discussions with banking regulators over negative rates, which effectively mean lending institutions, and, hence, savers must pay to store cash. The reason is the impact of the coronavirus lockdown on the economy, along with the looming prospect of Brexit, deal or no deal. “The bank is leaving all options on the table, due to elevated uncertainty,” one analyst told the publication in light of the news. The pound slid against major currencies Thursday, as policymakers further confirmed that they had voted to keep interest rates at 0.1% for the time being.  Bank of England balance sheet chart (GBP).

The Year So Far in Bitcoin World and How Investors Behave as Market Swings: An OKEx-Catallact Study

Cryptocurrencies, especially Bitcoin have received their fair share of attention this year, thanks to increasing interest in digital currencies among traditional financial institutions and the pandemic-driven economic slowdown affecting economies and markets.

FinCEN announces sweeping money laundering regulations overhaul

FinCEN is preparing to modernize its AML requirements for financial institutions to greater respond to the dynamic threats posed by “illicit finance.” The US Financial Crimes Enforcement Network (FinCEN) has announced it will be changing the anti-money laundering (AML) and counter-terrorist financing (CTF) rules within the financial sector. The announcement stated that FinCen will be seeking public feedback on forthcoming regulatory proposals intended to modernize and strengthen rules governing the reporting and monitoring requirements of financial institutions. The new policies seek to address “the evolving threats of illicit finance, such as money laundering, terrorist financing and related crimes” which suggests that crypto firms and exchanges will be firmly in the sights of the coming regulatory changes. They will also impact the compliance obligations of banks, credit unions, casinos, insurance companies, mutual funds, and dealers or brokers of futures, commodities, precious stones, and precious metals. The new AML regulations aim to identify and combat illicit financial activity through robust record-keeping and risk assessment requirements and the regulator hopes to tighten up the definition and requirements of an “effective and reasonably designed” AML program under the Bank Secrecy Act (BSA).

Institutions are betting big on Bitcoin, should you?

Bitcoin’s price has dropped 9% in the past month.

Monero Up On Major Compliance News, Zcash still down

Exploring an issue that continues to spur controversies in the more traditional circles of global finance, a new white paper by international law firm Perkins Coie claims that regulated financial institutions can ensure compliance with anti-money laundering (AML) obligations when supporting privacy tokens. "This 40-page report is the most comprehensive to-date on

Analysis Reveals Massive Spike in 5,000 to 10,000 BTC Transactions – Are Whales and Institutions Bullish on Bitcoin?

On-chain analysis suggests that the largest players in the industry known as whales came out of hibernation amid a surge in 5,000 to 10,000 BTC transactions.

Polkadot indicator? Data shows Ethereum price follows it to the DOT

Data shows Polkadot’s (DOT) price action is working as a predictor of Ethereum price moves for the past few weeks, what’s behind the trend? Market capitalization and ‘flippenings’ happen to be important reflections of value for many crypto pundits and investors. Anyone who’s been in the game since 2017 will recall the heated discussions revolving around the Ether (ETH) to Bitcoin (BTC) flippening and the same commotion was caused by Bitcoin Cash (BCH) and EOS flipping top blockchains as they moved into the top-5. Now traders’ attention has shifted to Polkadot (DOT) as the network is currently ranked top-5 cryptocurrency by market capitalization and it seems that its ascension to the top came out of the blue. The network aims to be a decentralized web where its users control applications, services, and institutions and contributors to the project include some well-known names like Ethereum co-founder Gavin Wood. Despite being listed at major exchanges less than 30 days ago, Polkadot token is mind-blowing even to professional traders.

Bitcoin Whales and Large-Scale Institutions “All-In” on Bitcoin During COVID-19, Retail Investors Are More Cautious

Coronavirus has led many investors to turn to Bitcoin as a hedge, but the way in which individual and institutional investors leverage the digital asset differ.

Breaking free from global liquidity silos: New technology changes the game

The institutional adoption of digital assets and DLT is a clear signal that a new model for trading, ready to break down liquidity silos, is emerging. Economists, pundits, institutions and investors often talk about the global financial system.

Former Ripple Executive Says Banks Need XRP After Global Settlement Platform Suffers Major Delay

A recent delay to an international bank-led payment settlement initiative is just more evidence that legacy financial institutions need to adopt XRP, according to a former Ripple executive.

Banks failing to identify up to 90% of suspicious crypto transactions

CipherTrace believes financial institutions are failing to identify up to 90% of suspicious transactions related to crypto assets Financial institutions worldwide have reported 134,500 suspicious transactions concerning virtual currencies in the past two years — but that’s just the tip of the iceberg according to a report published by blockchain forensics firm CipherTrace. The report says the Financial Crimes Enforcement Network (FinCEN) has seen a major increase in suspicious transaction reports from institutions since publishing its May 2019 Advisory on Illicit Activity Involving Convertible Virtual Currency (CVC). Despite this, CipherTrace asserts that many financial institutions have developed inadequate “home-grown” systems for identifying cryptocurrency-related accounts and transactions, that simply use lists of the names of crypto exchanges and virtual asset service providers (VASPs) to flag transfers associations with cryptocurrency. This strategy “results in many false positives and misses significant, large amounts of funds flows that cannot be discovered by home-grown name matching:” A typical name-based system may entirely miss up to 70% or more of the crypto exchanges out there, and up to 90% of the actual transaction volume The report asserts that few financial institutions screen for exchanges outside of the top 100.

Arca to Gnosis: Show Us a Turnaround Plan or Give Investors’ Money Back

In addition to wads of cash and the aura of respectability, institutions are bringing Wall Street’s activist investing strategies to crypto markets.

Fireblocks, X-Margin Partner to Offer Institutions Cross Margin Trading in Crypto Derivatives

The firms will leverage privacy enhancing zero-knowledge proof technology to enable institutional trading firms to cross margin and bilaterally trade derivatives from a single pool of collateral.

Quantum Cryptography Breakthrough Revealed As Team of Researchers Create Ultra Secure Network

A team of researchers from various educational institutions has made a breakthrough in the field of quantum cryptography after creating an ultra-secure network.

Why Are Chinese Banks so Keen to Lodge Blockchain Patents?

Chinese banks are becoming increasingly keen on registering blockchain-related patents – and experts said they believe that financial institutions are developing core technology that will see them build new business models in the years ahead. Per media outlet Mars Finance, state-owned commercial banking giants like the Industrial and Commercial Bank of China and the Bank of

Ripple Partners With 37 Universities Across 15 Countries via Crypto Research Initiative

Ripple’s University Blockchain Research Initiative (UBRI) is adding three more names to its list of partner institutions.

Don’t just blame DeFi for paying high ETH gas fees

How institutions store and secure digital assets have a fundamental impact on transaction fees. Transaction costs on the Ethereum blockchain are at record highs, and no one will let you forget it.

US warns of resurgence of North Korea’s BeagleBoyz hacking gang

It’s not a group of 1980s rappers, it’s North Korea’s second most notorious hacking gang. A group of North Korean hackers is engaged in a massive campaign targeting US financial institutions and cryptocurrency exchanges around the world — with US authorities warning of the high level of threat it poses to the country. According to an alert issued by the US Department of Homeland Security (DHS), agencies including the FBI, the US Cyber Command, and the Department of the Treasury are moinotiring the resurgence of the North Korea-sponsored hacking group, BeagleBoyz. The hackers have not been as active in the last few years as the notorious Lazarus Group – another hacking group from the hermit regime.

Mexico Finance Agency: Banks Biggest Money Laundering Threat

Criminals still prefer traditional financial institutions to launder their dirty proceeds, according to a new report from the Mexican Financial Intelligence Unit.

Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key Institutions

With sophisticated fraud schemes seemingly overwhelming the African crypto market, there is a growing need for players in the space to help fight this scourge.

Whitelist-only crypto withdrawals coming soon claims Ari Paul

A shift in the crypto ecosystem could result in a whitelist of coins and addresses according to Ari Paul. Crypto investor Ari Paul has predicted that within a year or two much of the crypto ecosystem will only allow withdrawals to whitelisted addresses. In a tweet on August 26, the BlockTower Capital co-founder and CIO Ari Paul forecast that there may also be a division between ‘clean’ coins that can be traced to regulated institutions and all others. 1/ Within a year or two, most crypto exchanges will probably only allow withdrawals to "whitelisted" addresses.

Institutions Have Never Been More Short on Bitcoin Futures Than They Are Now

Bitcoin has been surging higher over recent weeks and months.

Ripple Says 20% of All Transactions on Global Payments Network Utilize Crypto Asset XRP

Ripple says more than 20% of all transactions on its global network of financial institutions now use the blockchain startup’s native cryptocurrency XRP.

KuCoin Warns of Impersonator Website Offering Incentives to Deposit Crypto

Impersonation scams continue to permeate the cryptocurrency space. Cryptocurrency exchange KuCoin has issued a warning to users regarding a fraudulent website using its branding in an attempt to steal cryptocurrency. According to the report, posted Aug 19, the website is offering false incentives to entice users to deposit digital assets. It further clarifies that the web address “https://c.yrsm.net/app.php/MzI1” has no relationship to the KuCoin Group and is not authorized to use its trademark or other intellectual property. Reminding users to be particularly wary of this type of scam, KuCoin stated that it does not organize any activities outside of the official platforms (kucoin.com and kucoin.io) without official notification: “Under no circumstances [...] intend to disclose any deposit address and instruct users to transfer digital assets to the designated address.” Users who have transferred digital assets to any deposit address published on the fraudulent site are instructed to report this to the police or relevant authority as soon as possible in order to recover their losses. Scams whereby criminals impersonate figures or institutions within the cryptocurrency community in an attempt to purloin funds are unfortunately fairly common. One of the most notable recent such scams was last month’s notorious Twitter hack which took over several accounts on the social networking site requesting users to send Bitcoin (BTC) and receive double in return. Scammers have also been known to impersonate Cointelegraph journalists, offering positive coverage in return for cryptocurrency.

Bank of England Joins Key Roundtable on Central Bank Digital Currency Design

The Bank of England is keeping central bank digital currency research high on its 2020 agenda. The Bank of England will take part in a key meeting tomorrow to discuss central bank digital currencies (CBDCs) and their possible infrastructural designs.  Hosted by global central banking think tank, the Official Monetary and Financial Institutions Forum (OMFIF), on Aug.

California Crypto Bill Seeks to Measure the Consumer Impact of Digital Assets

California’s Senate Banking and Financial Institutions Committee has unanimously passed Assembly Bill 2150 which will help define digital assets as well as to measure its potential impact on the state and consumers (Read More)

California Moves Forward With Digital Asset Bill

Originally seeking to define digital assets, the bill now orders for a study to look at the impact of digital assets if these were securities. California’s Senate Banking and Financial Institutions committee has passed a bill seeking to define digital assets and measure its impact on the state and consumer protections.  Assembly Bill 2150, which can potentially influence how federal regulators approach digital assets, unanimously passed the Senate’s Banking and Financial Institutions committee.

The Blockchain Paradox: Decentralization Through Centralized Institutions

Institutional adoption of blockchain can offer great benefits, as truly decentralized control often comes from the roots of centralization. The power of blockchain technology to decentralize control of our financial economy is well documented.

Price Analysis 8/14: BTC, ETH, XRP, LINK, BCH, BSV, LTC, ADA, BNB, CRO

Traders have turned bullish on Ethereum again and the strong break above $400 could pull Bitcoin and other altcoins higher. Data from Grayscale Investments shows that the firm’s assets under management soared from about $1.9 billion at the end of 2019 to over $3.5 billion by the end of June 30, 2020.  The correction in the US dollar (DXY) and the possibility of further weakness due to continued money printing by the US Federal Reserve could be one of the main reasons for the surge in institutions investing in Bitcoin (BTC).  Interestingly, about 40% of the Bitcoin accumulated over the past two years has not been moved, which suggests that investors are “HODLing” their purchases as they anticipate higher levels in the future. Daily cryptocurrency market performance.

Thailand’s Central Bank Eyes DeFi Use Cases for Its Digital Baht

Thailand’s central bank assesses the chances of bringing centralized and decentralized together. Thailand’s central bank is looking at smart contracts and decentralized finance (DeFi) implementations for its national digital currency, the digital baht. Vijak Sethaput, senior developer for the Bank of Thailand’s (BoT) central bank digital currency project Inthanon, discussed the country’s CBDC progress in an interview hosted by a global think tank for central banking, the Official Monetary and Financial Institutions Forum, on Aug.

IBM Executive Reveals Plans to Help Banks Capitalize on DeFi

IBM could teach banks a thing or two about DeFi. In a Cointelegraph interview, director of IBM financial services and digital assets, Nitin Gaur, shared how the technology company is helping financial institutions to capitalize on the DeFi movement. Gaur — the author of Blockchain for Business — says it is essential that banks understand and embrace DeFi space.

Following OCC Letter, Some US Banks Appear Open to Providing Crypto Services

Nationally regulated banks want the OCC to clarify just how and when they can provide cryptocurrency services, hinting traditional financial institutions are paying close attention to the space.

Researchers Find Bugs that Could Expose Crypto Wallets on Exchanges

Security experts said they have unveiled a number of vulnerabilities in the open-source libraries used by numerous crypto exchanges and financial institutions – which could be exploited by hackers looking for a way into users’ wallets. At a recent Black Hat cybersecurity conference, experts said that some of the issues that affected exchanges have now been fixed –

Nasdaq-Listed Company Sued for Backing $2 Billion Loans With 83 Tons of Fake Gold

The Nasdaq-listed company that allegedly used 83 tons of fake gold bars as collateral to secure loans worth about $2 billion from multiple financial institutions in China is now in default and facing several class-action lawsuits.

Cryptocurrency Cards: An Unnecessary Solution That Should Be Stopped

It is high time for traditional financial institutions to see that the crypto industry has matured enough and does not possess high risks. Crypto cards have become a must-have for many crypto services.

Financial Services Provider to Coinbase Teams With Circle to Offer EU Institutions Stablecoin Payments

BCB Group will integrate with Circle's platform in a bid to make the USDC stablecoin more widely available.

Goldman Sachs Sees ‘Resurgence of Interest’ in Crypto from Institutions

There is currently a “resurgence of interest” in cryptocurrencies, but this time around it’s not from retail investors, but rather the financial institutions, the new head of digital assets at investment banking giant Goldman Sachs revealed in a recent interview. Mathew McDermott, the recently appointed head of digital assets at the investment bank, told CNBC that the bank

XRP Jumps As Ripple Sees Stronger Demand From Institutions

Source: Adobe/Тихон Купревич After a decline in its sales of XRP tokens in the first quarter of the year, the California-based fintech firm Ripple sold more in the second quarter thanks to demand from institutional buyers.

Google Pay bank accounts coming in 2021 with six new partners

Banks look to big tech to court new customers, and the list of institutions just got a whole lot larger today.

Electric Capital’s New $110M VC Fund Is 90% Institutions

Crypto VC firm Electric Capital has closed its second fund at $110 million.

Exclusive: Fidelity Digital Assets Explains the Core Concerns Traditional Institutions Still Have Towards Cryptocurrencies

Blockchain.News spoke with Christine Sandler, the Head of Sales and Marketing at Fidelity Digital Assets to understand more about the concerns institutional investors may have and the barriers to entry to the cryptocurrency market.

Maturity of the Crypto Derivatives Market Attracting More Institutional Investors

Bybit exchange’s CEO believes maturity of the crypto derivatives market plays an important role in attracting more institutional investors. In a Cointelegraph China Great Bay Area International Blockchain Week pre-event interview on July 29, Ben Zhou, CEO of derivative exchange Bybit, argued that the maturity of the derivatives market is the main reason for institutions to enter the crypto space.  Biggest concerns for institutional investors   Zhou says that the biggest concern for any institution exploring crypto is the need for proper financial tools to run risk management.

Dubai Debuts Nationwide Data Platform Powered by Blockchain

The United Arab Emirates is debuting a blockchain-based Know Your Customer, or KYC, platform. This platform is set to become a nationwide system for exchanging verified customer data. Dubai’s Department of Economic Development, or DED, and state-run bank Emirates NBD are rolling out their so-called UAE KYC Blockchain Platform. 120 local firms already signed up for the platform with Emirates NBD First revealed in February 2020, the new blockchain platform is designed to unlock digital customer onboarding, instant bank account functions, and verified KYC data sharing between licensing authorities and financial institutions.

Dubai Economy Gets Powered by UAE KYC Blockchain Platform for Safe Digital Customer Onboarding

The Dubai economy has gone live on the UAE KYC (Know-Your-Customer) blockchain platform making instant bank accounting functionality, secure digital customer onboarding, and sharing of verified data between financial institutions and licensing authorities possible.

Synthetix Founder: DeFi Makes Legacy Fintech Obsolete

The founder of Synthetix believes that the DeFi ecosystem is realizing many of the promises that the fintech sector has failed to deliver. Kain Warwick, founder of DeFi derivatives platform Synthetix, argues that projects built on Ethereum can finally deliver on many of the promises that fintech failed to. Despite ten years of development, Warwick said the fintech sector has been hamstrung by “trying to build overlays for the legacy infrastructure.”  They faced issues with a lack of interoperability between the “siloed” systems of financial institutions, regulatory barriers to innovation, and the vast expenses associated with mainstream compliance regimes.

Mastercard Exec Accused of Money Laundering Cover-Up at Bank With Ties to Wirecard

Wirecard has been implicated in a new report on alleged criminal activities by a Mastercard executive operating at the FBME bank in Cyprus. Controversial German payments processor Wirecard — the issuer of several crypto debit cards — has been implicated in a new report on alleged criminal activities by a Mastercard executive operating at the troubled FBME bank in Cyprus. In 2014, the United States’ Financial Crime Enforcement Network had banned US financial institutions from dealing with FBME after the bank was accused of being used to “facilitate money laundering, terrorist financing, transnational organized crime, fraud, sanctions evasion and other illicit activity.”  The allegations included facilitiating the processing of money tied to the Syrian chemical weapons’ program and internet child sex abuse, according to a July 27 report from The Times. FBME’s purported ties to Wirecard  FBME is reported to have ties to Wirecard via an unnamed key client, which has itself recently become mired in its own scandal after being unable to account for a missing $2.1 billion in cash on the company books.  The uncovering of the missing funds spurred Wirecard to file for insolvency and resulted in the arrest of the firm's CEO, Markus Braun, in Germany.

Mainstream Institutions No Longer Have Regulatory Reasons to Fear Crypto

Institutions on the fence about crypto involvement may no longer fear legal uncertainty, given recent crypto custody regulatory clarity. Recent regulatory transparency provided by US banking regulator, the Office of the Comptroller of the Currency, or OCC, may give interested institutions the confidence to enter the crypto industry. “For those of us who have been building up this ecosystem for years, it’s hugely validating of those efforts,” Diogo Monica, president of crypto custody service Anchorage, told Cointelegraph on July 23, referring to the OCC’s actions. He added: “But the real significance here is for the kinds of institutional players who may have been sitting on the sidelines in the absence of clear regulatory guidance.

BTCS Crypto Portfolio Expands Over 280% in Q2 2020 Amid COVID-19 Pandemic

While many institutions struggled to recover from the market downturn experienced in March, publicly traded, blockchain focused firm BTCS Inc.

Banks Won’t Rush to Hold Crypto – But OCC’s Regulatory Approval Makes It Harder to Ignore

Regulatory approval doesn't mean banks are about to begin providing crypto custody, but it is accelerating a conversation about financial institutions safeguarding bitcoin.

Microsoft and Finastra Open Cloud Solution to Exponentially Accelerate Innovation for 8,500 Banks and Institutions

Finastra and Microsoft Corp have announced a strategic, multiyear cloud agreement to help accelerate the digital transformation of financial services and help realise and open source future for finance.

In COVID-19’s Wake, the New Normal Creates Crypto Opportunities

In a global economic recession, individuals and institutions have been turning away from traditional assets and seeking opportunities in cryptocurrency. The COVID-19 pandemic has been a challenge for everyone, but it has created many opportunities for us in the blockchain industry.

Crypto Tidbits: Twitter’s “Bitcoin Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH

Another week, another round of Crypto Tidbits.

Institutions are Pouring $57.8M into Bitcoin Each Week, New Report Reveals

Bitcoin’s price has been stagnant for the past few months, but this hasn’t stopped institutions from pouring money into the benchmark digital asset.

Top Spanish Banks Finalize Trial of Payments Using Smart Contracts

Five major Spanish banking institutions have completed a proof-of-concept for payments using smart contracts. Multinational banking giant Banco Santander and four Spanish banks have successfully finalized a proof-of-concept for payments using smart contracts. The PoC was coordinated with IberPay, the company that oversees the Spanish Payment System. Trial confirms blockchain’s feasibility for payments In a statement on July 15, IberPay said the PoC had “confirmed the feasibility of applying blockchain technology to the field of payments" and its successful connection to the national payment system. Using smart contracts automates the execution and settlement of payments once certain pre-conditions are met. Alongside IberPay and Banco Santander, the four banks involved were Banco Sabadell — Spain’s fifth-largest banking group — BBVA, Bankia and Caixabank.  Grant Thornton provided consultancy services to IberPay in testing the PoC using an interbank blockchain network with seven operating nodes and successfully executing over 20,000 automated immediate transactions. The average processing time per completed payment was reportedly 2.5 seconds, fostering confidence in its applicability to the real world. IberPay has said the PoC functioned “with the maximal guarantees of security, efficiency, traceability and integrity, as well as compliance with current regulations.” Santander’s previous use of blockchain technology As reported, Banco Santander has been a forerunner in testing and implementing blockchain technology for financial services, last winter redeeming a $20 million bond using the public Ethereum blockchain. Santander had issued its first end-to-end blockchain bond using the public network in September 2019.  The bank has also integrated Ripple’s xCurrent technology into its global payments services for retail clients, most recently announcing plans to extend the services to Latin America.

Crypto Custodian Curv Is Helping Institutions Dabble in DeFi With Compound Integration

Custody startup Curv is using Compound, the leading lending protocol in DeFi, to help institutions earn interest on idle crypto.

New Grayscale Report: Digital Assets Fund Adds $905M in Record Quarter

Grayscale Investments Q2 report shows a record $905 million inflow as institutions continue to move into Bitcoin, Ethereum and other digital assets. Grayscale Investments has just released its quarterly report which shows that institutional demand for Bitcoin and other digital assets is still on the rise despite the lack of action from Bitcoin price (BTC).

Grayscale Says Institutions Invested Record $900M in Crypto Products in Q2

Two consecutive record quarters for Grayscale mean cumulative capital inflows have doubled in the past six months to $2.6 billion.

Bitcoin driven by institutions will not help price

Since Bitcoin began entering mainstream finance there was always anticipation around 'when will the institutions arrive?' Motivation was merely price-centered, and the logic for the same went somethin The post Bitcoin driven by institutions will not help price appeared first on AMBCrypto.

Key Metrics Show Institutional Interest in Crypto Is High and Rising

As institutions flock to crypto, here are the fundamental metrics that can be used to track their interest. The growth of the crypto derivatives market in 2020 has been a story of its own, mainly driven by Bitcoin (BTC) and Ether (ETH) options traded on exchanges such as the Chicago Mercantile Exchange, Deribit, OKEx, Binance and Houbi.  Record Bitcoin options volumes are indicative of an increasing institutional interest in crypto, but there are better quantitative and qualitative indicators to use, such as open interest, Bitcoin’s price, frequency of block trades, institutional Know Your Customer processes and others. Compared with traditional derivatives, the proportion of institutional investors in the entire pool is still small, but it is clear that the definitive rise in interest is driven by financial instruments such as options and futures.

Bitcoin-Focused Investors Missing Out on ‘Mini Altcoin Boom’ - Head Trader

Despite bitcoin (BTC) being the focus of most financial institutions that are dipping their toe in crypto, the altcoin market is where the action really happens, according to a head trader at New York-based crypto trading firm GSR. Speaking with Bloomberg Radio, Richard Rosenblum, Co-founder and Co-head of trading at GSR, said that he believes there is a “mini altcoin

London Stock Exchange Parent Assigns Financial ‘Bar Codes’ to 169 Cryptos

The addition of bitcoin and its ilk to LSEG's database, in response to customer demand, is a sign that institutions are slowly embracing the asset class.

Tata Consultancy Launches Crypto Trading Solution for India’s Financial Firms

India's crypto renaissance continues, with Tata Consultancy unveiling a solution allowing banks and financial institutions to offer digital asset trading.

Hong Kong’s National Security Law Could Threaten Local Crypto Brokerages

The US sanctions on financial institutions in Hong Kong could put the city’s growing crypto brokerage businesses in jeopardy.

Institutions Will Drive Mass Adoption of Blockchain in Finance, Says Expert

Blockchain experts discuss how institutions will play a major role in the mass adoption of blockchain-based financial infrastructure. Benjamin Soh, founder of blockchain development firm STACS, said that institutional players, not business-to-consumer companies, will drive the mass adoption of financial infrastructure built on blockchain technology.  During the Unitize virtual conference, Soh said that if they could bring bank institutions to use the blockchain, millions of bank customers will automatically be a part of the blockchain finance infrastructure without them even knowing. Providing bank customers with a blockchain-based wallet while still using the traditional payment gateways will be the necessary first step towards bringing the efficiencies of distributed ledger technology to the financial system, Soh added. Asia is leading in blockchain finance Speaking about the development of blockchain-based finance in Singapore, Soh noted that except for Switzerland, there are hardly any other European countries that are as supportive of blockchain finance as Singapore.  According to Soh, Singapore is the closest to fully replacing the current financial infrastructure with one based on distributed ledger technology. He also highlighted that the governments of other Asian countries like Malaysia, Thailand, China, Japan, and South Korea were taking strong initiatives to bring distributed ledger technology into finance.  Reflecting on a similar point, Vinay Mohan, one of the early members of ConsenSys Singapore, said that the more SMEs and retail users gain access to democratized finance, the more mature Asia’s financial infrastructure will become.  Mohan stated that due to the complex nature of current banking infrastructure, 70% of South-East Asian SMEs struggle with proper digital financial services and the advent of blockchain and central bank digital currencies may pave the way to deliver banking services to those Asian businesses and

Indian IT Giant TCS to Help Financial Institutions Offer Cryptocurrency Trading

Indian IT giant Tata Consultancy Services announced its foray into the field of cryptocurrencies through a new solution.

Bitcoin Futures Premium Shows That Institutions are Bullish on BTC

Bitcoin futures have seen a rising premium over spot BTC in recent months, which seems to indicate that traders are bullish on the benchmark cryptocurrency.

Binance Donates $70k of PPE Equipment to Hospitals in the Philippines

Binance Charity (BC) has donated $70k worth of personal protective equipment (PPE) to eighteen hospitals and government institutions in the Philippines.

Major Indian Farmer Producer Organization to Use Blockchain for Supply Chains

One of India’s largest farmer producer organizations plans to use blockchain to help farmers receive higher pay. One of India’s largest farm producer organizations (FPO), Sahyadri Farmers Producer Co, is integrating blockchain into its business process. FPOs are member-based institutions of farmers that are the result of a government-led initiative.  The organizations help fars sell agricultural produce at the most advantageous prices.  Local news outlet The Hindu Business Line reported that Sahyadri will use blockchain for its supply chains to increase efficiency and transparency in the traceability of food products. A win-win for customers and farmers The founder of Sahyadri, Vivek Shinde, said that in the present scenario, farmers get only 25% of the final price of sold goods.

Record Bitcoin Options Market Volume Shows Institutions Keen on Crypto

Record surges in regulated Bitcoin options market volume signals increasing interest and participation from institutional investors. A CryptoCompare report published on July 6 has closely analyzed monthly trends in the cryptocurrency exchange market and found that crypto derivatives volumes have begun to taper off after peaking this May.