NBH Bank and New York Community Bank have conducted the first USDF transaction over the Provenance Blockchain. NBH Bank minted the newly introduced stablecoin and sent it to a customer of New York Community Bank as part of a test run.USDF is a stablecoin offered by the USDF Consortium, a group of FDIC-backed banks that announced its formation last week. “We expect our … [Read more...] about FDIC-Backed Banks Send Stablecoins in USDF First
Banks
Central Banks Are Best Sources of Trust in Money in a Digital Age
Central banks are the key institutions for providing trust, and alternatives have often ended badly, he said. He was speaking at Goethe University’s Institute for Law and Finance (ILF) conference on “Data, Digitalization, the New Finance and Central Bank Digital Currencies: The Future of Banking and Money" on Tuesday. Source link … [Read more...] about Central Banks Are Best Sources of Trust in Money in a Digital Age
EY advises banks to ‘prepare for what’s coming’
Big Four accounting firm EY has recommended that banks should change their regulatory perimeter to address the oncoming launches of state-backed central bank digital currencies (CBDC) and private stablecoins. EY’s 2022 Global regulatory outlook highlighted the need for a policy change that can help financial services firms overcome business uncertainties amid mainstreaming of … [Read more...] about EY advises banks to ‘prepare for what’s coming’
US Banks Form Group to Offer USDF Stablecoin
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.@2021 … [Read more...] about US Banks Form Group to Offer USDF Stablecoin
13 Years On, the Meaning of ‘Chancellor on the Brink of Second Bailout for Banks’
This episode is sponsored by Nexo, Abra and FTX US.Download this episodeThirteen years ago today, Satoshi released the Bitcoin genesis block - block 0. Embedded in it was a quote, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” In today’s episode, NLW explores the meaning and historical context of the inclusion.Join the discussion: … [Read more...] about 13 Years On, the Meaning of ‘Chancellor on the Brink of Second Bailout for Banks’