Moody’s Believes CBDCs Threat Bank’s Profits
Moody’s believes the introduction of cross-border transaction technology related to CBDCs could be detrimental to banks as the new infrastructure would reduce their role significantly.
Banks
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Circle Partners with Xapo Bank to Bypass SWIFT
Xapo Bank has partnered with financial technology company Circle to introduce USD Coin (USDC) payment rails as an alternative to SWIFT.
US Excongressman Believes Regulators Let Banks Know Cryptocurrencies Are Toxic
Signature Bank was reportedly able to resolve their outflow of deposits by the time the New York state regulator had chosen to close the financial institution.
HSBC Takes Ove Silicon Valley Bank’s British Arm
HSBC has announced it has acquired the British “daughter” of Silicon Valley Bank for £1 ($1.21).
Banks Have Changed Their Attitude Towards Crypto Due to Regulators’ Pressure
Banks have stopped cooperating with crypto firms due to fears of reprisals from regulators.
The National Australia Bank is Developing its Own Stablecoin
Banking group National Australia Bank (NAB) has announced that it is currently developing a secured stablecoin AUDN.
Mexico Puts Off Launch of its National Digital Currency
The Central bank of Mexico, Banxico, has said that the development of the country’s CBDC is still in the initial phase and unlikely to meet its 2024 launch date.