BNP Paribas Partners with Metaco to Enter Crypto Custody Space
French international banking group BNP Paribas is exploring crypto custody through a partnership with Swiss institutional digital asset custody firm Metaco.
Citi has issued a report about bitcoin that stated the digital currency could surpass traditional payment services in the next years.
French international banking group BNP Paribas is exploring crypto custody through a partnership with Swiss institutional digital asset custody firm Metaco.
Hivemind Capital also unveiled that it has tapped Layer-1 blockchain protocol, Algorand as its first technology partner.
With the current solution, it is possible to envision European Commission’s plan to commence establishing a collaborative, mainstream EU-wide system for withholding tax relief at source.
Citigroup Inc (NYSE: C) CEO Michael Corbat recently revealed that the bank has been partnering with central banks globally to build Central Bank Digital Currencies.
Citibank executive noted that Bitcoin is going through a similar period to that of Gold in the 1970s and expects a potential breakout next year.
In a recent market rally, bank stocks were the biggest winners. But as investors are worried about the uncertainty around how much the economic decline will affect loans, bank stocks will not rebound as fast as shares of other sectors.
Under the given conditions, Bitcoin continues gaining traction, therefore, Google, Apple, and Facebook need to find new revenue streams.
Wells Fargo’s net income made up $653 million. Its diluted earnings per share (EPS) is just $0.01, while analysts predicted earnings of $0.33 per share. Wells Fargo also failed to surpass the $12.3 billion net interest income in the year-earlier period. This time, it totaled $11.3 billion.
According to some estimates, the oil industry owes at least $200 billion to lenders, with the loans backed by oil and gas reserves. Many companies will not be able to pay off. Therefore, banks will manage their assets until the situation improves.
Robinhood has announced a voluntary withdrawal of its application for a bank charter, to become a proper bank in the U.S.