Commerzbank Obtains Crypto Custody License in Germany
Commerzbank applied for a crypto custody business license with BaFin back in April 2022. It has become the first bank to win approval in Germany.
Thirteen top banks, including Citi, Bank of America and Deutsche Bank, have joined a consortium led by financial tech firm R3 that is developing blockchain technology for the financial industry.
Commerzbank applied for a crypto custody business license with BaFin back in April 2022. It has become the first bank to win approval in Germany.
According to BaFin, there are at least 25 applications for the license pending. So far, only four companies in Germany have received approval for crypto custody.
Fingers are crossed in the expectation of earnings results from major banking giants in the US.
N26 is competing established banks by introducing app-based checking accounts without the need to pay any additional fees.
As the oil price continues to dip following the effect of the coronavirus and the U.S. elections this week, many experts expect OPEC and its allied bodies to make policy moves to help prevent the complete market collapse.
eToro detailed that the rewards will be distributed among the users every month in supported cryptocurrencies for the previous month’s staking.
EY subsidiary in Germany has been Wirecard’s trusted auditor and with KfW accounting records under scrutiny by the German government the bank has indicated its readiness to drop EY in order to avoid conflict of interest.
Embattled payment service company Wirecard (WDI) is set to be ousted from the DAX index following the company’s declaration of insolvency.
R3 has conducted a milestone test of a trade finance offering powered by blockchain which took place on its Corda platform.
SMBC is planning to use R3 and TradeIX’s Marco Polo platform to handle a trade transaction towards the end of the year.