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UAE central bank rolls out CBDC strategy

0xMain
March 24, 2023

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The Central Bank of the United Arab Emirates (CBUAE) has released its CBDC strategy. R3 and G42 Cloud have been chosen as the infrastructure and technology providers, with the first phase of the CBDC implementation expected to be completed within the next 15...

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Xapo Bank enables USD Coin (USDC) deposits and withdrawals

0xMain
March 23, 2023

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Xapo Bank has announced that its members can now directly deposit and withdraw their USDC stablecoins on its regulated banking platform, enabling them to bypass the time and cost inefficiencies of the SWIFT payment system. USDC deposits and withdrawals now live on Xapo ...

Caitlin Long says bitcoin works as insurance amid ongoing bank runs

0xMain
March 21, 2023

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Caitlin Long, the CEO of Custodia bank, said in a recent interview with CNBC that investing in bitcoin (BTC) is an insurance policy given its incredible performance amidst an ongoing bank crisis. In the interview, Long said that although she could not make...

BitMex founder gives Fed advice on defeating bank crisis

0xMain
March 20, 2023

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In a series of tweets, Arthur Hayes, one of the co-founders of the BitMex exchange, discussed using swap lines’ as a possible solution for the Fed to provide liquidity to financial institutions without provoking s political controversy. Hayes claimed that it is politically...

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Signature Bank to return crypto deposits to customers directly

0xMain
March 20, 2023

Bank, Crypto, customers, deposits, Hacking, return, Signature

On March 20, 2023, the Federal Deposit Insurance Corp. announced that Signature Bank’s related deposits would be returned directly to the customers, contrary to the notion that the New York Community Bancorp would handle them. The Federal Deposit Insurance Corp. said that Signature’s...

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Bitcoin rallies above $27,000 amid US banking crisis, Silicon Valley Bank drama unfolds

0xMain
March 19, 2023

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This week, Bitcoin’s (BTC) upward surge was the most significant event. The coin rose above $27,000 amid a banking crisis in the United States. The situation reiterated the need for users to hedge against economic instabilities using digital assets. In the mid of...

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Crypto-friendly bank offers to rescue Credit Suisse

0xMain
March 19, 2023

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UBS Group AG, a crypto friendly bank, is reportedly offering to purchase Credit Suisse, a global investment bank, for up to $1b, per details on Mar. 19 . UBS to the rescue The UBS offer comes after BlackRock rejected claims to a deal to salvage...

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Turkish bank wants to take control of Stablex, a crypto trading platform

0xMain
March 18, 2023

Bank, control, Crypto, Hacking, platform, Stablex, trading, Turkish

Ak Investment, one of Akbank’s wholly owned subsidiaries, has officially applied to partner with Stablex, a crypto exchange. Akbank’s interest in crypto Ak Investment owns 100% of the company shares. Their recent partnership with Binance cemented its exploration and interests in crypto as the duo...

FDIC insists buyer of Signature Bank drop crypto operations

0xMain
March 16, 2023

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The federal deposit insurance corporation (FDIC) has demanded that the prospective buyer of New York-based Signature Bank relinquish all cryptocurrency operations, highlighting growing regulatory concerns around digital assets. The federal deposit insurance corporation (FDIC), a U.S. government agency responsible for protecting depositors, is...

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Signature bank was under criminal investigation ahead of closure

0xMain
March 15, 2023

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The US prosecutors were looking into Signature Bank’s dealings with crypto clients when regulators abruptly shut down the institution on March 12. The regulators said that keeping the bank open would pose a threat to the stability of the entire financial system. The...