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Concludes the Merger of Bitcoin Deutschland AG With Futurum Bank AG in Germany’s First Crypto Bank

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Bitcoin Group SE concludes merger of Bitcoin Deutschland AG with Futurum bank AG in Germany's first crypto bank.

- Merger of Bitcoin Deutschland AG with Futurum bank AG registered in the commercial register

- Combined entity to operate under the name of Futurum bank AG

- Encryption and custody under the aegis of the Futurum bank AG from a single source


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Ripple Technology Outperforms Banks in Many Sectors, says Boston Consulting Group report

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  • A new report by the Boston Consulting Group describes that payment providers like Ripple outnumber banks in many industries.
  • Banks must develop new technologies to keep up with the latest advances.

Cryptocurrencies have become an integral part of today's financial market and are in direct competition with traditional payment providers such as banks or world-renowned payment networks such as SWIFT or Mastercard. According to a new report by the Boston Consulting Group (BCG), banks should develop strongly, otherwise, new young talent in the sector, such as Ripple, will surpass them.


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Is a Digital Currency in Euro a Realistic Goal?

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Key points

  • Facebook's plan to launch its own digital currency "Libra" has also increased the stakes for global central banks
  • The ECB said this new form of currency will allow fast, easy and secure payments
  • Sweden's Riksbank, the National Bank of Switzerland and the People's Bank of China have seriously considered the formation of their own digital currencies
  • The European Central Bank (ECB) said this year that it can seek to develop a "digital euro" currency and make it accessible to all citizens and businesses, creating many benefits and risks.

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Tether Opens 300,000,000 USDT

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Tether's Treasury has coined an incredible 300 million USDT.

Tether, the most valuable stable currency by market value, has become a household name in the rapidly changing crypto market.

The latest development is that Tether's treasure has coined an incredible 300 million USDT, as seen in Whale Alert, an advanced blockchain tracker and analytics firm.


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CFTC Issues Digital Currency Guidance to Futures Commission Traders

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The Commodity Futures Trading Commission (CFTC) has issued a warning to futures commission (FCM) traders, providing clarity on how to take care of users' digital currencies in segregated accounts.

  • According to a press release on Wednesday from the CFTC's Swap And Intermediate Supervision Trading Division, the consultancy informs FCMs on how to maintain and report certain digital assets held by clients in connection with physically delivered futures contracts or swaps.
  • A segregated account means that the client's funds are strictly separate from the company's money.
  • The CFTC noted that keeping client assets as segregated funds can allow greater risks to arise for other clients under the same banner.
  • Financial watchdog consulting also provides guidance on the best practices FCMs should follow when designing and maintaining risk management programs when dealing with digital assets such as client funds.
  • The consultancy does not refer to the custody of digital assets of foreign FCMs of client assets in relation to futures or futures options trading.
  • CFTC Division Director Joshua B. Sterling said in a statement that the commission is "committed to promoting responsible fintech innovation" as it works to create a "holistic framework for digital asset derivatives."

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Are Bitcoin Casinos The Future of Online Gambling?

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Bitcoin has been here for over ten years. When it was first "invented" in 2009, it was more of an underground "currency" than formal digital money. At that time, only a few enthusiasts were playing with it, and it had almost no value. One Bitcoin user in 2011 even put 10,000 pieces of BTC at auction for only $60 - but no one bought it. The first real-world purchase of Bitcoin was for a pizza in exchange for 10,000 BTC.

Now, Bitcoin is widely used by many people and is even regarded by many as the "digital gold" of this era. No longer an ignored form of digital currency, it is now widely used in many things: shopping, trading and online investments, online gambling through Bitcoin casinos and many other things.


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Billion-dollar Companies are Adopting DeFi to Improve Existing Services

DeFi

A new study has shown that traditional financial firms are exploring the use of decentralized finance (DeFi) to improve their existing services and create new revenue streams.

The study, conducted by Crypto.com and BCG Platinion, was first identified by CryptoBriefing and surveyed more than 400 financial firms in various sectors, including banking, insurance and commerce. The research focused on the challenges and opportunities associated with the adoption of DeFi.


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Crypto Bank Increases Deposits to an Impressive 40%

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  • The bank's earnings report shows that deposits increased 8% in the third quarter
  • The subscription bank continues to win crypto customers in 2020

Signature Bank, a challenging bank based in New York, achieved a 40% increase in deposits, 8% of which were obtained in the last quarter. As previously reported, crypto bank's blockchain push, introducing the first Stablecoin (fiat-indexed) in 2019, prompted JP Morgan Chase and Goldman Sachs to revise their own digital proposals.


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The Bahamas Launches its Digital Currency at The Central Bank

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Project Sand is a digital simulacrum of the Bahamas Dollar.

In short,

  • Project Sand, the digital currency of the Central Bank of the Bahamas, was launched today.
  • It is used for domestic transactions.
  • It uses distributed ledger technology but is not similar to Bitcoin.
  • The Central Bank of the Bahamas today launched its own blockchain-based central bank (CBDC) digital currency, making it one of the first countries in the world to do so.

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Has The U.S. Government Just Agreed to Start Financing a Cryptocurrency?

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While there is nothing official yet, a US digital dollar has become a legitimate discussion in cryptocurrency, to supplement the money.

In a historic move, Federal Reserve Chairman Jerome Powell said on Monday that the Fed is open to collaboration with private companies in creating a U.S. digital dollar. Could this be an official cryptocurrency?

Not yet. While Powell was sure the United States government was not committed to launching a cryptocurrency, he took note of projects such as Facebook's Libra, which prompted banks to take a closer look at the digital currency space. The President of the Federal Reserve also pointed out that there are issues and issues related to monetary policy, including monetary policy limitations. He also mentioned that cybernetics and illegal activities should be a concern.


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