Second-largest Thai bank creates $100-million AI fund
The fund, named KXVC, will target AI, Web3, and Deep Tech startups with a focus on the Asia-Pacific region. Go to Source
Banks
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CBDCs will gradually displace private banks, says Russian lawmaker
Some Russian banks have been increasingly concerned about the potential implications of the digital ruble after the first pilots started in August. Go to Source
South Korean Hana Bank enters crypto custody business with BitGo
KEB Hana Bank and BitGo plan to launch a joint cryptocurrency custody venture in the second half of 2024. Go to Source
Federal Reserve issues enforcement action against FTX-linked US bank
Moonstone Bank, which was since renamed Farmington State Bank, received roughly $11.5 from FTX’s sister firm Alameda Research through its holding company in 2022. Go to Source
Colombia central bank recommends limiting CBDC holdings and spending
Setting limits on CBDC transactions could be beneficial to issues related to user privacy and security, according to the central bank of Colombia. Go to Source
US bank reveals $170M in crypto holdings: Q2 earnings report
Sofi started offering crypto services even before it became a bank and its banking license might change the way it hodl crypto. Go to Source
Kansas Heartland Tri-State Bank closed by FDIC as banking crisis deepens
Heartland Tri-State Bank of Elkhart was closed on July 29, with the Federal Deposit Insurance Corporation (FDIC) taking control. Go to Source Powered by WPeMatico
Crypto Biz: Elon Musk’s X targets financial services, PacWest emergency rescue and more
This week’s Crypto Biz explores Elon Musk’s plans for X, the Italian central bank’s take on DeFi, PacWest’s merger with Banc of California and more. Go to Source Powered by WPeMatico
Canada proposes new capital rules for crypto holdings
The Office of the Superintendent of Financial Institutions (OSFI) is opening public consultations on two draft guidelines updating its capital and liquidity approach to crypto assets. Go to Source Powered by WPeMatico
Existential threat? Why some banks are anxious about CBDCs
The prospect of a retail CBDC has some major banks anxious over their revenue streams. Go to Source Powered by WPeMatico
