Transak becomes first US crypto on-ramp to enable wire transfers
Wire transfers in the world’s largest economy could attract more high-net-worth individuals to crypto. Go to Source
wire transfers
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Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire emphasized. Crypto Firms Scramble for … Read more
Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch The ripple effect of the 16th largest bank in … Read more
Report: Hong Kong Residents Lost More Than $216 Million to Crypto Scams in 2022
According to Hong Kong police, in 2022 there were 2,336 reported crypto scam-related cases in which more than $216.6 million was lost. Although losses relating to crypto scams only constituted just over 10% of the nearly 23,000 reported technology crimes, they still accounted for more than half of the $407.7 million that was lost to … Read more
Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing
On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s … Read more
Russians to Pay Fees on Digital Ruble Transactions, Central Bank Says
Users of Russia’s central bank digital currency are going to pay a fee for each transaction, a high-ranking representative of Bank of Russia has recently announced. The digital ruble charge, however, is not going to exceed those currently applied to fast payments in the country. Bank of Russia to Charge for Digital Ruble Transfers The … Read more
Metropolitan Bank Denies Ceasing Cryptocurrency-Related International Wires
Just recently news.Bitcoin.com reported on the company Metropolitan Bank Holding Corp (NYSE: MCB) allegedly ceasing international cryptocurrency transfers. The bank is well known for being called the “Bitcoin Bank” and responded today to “erroneous statements” made by the media. Also read: French Entrepreneur’s Case to Overturn the Bitlicense Dismissed Various Reports State the ‘Bitcoin Bank’ Allegedly … Read more
Metropolitan Bank Ceases Cryptocurrency-Related International Wires
Metropolitan Bank Holding Corp (NYSE: MCB), one of the fastest growing banks in the United States, is used by a number of major cryptocurrency exchanges. But the NYSE traded bank has ceased all cryptocurrency-related international wires effective immediately, according to a Fortune report. Also Read: Whistleblower Details Big Bank’s Plans to Prohibit Employees Owning Bitcoin “The Bitcoin … Read more
