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Venture capital funds have invested heavily in crypto, with Bloomberg writing that they have already spent $ 17 billion this year.
Bloomberg notes that this amount is not only greater than any other year, but also greater than any other recorded year combined.
Much of the glut came in May, when Block.one, in a single transaction, invested $ 10 billion in digital assets and cash into the new Bullish Global crypto exchange.
Additionally, the company raised $ 300 million in additional funding around the same time.
BBVA, the Spanish bank, will roll out its bitcoin trading services for Swiss private banks, according to a report from CoinDesk.
The service was tested for six months with a select group of users. The trading service will now be made available to Swiss clients, although no advice will accompany it.
BBVA’s services encompass bitcoin and the bank plans to broaden the definition of other cryptocurrencies in the future.
Signature Bank has added TrueUSD, the stablecoin, to its lineup for the Signet blockchain banking platform, according to a report from CoinDesk.
With this addition, New York bank customers can now use the coin for instant payments.
TrueUSD is backed 1 to 1 with US dollars, and it has been independently verified by a US accounting firm. According to the report, its outstanding supply is over $ 1.4 billion.
TSB Banking Group will ban more than 5 million customers from buying cryptocurrency, fearing fraud rates could climb too high on trading platforms, Bloomberg writes.
Barclays, Monzo, and Starling Bank have all cracked down on cybercrime as well, all taking action to block money transfers to crypto trading platforms like Binance.
The TSB will block crypto purchases in which the bank discovers fraudulent abuse of trading platforms, and then proceed with bans afterwards, Bloomberg writes.
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NEW DATA PYMNTS: AI IN FOCUS: THE BANK’S TECHNOLOGY ROADMAP
About the Study: The AI In Focus: The Bank Technology Roadmap is a research and interview report examining how banks are using artificial intelligence and other advanced IT systems to improve risk management credit and other aspects of their operations. The Playbook is based on a survey of 100 bank executives and is part of a larger series assessing the potential of AIs in finance, healthcare and others.
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