DeFi News
This is what DeFi banking will look like in the future
Traditional banks are not going away and decentralized finance is here to stay, writes Edan Yago of Sovryn. Here’s how an amalgam of the two can take shape.
Edan Yago
Lens
Bank
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Opinion Pieces
Ignore the rise of Web3 credit unions at your peril
Today’s consumers are looking for more equitable financial services, writes Sean Rach of hi. Here’s how blockchain can offer a nonprofit banking alternative.
Sean Rach
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DeFi Innovations
Shinhan, Standard banks demo cross-border stablecoin remittance
The transaction, using the Hedera Consensus Service network, bypasses intermediaries, lowering fees.
Danny Park
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Metaverse Platforms
South Korea’s KB Bank unveils a metaverse bank testbed
KB Kookmin Bank, one of South Korea’s largest financial institutions, announced yesterday that it has developed the KB Metaverse VR Branch Testbed for experimenting with allowing customers wearing a head-mounted VR device to access banking services in a metaverse. Fast facts Simple transactions, such as remittances, can be managed at a teller window, while an […]
Danny Park
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Metaverse Platforms
Major South Korean banks plan virtual branches in the metaverse
The Industrial Bank of Korea (IBK) plans to launch on social media platform Cyworld Z’s metaverse. Other major banks in South Korea such as KB Kookmin, NH Nonghyup and Hana Bank plan moves toward the metaverse as well. Fast facts IBK announced yesterday its memorandum of understanding (MOU) with Cyworld Z. Cyworld Z is a […]
Danny Park
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Compliance Challenges
ICBC agrees to Federal Reserve risk compliance measures
As global markets continue to watch the Evergrande debt crisis nervously, Chinese bank branch agrees to U.S. risk management measures.
Jeanhee Kim
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Crypto Trading and Strategies
Commonwealth Bank first in Australia to offer crypto trading
Amid debate in Australia surrounding the banking sector’s relationship with cryptocurrency, the country’s largest bank, Commonwealth Bank, will soon be allowing customers to buy, sell and hold crypto assets directly through its app — making it the first bank in the country to do so. Fast facts Partnering with leading global crypto exchange and custodian […]
Lachlan Keller
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Regulation
Australian crypto industry watches as sole trader charges two top banks with ‘debanking’
While the government signals it is ready to promote the industry, the country’s banks remain unimpressed. ANZ has already settled its de-banking case with Allan Flynn, but as the tribunal with Westpac concluded over the weekend, what should we expect from the outcome?
Lachlan Keller
