Zurich Cantonal Bank introduces new fees for credit cards and foreign currency transactions

The Zürcher Kantonalbank (ZKB) has announced changes to its pricing structure for personal accounts and banking packages. Starting from 2024, the bank will no longer charge annual fees for personal accounts and debit cards for private customers. This move is aimed at providing more affordable banking options for customers.However, it is important to note that […]

Turkey’s Central Bank Appoints Crypto Expert to Monetary Body

Turkey’s President Recep Tayyip Erdoğan has appointed Professor Fatma Ozkul, an expert in crypto assets and blockchain technology, to the central bank’s monetary body. Ozkul, a lecturer at Marmara University in Istanbul, has a strong academic background in accounting, finance, and auditing, with a focus on blockchain technology and digital assets. She recently authored a […]

Nigeria Lifts Ban on Crypto Transactions, Opening Doors for Financial Institutions

The Central Bank of Nigeria (CBN) has lifted the ban on cryptocurrency transactions in the country, allowing Nigerian banks and financial institutions to resume operations with cryptocurrency service providers. The initial ban, imposed in February 2021, was due to concerns over money laundering and terrorism financing risks associated with crypto assets.Under the new guidelines, financial […]

Sergio Ermotti Takes on Challenge of Leading Risky Credit Suisse Takeover

Sergio Ermotti, the former CEO of UBS, has returned to the Swiss banking giant to oversee its acquisition of struggling rival Credit Suisse. The merger, aimed at preventing a global banking crisis, is a high-stakes undertaking with potential risks such as IT system migrations and cultural differences. However, banking analysts and investors are optimistic about […]

Swiss National Bank Launches Pilot Project for Wholesale CBDC on SIX Digital Exchange

The Swiss National Bank (SNB) has announced that it will be launching a pilot project called Helvetia Phase III, which will involve the use of central bank digital currency (CBDC) on the SIX Digital Exchange (SDX) platform. This marks a significant step forward in the SNB’s exploration of digital currencies, as it will be the […]

Circle Receives Conditional Registration as Digital Asset Service Provider in France

Stablecoin issuer Circle has announced that it has received conditional registration under France’s cryptocurrency laws. This marks a significant regulatory stride for the company as it aims to comply with the EU’s Markets in Crypto-Assets (MiCA) regime. Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, highlighted France’s clear rules for responsible innovation […]

Paxos Receives Regulatory Approval to Expand Stablecoin Products to Solana Blockchain

The leading stablecoin issuer Paxos has received regulatory approval to expand its products to the Solana blockchain, which it plans to launch on Jan. 17, 2024. This expansion is a significant step for Paxos, as it competes with other stablecoin issuers like Circle and Tether for market share.Paxos prides itself on being the most regulated […]

Paxos Expands Stablecoin Issuance to Solana Blockchain, Boosting Solana’s Growth

Paxos, a blockchain and tokenization infrastructure platform, is expanding its stablecoin issuance to the Solana blockchain, marking its first expansion beyond Ethereum. Solana was chosen for its fast transaction rates and lower fees, making it an attractive network for US dollar stablecoins and payments.Paxos will be bringing its USDP coin, which is pegged to the […]

Paxos Receives Approval to Expand Stablecoin Operations to Solana Blockchain

Stablecoin issuer Paxos has received approval from the New York Department of Financial Services (DFS) to expand its operations to the Solana blockchain. This move comes after a thorough review process by the DFS, focusing on Solana’s risk framework. Previously, Paxos was only able to issue its Pax Dollar stablecoin on the Ethereum network.The Pax […]