DBS Bank To Embrace Crypto For Its Premium Tier Clients Amidst Market Turmoil
Singapore’s renowned bank, DBS is now planning on expanding the crypto services to premier clients across Asia. The affluent clientele base amounts to around 300,000 in number. This news comes during such a time when the crypto market continues to totter under turmoil. Piyush Gupta, the chief executive of DBS, however, is of another opinion […]
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Popular messaging platform Telegram has announced it is launching a new premium tier of its services as it seeks to monetize a part of its userbase. Reaching more than 700 million active users monthly, the new tier answers to the need of these users for more bandwidth and storage capacity, according to Pavel Durov, CEO of the company. Telegram’s New Premium Tier to Expand User Functionality Telegram, one of the most popular messaging apps in cryptocurrency circles, has announced it will introduce a paid premium tier of its services that will allow its users to access new features....
Volatile cryptocurrencies such as Bitcoin would also be subjected to a 1,250% risk premium. On Thursday, the Basel Committee on Banking Supervision suggested during its second consultation on the prudential treatment of crypto-asset exposures that banks limit their exposure to so-called Group 2 crypto assets to just 1% of their Tier 1 capital. Group 1 digital assets consist of tokenized traditional assets, such as synthetic stocks, or those with effective stabilization mechanisms, such as regulated stablecoins. Under the new proposal, Group 1 digital assets would be subject to at least....
Between strict capital controls and regulations, Korea’s cryptocurrency industry is so closed off that Bitcoin commands a steep premium and DeFi is in its infancy. On a day in which Bitcoin crashed briefly to $30,000 in a rampant bear market, the leading cryptocurrency never got anywhere close to that on Korean exchanges. The so-called “kimchi premium” saw to that, keeping the price of Bitcoin as much as $5,000 above its level on leading U.S. exchanges.The major reason for this kimchi premium is that Korea’s exchanges are fairly isolated by a combination of the country’s strict capital....
Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of economy in the country resigned last weekend, alongside other personalities, creating the turmoil that prompted the price of stablecoins in the country to rise by 11% on some exchanges.
Dollar-to-Peso Exchange Rate Plummets Due to Political Uncertainty in Argentina
The rate that citizens in Argentina use to exchange the native fiat currency, the Argentinian peso, for dollars, has....
A recent study unveiled that top-tier cryptocurrency exchanges increased their market share since October 2020, in the context of lower-risk exchanges. The bitcoin bull market fueled that both retail and professional traders utilized such risk, data shows. Stricter Regulations Boosted Transparency Levels in Crypto Exchanges Per information from crypto market data provider cryptocompare.com, top-tier crypto exchange gained 13% market share from October 2020 to January 2021. In fact, it increased from 61% ($347 billion) to 74% ($1.41 trillion). But the study — which covered over 160....