German banking giant Commerzbank applies for crypto license
A spokesperson for Commerzbank confirmed to local media that it applied for the license with BaFin earlier this year in a first for a major bank in Germany. One of the largest banking institutions in Germany has confirmed it applied for a local crypto license earlier this year, marking the first time a major bank has made a move toward cryptocurrencies in the country.A spokesperson from Commerzbank confirmed to local media outlet Börsen-Zeitung on April 14 that it “applied for the crypto custody license in the first quarter of 2022.” If approved it would be authorized to offer exchange....
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With the banking license, this will give N26 the ability to access the entire EU instead of the handful of countries it originally operated in, as an EU licensed bank. Originally, they relied on Wirecard, a German banking platform. Launching its app back in 2015, N26 or formerly NUMBER26 has around 200,000 users on its mobile banking app for them to be able to open bank accounts, transfer and even deposit/withdraw using an ATM or CASH26 locations. Adding features. Valentin Stalf, founder and CEO of N26 states: “This [banking license] will allow us to significantly enhance the diversity of....
The global Bitcoin exchange itBit has applied for a banking license with the New York Department of Financial Services (NYDFS). According to a Reuters report, approval for the license is expected in the next couple of weeks, which could make itBit the first Bitcoin company to be regulated as a bank. The spokespersons for itBit and New York's department of financial services have confirmed that the company had put in an application for the banking license however, the global Bitcoin marketplace hasn't released an official statement yet. Under the leadership of Charles "Chad" Cascarilla, the....
Itbit global Bitcoin Exchange. With all of the hoopla surrounding the Bitcoin ecosystem in the past few years, there are still many "firsts" Bitcoin, or a Bitcoin startup, has yet to achieve. One of those is the establishment of a true Bitcoin bank in the United States. Due to regulations, this is no easy task. To be sure, the banking community in many ways has been receptive to Bitcoin. Yesterday Reuters reported that Bitcoin exchange itBit has filed for a banking license in New York. Approval for the license could take a couple of weeks, according to sources for Reuters, which could....
Deutsche Boerse invests $12 million in new holding company 360X to develop blockchain-based digital marketplaces featuring NFTs. German securities marketplace Deutsche Boerse and major bank Commerzbank have jointly invested in a new holding company which plans to focus on blockchain technology and digital assets.Deutsche Boerse announced Thursday that the company and Commerzbank entered a strategic partnership with fintech firm 360X to develop new blockchain-based digital marketplaces and existing real asset classes like art and real estate.A representative from Deutsche Boerse confirmed....
Crypto startup Avanti Financial Group has been granted a license to offer banking services by the Wyoming State Banking Board. The license, or bank charter, means Avanti can now operate as a conventional bank – but one with a twist, capable of holding both crypto and dollars. It plans to launch in 2021. According to a statement published Oct. 28, the firm will also now be able to take custody of crypto assets like bitcoin while its plan for the creation of Avit, a tokenized US dollar, has been given the go ahead. The company’s application for a bank charter was accepted in....