ING Bank-Backed Crypto Trade Platform Pyctor Is Raising Money
The digital assets post-trade collaboration also involves Citi, State Street, UBS and others.
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GMEX has acquired ING’s Pyctor business to connect CeFi and Defi amid the increasing demand for hybrid finance. ING Group, Dutch multinational banking and financial services corporation, has spun out its digital asset business Pyctor to multi-asset trading infrastructure firm GMEX.GMEX has acquired ING’s institutional-grade digital asset custody solution Pyctor in a multi-million dollar deal, the companies said in a joint announcement on Monday.The Pyctor offering compliments GMEX’s MultiHub service, an institutional cross-platform business launched last year with the mission to bridge the....
As technology has become an all-encompassing fixture in our lives, the way that money moves around has changed radically. What's interesting is that most people haven't even noticed. Over time, money has ranged from shells to bracelets, from shiny coins to paper-like bills. Then, of course, credit cards came along - shards of plastic we all now tote containing precious personal information that can be taken with a simple snatch and swipe. We've gone from commodities as money, commodity-backed money and government-backed fiat currencies to distributed, database money. And now....
Nubank, a Brazilian digital bank backed by Warren Buffett’s Berkshire Hathaway, is reportedly planning an initial public offering (IPO) on Nasdaq. Nubank is crypto-friendly and offers investments in a bitcoin exchange-traded fund (ETF). The bank said, “The cryptocurrency ETF can be a way to further democratize access to the crypto market.” Digital Bank Backed by Warren Buffett’s Berkshire Hathaway Reportedly Plans to IPO on Nasdaq Nu Pagamentos SA, also known as Nubank, is planning an initial public offering (IPO) of more than $2 billion on the Nasdaq stock exchange....
Without a hint of irony, the central bank of Cyprus warned citizens against cryptocurrencies, noting that such money is not government-backed, volatile and ripe for money laundering. The bank does not go so far as to describe digital currencies — chiefly Bitcoin — as illegal, but “does not approve any activity that falls within its purview, unless it can ensure the legality of that activity.” To quickly sum up the last year in Cyprus: The country accepted an EU bailout of about 10 billion euro, closed its second-largest bank, froze everyone’s bank accounts, then skimmed money off the top....
The Bank of Russia remains skeptical on crypto despite the Russian president viewing it as a potential unit of account. The central bank of Russia is trying to evaluate the amount of Bitcoin (BTC) held by local investors amid a massive amount of money not returning to banks following the pandemic-fueled withdrawals.According to Elizaveta Danilova, head of the central bank’s financial stability department, the Bank of Russia is polling local cryptocurrency investors to estimate cryptocurrency investment volumes in Russia.“We need to work both on data and raising public awareness about the....