Walmart, NYCB show 2 ways to angle for blockchain expertise

The retailer posted a job description for a crypto product lead, while New York Community Bank partnered with fintech Figure.

By Dan Ennis • Aug. 17, 2021

Circle seeks national charter to start digital currency bank

Circle co-founder and CEO Jeremy Allaire said the company intends to operate under the supervision and risk management requirements of the Fed, Treasury, the OCC and the FDIC.

By Anna Hrushka • Aug. 9, 2021

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

Ex-OCC chief Brooks resigns as Binance.US CEO

The former regulator, who had led the company just three months, cited "differences in strategic direction" in a Twitter post. Binance faces scrutiny from several U.S. bodies, including the CFTC, Justice Department and IRS.

By Robin Bradley • Aug. 9, 2021

Neobank MovoCash launches real-time cryptocurrency conversion

The fintech, which launched in 2017, introduced a feature that allows users to rapidly convert 10 cryptocurrencies — including Bitcoin and Ethereum — into fiat money. 

By Robin Bradley • Aug. 4, 2021

Stablecoin meeting's focus finally comes to light

Tether and Diem were reportedly the focus of last week's "act-quickly" directive. The Justice Department is allegedly probing whether executives behind Tether hid from banks that transactions were linked to cryptocurrency.

By Dan Ennis • July 28, 2021

Crypto firm hires ex-CFPB chief Kraninger

She'll serve as vice president of regulatory affairs at Solidus Labs. The digital asset space has become a frequent landing spot for former regulators, including ex-Acting Comptroller Brian Brooks.

By Dan Ennis • July 23, 2021

NJ, Texas order BlockFi to stop offering interest accounts

A third state, Alabama, gave the crypto exchange 28 days to show why it should be allowed to keep selling the product to state residents. At issue is whether the offering is a security.

By Dan Ennis • Updated July 23, 2021

Dive Deposits: The case of the summer sequel (and a $52M award for Jamie Dimon)

Commitments to de-emphasize overdraft fees, boost junior banker pay and refresh banks' card suites are hardly new. This week offers deeper tread on well-worn narratives.

By Dan Ennis • July 21, 2021

Yellen urges regulators to 'act quickly' on stablecoins

Regulators have expressed concern that a lack of transparency with regard to tokens pegged to fiat currencies may mean the companies issuing them don't have adequate reserves.

By Dan Ennis • July 20, 2021

Bank of America becomes last US SIFI to make crypto push

The bank formed a team to research digital assets and related technology, but BofA's relative emphasis on the retail side and lack of well-publicized gaffes may leave it less dependent on a new stream.

By Dan Ennis • July 9, 2021

Binance.US hires ex-leader of California's 'mini-CFPB'

Manny Alvarez, who left the state's Department of Financial Protection and Innovation last month, will oversee risk, compliance and legal under former Acting Comptroller Brian Brooks.

By Dan Ennis • July 7, 2021

Quarles: Fed-backed digital currency poses 'significant' risks, 'unclear' benefits

His comments Monday, in which he compares cryptocurrencies to parachute pants, show the central bank is far from unified on digital dollar development.

By Dan Ennis • June 29, 2021

British regulator warns Binance to halt UK activity

Twitter, meanwhile, has seen complaints from Binance customers who said they were prevented from withdrawing pounds using the U.K.'s Faster Payments system.

By Dan Ennis • Updated July 9, 2021

Citi launches digital assets unit, confirming crypto plans

The bank becomes the second U.S.-based SIFI, after State Street, to form a crypto-centered business this month — at a time when central banks are casting doubt over the tokens' volatility.

By Dan Ennis • June 25, 2021

BIS report shows growing divide on crypto

Central banks strike a second blow against digital tokens. Stablecoins, too, this time. The dissonance between market and government may come down to timing, or an age-old pattern concerning risk.

By Dan Ennis • June 24, 2021

Fiserv partners with NYDIG to offer Bitcoin services

The deal comes a month after NYDIG inked a Bitcoin services agreement with fellow payments processor FIS, and as big banks broaden their offerings surrounding cryptocurrency.

By Vaidik Trivedi • June 23, 2021

Basel suggests clamping down on crypto as State Street rolls out digital-asset unit

The panel recommended the highest possible risk weighting — 1,250% — be applied to a bank's exposure to Bitcoin and some other digital tokens.

By Dan Ennis • June 10, 2021

OCC will revisit crypto charters, interpretive letters, acting chief says

Michael Hsu has said he will review the regulator's past actions regarding cryptocurrency activities and crypto firm charters, adding, "everything's on the table."

By Anna Hrushka • June 3, 2021

Crypto exchange Kraken launches mobile app in US

Customers can buy and sell more than 50 crypto tokens from their mobile phones with a starting investment of as little as $10. The services are not available for residents of New York or Washington state.

By Dan Ennis • June 3, 2021

Neobank Paybby to bring crypto investing to Black and Brown communities

"It's a great new investment class, and the people of our community should have access to this investment class just like anybody else," CEO Hassan Miah said.

By Anna Hrushka • May 25, 2021

Wells Fargo to offer crypto investment product for wealthy clients

The bank's decision to wade into crypto follows similar moves made by other large institutions, and comes as the nation's top bank regulator has indicated it plans to review past crypto-friendly actions.

By Anna Hrushka • May 20, 2021

Figure's journey with the SEC proves itself the anti-Ripple

Citi's court battle and Diem's narrowed ambitions may lend credence to Ripple's argument that authorities pick winners and losers, but Diem could now be trying the Figure approach.

By Dan Ennis • May 14, 2021

Facebook-backed Diem withdraws Finma application, shifts to US

Diem Networks U.S. will register as a money services business with the Financial Crimes Enforcement Network, and Silvergate Bank will become the exclusive issuer of Diem's dollar-backed stablecoin.

By Anna Hrushka • May 13, 2021

Square's Bitcoin revenue soars, eyes lending, Tidal app engagement

After exceeding earnings estimates, Square looks to drive user engagement and individual lending through its CashApp.

By Vaidik Trivedi • May 7, 2021

Cryptocurrency fuels ransomware payments. Without regulation, it could get worse

The rapid ascent of crypto, like other emerging technologies before it, has far outpaced the federal government's ability to regulate it.

By Samantha Schwartz • May 7, 2021