Goldman's OTC crypto trade may cement bank's leading role in digital assets

The firm partnered with Galaxy Digital to execute the trade of a Bitcoin non-deliverable option, the first such transaction by a Wall Street bank.

By Robin Bradley • March 22, 2022

3 ways banking and finance could blur in 2022

Relationships have taken root where there was once overlap between banks and other financial service providers, writes Fabrizio Burlando, executive vice president of consulting at Mastercard.

By Fabrizio Burlando • March 17, 2022

Explore the Trendline➔

Artificial intelligence

The heavily regulated banking sector rarely gets to trailblaze. But with AI, an all-in mentality is fueling both research and adoption.

By Banking Dive staff

3 execs are leaving Citi for crypto or fintech. Will it be a turnover trigger for the bank?

Goldman Sachs suffered a rash of executive flight last year. If leaders continue to leave Citi, observers may look back at these departures as cumulatively significant.

By Dan Ennis • March 14, 2022

Biden's digital-asset order may prompt legislation

Calls for coordination across government agencies and a relatively short timeline to produce reports on the issue reinforce how seriously officials view forward movement, a law professor said.

By Caitlin Mullen • March 11, 2022

White House lays out digital-asset priorities

An executive order issued Wednesday details six priorities in "harnessing the potential benefits" of the emerging technologies.

By Lynne Marek • March 9, 2022

Circle delays SPAC merger, doubles valuation to $9B

The firm behind USD Coin has renegotiated its transaction terms with Concord Acquisition, pushing back the termination date to as late as Jan. 31, 2023.

By Robin Bradley • Feb. 18, 2022

Coinbase muscles in on popular remittance corridor

The company is partnering with Remitly to let users in Mexico cash out crypto transfers in pesos — a service that will be free through March.

By Robin Bradley • Feb. 16, 2022

Crypto lender BlockFi to pay $100M to settle with SEC, states

The company agreed to stop selling its interest-bearing account in the U.S. and launch a new one tailored to the Securities Act of 1933. Half of the settlement money will go to the SEC. The other $50 million will be split among 32 states.

By Dan Ennis • Feb. 14, 2022

CFTC chief eyes greater authority in crypto oversight

CFTC Chair Rostin Behnam asked a Senate panel for an extra $100 million and the authority to police the cash market for digital assets, in addition to its traditional role overseeing derivatives.

By Robin Bradley • Feb. 10, 2022

Fees make customers twice as likely to switch banks, study finds

Moving "from a punitive, carrot-and-stick approach suggests that retail banks are recognizing [they must] evolve beyond service provider [to] more of a hub of financial advice and guidance," J.D. Power researchers wrote.

By Robin Bradley • Feb. 1, 2022

Revolut to offer 30-minute, fee-free remittances from US to Mexico

Remittances sent from the U.S. to Mexico increased by 37.7% between November 2020 and 2021, according to research published by BBVA.

By Robin Bradley • Jan. 31, 2022

Diem to end crypto project, sell its assets to Silvergate Bank for $182M

The California bank said Monday it intends to launch a stablecoin this year using the assets it acquired in the deal.

By Dan Ennis • Updated Feb. 1, 2022

H&R Block launches challenger bank Spruce

The tax-preparation company last March teased its desire to offer digital checking and savings accounts. Spruce marks H&R Block's second foray into banking after it surrendered its charter in 2015.

By Robin Bradley • Jan. 21, 2022

Crypto questions, Fed vacancies fill 2022 regulatory agenda with unknowns

The people doing the regulating will be as important as rulemaking substance — and the Senate's vote on the Fed's Lael Brainard can serve as a test of Republicans' appetite for change.

By Dan Ennis • Jan. 20, 2022

SoFi gets OCC's conditional approval to become a bank

The OCC restricted the bank, once it's operational, from crypto activity without first obtaining the regulator's non-objection.

By Dan Ennis • Jan. 19, 2022

Neobank Starling halts advertising on Facebook, Instagram

The U.K.-based fintech's CEO, in a blog post, said the company would not post ads on Meta platforms until the social media giant addresses its scammer infestation.

By Robin Bradley • Jan. 7, 2022

NCUA OKs crypto partnerships for credit unions

"Financial services has always been 'adapt or die,'" Kyle Hauptman, the regulator's vice chair, told CoinDesk. "I don't want credit unions to go the way of Blockbuster Video because we, the regulators, prevented innovation."

By Robin Bradley • Jan. 4, 2022

5 banking trends to watch in 2022

A reversal on in-office work from a hard-liner like Goldman Sachs may represent a pivot point in the acceptance of remote policies. But other narratives, such as small-scale niche M&A, mark a continuation from 2021.

By Dan Ennis , Anna Hrushka , Robin Bradley • Jan. 4, 2022

Banks are 'missing the mark' on overdraft revamps, Dave CEO says

"Getting rid of overdraft solves part of the problem, but it also can hurt customers who are relying on those funds to get by, even though it's a very expensive credit," said the fintech's top executive, Jason Wilk.

By Anna Hrushka • Dec. 21, 2021

Customers Bank plays up 'fintech-forward' focus in rebrand

The bank said it's attracting "younger, more diverse, more tech savvy" clients, and the new branding is "designed to capture this vibe."

By Anna Hrushka • Dec. 16, 2021

Crypto custody firm Anchorage Digital raises $350M in $3B valuation

The company's latest raise comes as the firm is ramping up its strategy to partner with financial institutions that want to provide their clients with custody services for their digital assets.

By Anna Hrushka • Dec. 15, 2021

Chime customers can deposit funds at Walgreens for free

The retailer joins CVS, Walmart and 7-Eleven in allowing Chime's customers to make deposits at their brick-and-mortar locations. Walgreens, however, is the only retailer to do so without charging a fee.

By Anna Hrushka • Dec. 14, 2021

Wells Fargo to use HSBC's blockchain tech to settle forex transactions

Through the arrangement, the banks will sidestep CLS, a Federal Reserve-regulated third party, to settle matched foreign-exchange transactions in U.S. and Canadian dollars, euros and British pounds.

By Robin Bradley • Dec. 13, 2021

Coinbase's revenge, CFTC shade-throwing highlight return of 'winter filter'

Coinbase debuted an interest-bearing product for non-U.S. users a day after warning lawmakers the U.S. is at risk of being left behind. Also, "regulating through enforcement" comes under fire — from a regulator.

By Dan Ennis • Dec. 10, 2021

Crypto execs tout financial inclusion during digital-asset hearing

Circle, for example, aims to funnel "billions of dollars" of USDC dollar-denominated reserves into minority depository institutions to aid underserved communities, CEO Jeremy Allaire told lawmakers Wednesday.

By Anna Hrushka • Dec. 9, 2021