financial institutions

Crypto custody company Fireblocks on Friday announced its acquisition of BlockFold, a smart contract development and consulting firm, in a deal valued at $10 million that seeks to amplify the former's' capabilities in the realm of tokenization. As the digital transformation of financial...

Bitcoin (CRYPTO: BTC), the world's largest digital currency with a market cap of more than $592 billion, has seen a remarkable rise in popularity and value among financial institutions. According to crypto purchasing platform Swan Bitcoin, institutional investors have been feeling the FOMO, or...

The Assistant Secretary for Financial Institutions, Graham Steele, delivered remarks on the digitization of financial services at the Transform Payments USA Conference. His views were yet more confirmation that central bank digital currency (CBDC) are top-of-mind among the central...

An estimated $800 billion to $2 trillion (2-5% of global GDP) is laundered globally every year, according to the United Nations. Financial institutions are on their back heels when it comes to fighting financial crime and the issue is only getting worse. In an ideal scenario, financial institutions...

Circle (CRYPTO: USDC) deposited an unknown sum of cash in the now-defunct Silicon Valley Bank (NASDAQ: SIVB), which was one of the U.S.-regulated financial institutions responsible for holding the platform's reserves, as per a USDC Reserve Report. The report stated Circle had listed SVB, along...

Can good things come in fours? A quartet of the largest U.S. banks reported a mixed set of Q3 earnings results before the opening bell. Strength at JPMorgan Chase & Co (NYSE: JPM) and Citigroup Inc (NYSE: C) got balanced by weakness at Goldman Sachs Group Inc (NYSE: GS) and a hit and...

The Federal Reserve will release round one of its annual "stress test" on Thursday, which evaluates how financial entities will cope under various hypothetical scenarios. The full results of the test will be released the following Wednesday. Naturally, this is of greater significance and determines...

The rise of cyber-attacks has led to virtually every company beefing up its internal security measures to limit, not eliminate, the fallout from future attacks. The list of sectors most prone to attacks include the obvious choices: financial institutions, governmental organizations and...

The growing U.S. cannabis industry cleared a major legal and commercial hurdle on Friday – when the federal government issued guidance to financial institutions on how to deal with marijuana businesses. The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN), in coordination with the...