Bitcoin 

French State-Owned Bank Joins $8M Lightning Network Startup Funding

One of the developers of Bitcoin’s (BTC) Lightning Network has secured $8 million in funding from partners, including a bank partially owned by the French state. State-owned Bpifrance funds Lightning development In a press release published on Oct. 9, Bitcoin technology company ACINQ confirmed the news. This brings its total investment to $10 million. The funding came from the lead contributor Idinvest Partners, which focuses on small and medium-sized European businesses. Also involved was Bpifrance, an investment bank created by two French public entities. As such, the government has come…

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Bitcoin 

State-Backed German Bank Says Bitcoin Will Leap to $90,000 in 2020

The German bank BayernLB has published a report on Bitcoin (BTC) vs gold in which it predicts a big leap for BTC in 2020. Bitcoin outshining gold? On Oct. 1 the Munich-based bank BayernLB published its latest research report that seems to suggest that the forthcoming Bitcoin halving effect hasn’t yet been priced into its current price of around $8,300. The German bank explains that gold has had to earn its high stock-to-flow ratio “the hard way  over the course of millennia.” Bitcoin, on the other hand, will most likely…

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Ethereum 

Venezuelan Central Bank is Considering Holding Bitcoin and Ether

Venezuela’s central bank is exploring the possibilities of holding Bitcoin (BTC) and Ether (ETH) in its coffers, according to anonymous sources who reportedly have direct insights into the matter. Can the central bank store Bitcoin and Ether? According to a Sept. 26 Bloomberg article, the central bank of Venezuela is taking a closer look at whether they have the possibility to store cryptocurrencies.  The state-run oil and gas company, Petroleos de Venezuela SA (PSDV), had requested the central bank look into the matter after the oil producer ran into difficulties…

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Bitcoin 

Why Has Brazil’s Central Bank Included Crypto Assets in Trade Balance?

Cross-border transactions on crypto assets are already relevant and have already had a considerable impact on the domestic economy of some countries. For example, last month, the Central Bank of Brazil (BACEN) reviewed the Brazilian Trade Balance for crypto assets with new classifications under IMF standards. In Georgia, for example, which accounts for about 15% of global Bitcoin (BTC) mining, companies receive an estimated $700 million from Bitcoin mining annually. This represents about 5% of the country’s GDP, or 10% of exported goods and services. Crypto assets and international guidelines…

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Ethereum 

Singapore Bank Giant OCBC Joins JPMorgan’s Blockchain Network

OCBC has become the first Singapore-based bank to join JPMorgan Chase’s interbank blockchain network. According to a Business Times Singapore report on Sept. 20, a total of 134 banks from the Asia-Pacific region are now participants in JPMorgan’s blockchain-powered interbank information network (IIN). OCBC is the second-largest bank in Southeast Asia by assets and among the larger financial institutions in Asia-Pacific. 343 banks have joined JPMorgan’s network since 2018 These 134 banks comprise almost 40% of the 343 banks that have joined IIN since 2018. The network’s largest national bloc is Japan,…

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Bitcoin 

Argentina’s Central Bank to Increase Peso Supply by 5% in 2 Months

The Committee of Monetary Policy (COPOM) of Argentina’s Central Bank (BCRA) announced the intention to increase the monetary base by 2.5% per month for the next two months on Sept. 18. “To ensure monetary and financial stability” Per the announcement, the move is meant to ensure monetary and financial stability. The bank notes that it believes that the inflation of the Argentine peso caused by depreciation suggests a reduction in real monetary supply. The new exchange rate also lets observers project a real demand for sustained money, as the bank…

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Ethereum 

Arab Bank Switzerland Opens Bitcoin Custody, Brokerage Services

Arab Bank Switzerland has partnered with blockchain technology firm Taurus to offer Bitcoin  (BTC) and Ether (ETH) custody and brokerage services to its clients. Swissinfo reported the development on Sept. 19.  Serge Robin, the CEO of Arab Bank Switzerland — a Swiss institution that forms part of the Jordan-headquartered Arab Bank group — said:  “We firmly believe that blockchain will disrupt the financial industry as we know it and we intend to be amongst the first banks to offer digital asset services to our clients in a secure and regulated…

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