Tag: bank
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U.S. Bank Pioneers Cross-Border Blockchain Settlements With Successful Live Pilot of Proprietary USBDC Stablecoin on Stellar Network
In a landmark move for the traditional banking sector, U.S. Bank has successfully executed a live pilot of its proprietary dollar-backed stablecoin, leveraging public blockchain technology to facilitate seamless cross-border fund transfers. The Minneapolis-based financial institution, currently ranked as the sixth-largest bank in the United States, utilized the Stellar network to conduct the transaction between…
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Berkshire Hathaway Sells $1.7 Billion in Bank of America Shares Amid Broader Portfolio Adjustments
Berkshire Hathaway, the venerable conglomerate helmed by investing titan Warren Buffett, has once again significantly trimmed its stake in Bank of America, divesting approximately 30 million shares valued at around $1.7 billion. This latest move, detailed in the company’s second-quarter 13F filing, signals a continued, multi-year strategy of reducing exposure to the banking giant, even…
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Bank of England Report Elevates Oracle Networks, Spotlights Chainlink’s Foundational Role in Future of Wholesale Payments
The Bank of England, in a landmark publication that has sent ripples through the financial technology sector, has unequivocally highlighted the indispensable nature of oracle networks in the evolution of wholesale payments and settlement. The "DLT Innovation Challenge 2025 Final Report," released on May 12th in collaboration with the BIS Innovation Hub London Centre, moves…
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US Banking Regulator Grants Preliminary Approval to Trump-Backed World Liberty Financial for National Trust Bank Charter
The Office of the Comptroller of the Currency (OCC) has issued a preliminary conditional approval for a national trust bank charter to World Liberty Trust Company, National Association, a financial entity closely associated with the business interests of President Donald Trump and his family. This landmark decision marks a significant turning point in the intersection…
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U.S. Bank Launches Live Pilot of Proprietary Dollar-Backed Stablecoin on Stellar Network for Cross-Border Transactions
U.S. Bank, the sixth-largest commercial banking institution in the United States, has officially initiated a live pilot program for its proprietary dollar-backed stablecoin, marking a significant milestone in the integration of public blockchain technology within the traditional financial sector. The pilot involves the movement of funds across international borders, specifically between the bank’s North American…
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Bank of England spotlights Chainlink oracles in DLT report
The Bank of England, in collaboration with the BIS Innovation Hub London Centre, has released a significant report that not only examines the potential of distributed ledger technology (DLT) to revolutionize wholesale payments and settlement but also elevates the role of oracle networks to a foundational element within this evolving financial landscape. The DLT Innovation…
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OCC Grants Conditional Approval for World Liberty Trust Bank Focused on Stablecoin Operations
The Office of the Comptroller of the Currency (OCC) has officially issued a preliminary conditional approval for a national trust bank charter to World Liberty Trust Company, National Association, a financial entity closely associated with the business interests of President Donald Trump and his family. The decision, documented in a formal letter from the regulator,…
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Bank of England spotlights Chainlink oracles in DLT report
The recent publication of the DLT Innovation Challenge 2025 Final Report by the Bank of England, in collaboration with the BIS Innovation Hub London Centre, has sent ripples through the financial technology and blockchain communities. Far from a mere academic exercise, the report, released on May 12, offers a comprehensive examination of how distributed ledger…
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Bank of Russia Unveils Comprehensive Regulatory Framework for Organized Digital Asset Trading and Infrastructure
The Bank of Russia has formally introduced a sweeping package of draft regulations aimed at legitimizing and structuring the organized trading of cryptocurrencies and digital rights within the federation’s borders. This regulatory push represents a significant pivot in the Kremlin’s financial policy, moving away from previous attempts to implement a blanket ban on digital currencies…
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European Central Bank Backs Wholesale Tokenized Euro to Anchor Blockchain Markets, Posing Challenge to Stablecoins
The European Central Bank (ECB) is strategically positioning a tokenized euro as the foundational anchor for Europe’s burgeoning blockchain-based financial markets, a move articulated by Executive Board member Isabel Schnabel at the recent Jackson Hole Symposium. Her proposal, presented on Friday, advocates for directly issued, programmable central bank reserves designed specifically for wholesale money —…
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