Digital currencies

Northern Trust, Fidelity join small club managing crypto assets


They're among a handful of companies willing to hold clients' digital assets for safekeeping. Many of their peers balk at the reputational and financial risks.


Digital dollar, inclusion and the stimulus bill


The events of 2020 have only helped to intensify a range of potentially disruptive developments in the payment industry. As the central bank's digital currencies advance, how will the government and the private sector work together to bring projects to an effective conclusion?


Avanti got a bank charter. Here’s what's next on its agenda.


Founder Caitlin Long says the blockchain bank plans to issue a virtual currency and help hedge funds and family offices trade digital assets now that it has a special-purpose banking charter in Wyoming.


BNP Paribas out front on digital asset storage


National banks just got the OCC's go-ahead this summer to hold and transfer digital assets like bitcoin for customers, but the Paris-based bank has already vetted the technology needed to do the job.


Powell says Fed's digital currency should complement payments system


Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.


Central banks want digital currencies that don’t nudge out cash


Digital money will have to coexist with cash and other forms of tender, according to a report by the Bank of International Settlements, the Federal Reserve and other institutions.


Banks are permitted to hold crypto assets. Will they?


In July, the OCC issued a letter clarifying that federally chartered banks can store cryptocurrency assets for their clients. A recent global survey finds that many are wary of the risks.


Banks can hold stablecoin-related assets for customers, OCC says


The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings.


Crypto exchange Kraken receives Wyoming bank charter


The company, which left New York in 2015 to avoid its regulations on virtual currencies, has found a more welcoming state.


OCC allows banks to hold cryptocurrency assets for safekeeping


Responding to an unnamed bank that had sought the opinion, the regulatory agency issued an interpretive letter clarifying that an institution's custody services can be used for cryptographic keys and other digital currency-related assets.