Russia will prohibit cash-for-crypto transactions and require trades to go through cashless, bank-mediated channels, a senior central bank official said. The measure is meant to increase oversight of crypto-related flows and clamp down on informal peer-to-peer markets.
The Hong Kong Monetary Authority has granted HSBC and Standard Chartered Group the first licenses under the territory’s Stablecoins Ordinance, which took effect in August 2025. The approvals mark a regulatory milestone that could accelerate bank-led stablecoin activity in the region.
SoFi launched a 24/7 Banking Hub that lets businesses hold dollars, convert them into stablecoins, and move funds instantly within a regulated bank environment. The service aims to speed settlements and simplify treasury operations.
Ripple is closer to becoming a national trust bank after the OCC’s final rule on national trust bank activities goes into effect April 1. The move could expand custody and payment services for XRP and signal wider regulatory clarity for the crypto industry.
SWIFT confirmed its blockchain-based shared ledger is advancing to a minimum viable product stage, marking the start of live settlement trials across its global messaging network. The move could reshape interbank settlement speed and risk management for more than 11,000 institutions.
Standard Chartered said Monday that Ole Matthiessen will join the bank as global head of transaction services and digital assets in its corporate and investment banking division, signaling a stepped-up institutional focus on crypto and tokenized services.
A US lawmaker grilled officials at the Federal Reserve Bank of Kansas City after Kraken’s Wyoming-chartered banking arm became the first crypto-native firm to receive a Fed master account in March. The questioning centered on the approval process, transparency and potential risks to financial stability.
Bank of Ningbo is soliciting suppliers to develop a system for processing the digital yuan, signaling Beijing may expand e-CNY licensing as it pushes wider adoption. The move reflects growing institutional readiness among Chinese banks to integrate the central bank digital currency into retail and merchant rails.
The Bank of Korea and nine commercial banks have started live trials of deposit tokens, testing subsidy disbursements and peer-to-peer transfers. The pilot aims to evaluate operational performance and integration with existing payment rails.
UniCredit CEO Andrea Orcel said a digital euro could erode banks' liquidity and profit margins by diverting retail deposits, while describing the initiative as "relatively constructive."