Banking
The Trump administration has released a comprehensive 160-page report advocating for extensive cryptocurrency adoption in the U.S. economy, highlighting key areas such as taxation, banking, and cybersecurity. This initiative aims to provide clearer regulations and encourage innovation across multiple sectors.
JPMorgan Chase and Coinbase are joining forces to let Chase customers link bank accounts with Coinbase wallets, buy crypto with credit cards, and convert credit card points to digital assets starting next year. This marks a significant step in blending traditional banking with cryptocurrencies.
JPMorgan Chase is preparing to offer loans secured by cryptocurrency assets like Bitcoin and Ethereum, signaling growing acceptance of digital currencies among top U.S. banks. This initiative showcases a major change in CEO Jamie Dimon's perspective and highlights ongoing integration of crypto in mainstream finance.
PNC Bank teams up with Coinbase to allow customers to buy, hold, and sell cryptocurrencies directly within the bank's platform, marking a major step in mainstream financial adoption of digital assets. This partnership also comes amid favorable regulatory changes promoting crypto innovation.
Bitcoin climbed to $105,000 after President Trump's executive order promoting cryptocurrency regulations and banning CBDCs. The U.S. move signals growing mainstream acceptance of digital assets, with major cryptocurrencies gaining traction and banks preparing for crypto payments.
Bank of America's CEO stated that the institution is ready to launch a dollar-backed stablecoin pending U.S. regulatory approval. This move demonstrates the increasing interest of traditional banks in integrating cryptocurrencies into their offerings.
In a significant move for the crypto custody landscape, Turkish digital investment bank BankPozitif has partnered with Swiss blockchain startup Taurus to bolster its services. Meanwhile, Bank of America CEO Brian Moynihan has indicated the bank's readiness to launch a dollar-backed stablecoin pending legislative approval.