banks

According to Nikkei News, Japan's Nomura Holdings and Daiwa Securities Group are collaborating with Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group to jointly promote a pilot project for securities trading based on stablecoins, aiming to achieve 24-hour real-time settlement on the blockchain.The project plans to convert assets such as stocks, government bonds, corporate bonds, investment trusts, and ETFs into digital securities. After investors place orders through brokers, transactions will be settled in real-time using yen stablecoins jointly issued by the three major banks, with asset rights simultaneously transferred to the buyer. The experiment is expected to start as early as this month after notifying financial regulatory authorities, and may attract more financial institutions in the future.The project aims to support round-the-clock trading through the tamper-proof characteristics of blockchain, extending trading hours and shortening settlement cycles to invigorate the markets for stocks, bonds, and investment trusts. However, implementation still faces compliance and practical challenges related to broker order verification and other operational processes, and the pilot will focus on identifying and addressing related obstacles.

According to Eleanor Terrett's disclosure, the subsequent meeting on stablecoin yield issues held by the White House did not reach a final compromise, but both sides engaged in deeper discussions.According to attendees, the banking representatives expressed for the first time a willingness to consider "any proposed exemptions," which is seen as a significant concession, as banks had previously been firmly opposed to any transaction-based reward exemptions. The meeting focused on the definition of "permissible activities," with crypto companies hoping for a broad definition, while banks advocated for stricter limitations.

According to Decrypt, the cryptocurrency exchange Coinbase has filed a formal complaint with the Australian Parliament, accusing the country's four major banks (Commonwealth Bank, Westpac, ANZ, and NAB) of systematically refusing to provide financial services to legitimate crypto companies, stating that this practice has evolved into a "systemic feature"; given that the four major banks control the majority of transaction accounts and payment channels, this account closure effectively constitutes an "illegal regulatory ban," excluding the legitimate industry from the formal economy.The complaint cites data indicating that up to 60% of fintech companies faced bank refusals in 2021, and this issue remains unresolved. Coinbase urges lawmakers to mandate banks to implement five transparency measures, including requiring banks to document and inform customers of the reasons for account closures, ensuring affected customers can resort to internal dispute resolution processes, providing at least 30 days' notice before closing core services, and conducting self-compliance certifications. These measures were proposed by the Australian Financial Regulator in 2022 but have yet to be legislated.

The cryptocurrency advocacy organization stated that the meeting held by the White House on Monday regarding "how to define stablecoin yields" is "an important step" and represents "the progress needed" to advance cryptocurrency legislation amid repeated fluctuations in the legislative process. However, the formation of relevant compromise solutions may not be smooth.Representatives from Coinbase, major cryptocurrency industry associations, and banking organizations gathered in Washington, D.C., to discuss the regulatory approach to stablecoin yields and whether third parties, including Coinbase, should be allowed to offer such yields. The meeting was chaired by Patrick Witt, a member of the President's Advisory Council on Digital Assets.Summer Mersinger, CEO of the Blockchain Association, stated in a statement: "Today's meeting at the White House is an important step in seeking to advance bipartisan support for legislative solutions regarding the market structure of digital assets. We appreciate the leadership shown by Patrick Witt and the government in bringing together various stakeholders to collaboratively address one of the key unresolved issues: stablecoin yields."

The White House will hold a meeting on cryptocurrency and banking regarding stablecoin yields at 1 PM Eastern Time.

According to CoinDesk, UK officials have stated that as part of the government's ambitious plan to make the country an international digital asset hub, they expect banks to treat all businesses fairly, including crypto service providers.A spokesperson for the UK Treasury stated that the government has submitted crypto asset regulatory legislation to Parliament, with final rules expected to be confirmed this year, "providing the certainty needed for crypto businesses to invest and develop in the UK." The spokesperson also said, "We expect businesses to be treated fairly. Crypto businesses authorized by the UK's Financial Conduct Authority (FCA) should not be discriminated against simply because of the industry they belong to. We do not want these licensed businesses to face account or transaction restrictions from banking service providers." Previous industry reports indicated that several banks in the UK still prevent customers from accessing legally registered crypto services.

The White House will hold a cryptocurrency summit next Monday, inviting senior representatives from the banking industry and the cryptocurrency sector in an attempt to break the deadlock over the Clarity Act. According to three industry insiders, the meeting will be chaired by the White House Cryptocurrency Committee, with the core topic focusing on whether cryptocurrency companies can offer interest or other returns on stablecoins held by customers.The banking industry is concerned that allowing cryptocurrency companies to pay returns will lead to deposit outflows, threatening financial stability. A report from Standard Chartered estimates that by the end of 2028, stablecoins could siphon off about $500 billion in deposits from U.S. banks. Cryptocurrency proponents argue that banning the payment of returns would harm competitiveness and be crucial for attracting new customers.

According to the Financial Times, as gold prices reach record highs, Tether, the world's largest stablecoin company, has seen its gold holdings appreciate by over $5 billion.Based on estimates from Jefferies using data disclosed by Tether, as of the end of September, Tether held approximately 116 tons of gold, valued at around $14.4 billion at that time. Last September, the gold price was $3,858 per ounce, but amid rising geopolitical uncertainties and a surge of investors into safe-haven assets, it has now skyrocketed to over $5,200, meaning Tether has realized an appreciation of over $5 billion on this portion of its holdings. Tether stated this week that it further purchased 27 tons of gold bars in the fourth quarter of last year to back its stablecoin, and just this year, this additional holding has appreciated by at least $700 million. Tether's current total gold holdings are valued at approximately $24 billion, making it one of the biggest beneficiaries in this round of gold price surges.According to data from the World Gold Council, Tether has become one of the entities with the highest gold holdings globally, with its gold reserves comparable to those of the Qatar Central Bank (the UK's gold reserves are 310 tons). Jefferies analysts wrote in a report in November: "Tether is the largest holder of gold outside of central banks, with a holding size comparable to that of smaller central banks like South Korea, Hungary, and Greece."Recently, CEO Paolo Ardoino stated that the company is currently purchasing 1 to 2 tons of gold per week and will maintain this pace "in the coming months."

PayPal and the National Cryptocurrency Association (NCA) survey shows that 39% of U.S. merchants have accepted cryptocurrency payments, and 84% expect it to become the norm within five years.Strong consumer demand: 88% of merchants have received inquiries from customers about cryptocurrency payments, with the highest demand from millennials (77%) and Generation Z (73%); the hospitality industry (81%) and digital goods and luxury retail (76%) lead the way. 90% of merchants stated they would accept cryptocurrency payments if the process were as simple as credit cards.Additionally, among the top 25 U.S. banks by assets, 15 have launched or announced Bitcoin custody trading services, including JPMorgan, Goldman Sachs, and Morgan Stanley. Analysts believe that 2026 could be a turning point for cryptocurrency payments.

According to data provided by River, 60% of the top 25 banks in the U.S. by asset size are developing BTC-related products.

According to Finance Feeds, a new survey released by the UK Crypto Asset Business Council shows that UK banks are widely blocking, delaying, or refusing customer transfers to cryptocurrency exchanges, even when these exchanges are regulated by the UK's Financial Conduct Authority.The survey estimates that about 40% of such transfer attempts are intercepted or delayed by banks. The survey of the top ten centralized exchanges in the UK found that 80% of exchanges reported an increase in customers experiencing blocked or restricted transfers in the past 12 months, with none reporting any easing of the situation.The report indicates that over the past year, 80% of the surveyed exchanges reported an increase in the number of customers facing bank restrictions, with none reporting any easing of the situation. The restrictions include major commercial banks setting strict limits on transfers to exchanges and credit card payments or directly blocking them.

According to Valor, the Central Bank of Brazil (BC) has issued rules for banks and brokerage firms wishing to engage in cryptocurrency activities. The directive requires such institutions to hire a qualified independent company to demonstrate their compliance with the regulatory requirements for virtual asset service providers (PSAV) set by the monetary authority. The certifying entity must clearly indicate that there is no conflict of interest with the audited party.

Coinbase CEO Brian Armstrong stated on the X platform that during his participation in the World Economic Forum in Davos, most of the bank CEOs he met were actually very supportive of cryptocurrencies and viewed them as an opportunity (of course, there were also some who had not fully accepted them). The CEO of a top ten global bank told Brian Armstrong that cryptocurrencies are their top priority, and they believe it is a matter of survival for banks.

The American Bankers Association (ABA) has stated that it will prioritize "curbing interest/yield/reward on payment stablecoins" as a key policy issue in 2026, reflecting concerns about stablecoins becoming alternatives to bank deposits.Bank of America CEO Moynihan warned earlier this month that if the U.S. Congress does not limit interest-bearing stablecoins, up to $6 trillion in deposits could shift away from banks, a figure that represents about 30% to 35% of total deposits in U.S. commercial banks.Moynihan noted that the structure of stablecoins is similar to that of money market mutual funds, which hold reserves in short-term instruments (such as U.S. Treasury securities) rather than being used for bank loans like traditional banks. In this model, funds are detached from the traditional banking system, leading to a shrinking deposit base that banks rely on to support loans to households and businesses.

Trump has filed a $5 billion lawsuit against JPMorgan Chase and CEO Jamie Dimon, accusing the bank of refusing to provide financial services to him and his businesses for political reasons. He hinted at taking legal action over the weekend on the Truth Social platform. The Trump family claims they were forced into the cryptocurrency industry because they were blacklisted by major banks.His son, Donald Trump Jr., stated, "We got into cryptocurrency because we were de-banked." Meanwhile, World Liberty Financial, supported by the Trump family, has applied for a banking license this month to promote its stablecoin business.

According to the Financial Times, Elon Musk's rocket manufacturer SpaceX is seeking Wall Street investment banks for a "super IPO," which is expected to become one of the largest IPOs in history.Insiders revealed that Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley have been arranged as the lead underwriters for this IPO, responsible for leading the listing process. SpaceX executives have held talks with several investment banks in recent weeks, preparing for an IPO that could start as early as this year. Currently, SpaceX is conducting a round of secondary stock sales, valuing the company at approximately $800 billion. At the end of last year, SpaceX indicated that it expected to conduct an IPO in the mid to late 2026, with a valuation of about $1.5 trillion, raising funds that would far exceed $30 billion.

At the 2026 World Economic Forum in Davos, Zhao Changpeng stated that technology itself does not bring risks, but rather accelerates the exposure of existing problems, pointing out that the root of the banking liquidity crisis lies in the "fractional reserve system." He cited Binance as an example, stating that the platform once handled withdrawals of up to $7 billion in a single day, with no overall pressure.Zhao Changpeng predicted that with the maturity of blockchain and KYC technology, the number of physical bank branches will significantly decrease in the next decade. At the same time, he expressed reservations about direct payments in Bitcoin and Meme coins, believing that Meme coins are highly speculative, and the vast majority will struggle to last, with only a few like Dogecoin potentially enduring due to their cultural value.

According to market news, White House AI and crypto chief David Sacks stated that after the legislative passage of the crypto market structure bill, banks will fully enter the cryptocurrency space.

According to Xinhua News Agency, at the national procurators' meeting held in Beijing, the Supreme People's Procuratorate made arrangements to fully utilize the power of the rule of law to serve high-quality development and other aspects. The Supreme Procuratorate requires that procuratorial organs must legally safeguard economic and financial security, severely punish serious economic crimes, and promote the creation of a law-based business environment.The Supreme Procuratorate demands strict punishment for crimes such as smuggling and exporting strategic minerals to safeguard national strategic interests; in conjunction with the Financial Regulatory Administration and others, legally govern the illegal intermediary chaos in the financial sector, severely punish illegal fundraising, financial fraud, and other crimes, and comprehensively combat the financial "black and gray industries," ensuring the stable operation of finance and protecting the property safety of the people; increase efforts in anti-money laundering work, focusing on punishing crimes that utilize underground banks and virtual currency for money laundering. The Supreme Procuratorate proposed to deepen the rule of law construction in the capital market in conjunction with the China Securities Regulatory Commission, improve the mechanism for stationed securities procuratorial work, and strictly punish securities crimes such as financial fraud and market manipulation to maintain the safety of the capital market.