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Digital asset bank Custodia is suing the Federal Reserve over an application delay

Digital asset bank Custodia, previously known as Avanti, is suing the Federal Reserve Board of Governors and the Federal Reserve Bank of Kansas City for delaying a decision on its application for a central bank master account. A Federal Reserve master account allows institutions direct access to the Fed’s payment systems. It enables the most direct access to the US’s money supply available to financial institutions. Those without master accounts are often forced to rely on partner banks with master …

What the OCC’s consent order to Anchorage means for the crypto industry

Quick Take The Office of the Comptroller of the Currency levied a consent order against crypto bank Anchorage at the close of last month, criticizing the firm anti-money laundering practices. What should other crypto firms take away from the development? This feature story is available to subscribers of The Block News Plus. You can continue reading this News Plus feature on The Block.

Goldman Sachs offers bitcoin-backed loan: Bloomberg

Goldman Sachs has reportedly offered its first loan facility backed by bitcoin. The cash loan was offered with bitcoin as collateral, a spokesperson for the bank told Bloomberg. Per the report, Goldman was interested in the deal because of how it was structured and the 24-hour risk management. Like other firms in the traditional finance space, the banking giant has been making strides into the crypto world recently. Last month, Goldman offered its first-ever over-the-counter crypto transaction in the form …

Investment bank Cowen launches digital assets division

Investment bank Cowen has launched a digital assets division that will allow institutional customers to trade cryptocurrencies. The company announced on Wednesday that it will offer “full-service trade execution and custody solutions.”  At this point, customers can trade between 16 tokens, including bitcoin, ethereum, solana, AAVE and USD Coin. “Through Cowen Digital, our clients now have access to the crypto and digital asset markets with our institutional quality and fully integrated end-to-end execution and custody capabilities,” said Jeffrey Solomon, chairman …

Russia’s largest bank to issue digital financial assets following approval

Russia’s largest bank, Sberbank, will soon start issuing and exchanging digital financial assets (DFA). The bank announced on Thursday that companies will be able to make transactions on its blockchain platform one month from now. Sberbank got the green light from Russia’s central bank a month after  Atomyze Russia was allowed to exchange digital assets, according to Reuters. The move to digital assets comes in the midst of Russia’s invasion of Ukraine, as the West responds with strict economic sanctions …

BitMEX Group plans to acquire a 268-year-old German bank

Crypto firm BitMEX Group announced Tuesday its plan to acquire Bankhaus von der Heydt, a 268-year-old private bank based in Germany. The group’s BXM Operations AG — a company founded by BitMEX CEO Alexander Höptner and its CFO Stephan Lutz — has signed a purchase agreement with Dietrich von Boetticher, the bank’s current owner. The deal is subject to the approval of German financial regulator BaFin. Bankhaus von der Heydt was founded in 1754. In October, it partnered with Fireblocks …

Digital Asset Banking: The Natives

January 4, 2022, 12:17PM EST • 10 min read Quick Take The US now has 7 crypto-native banks operating under state or federal charters Since OCC regulation on digital banking in July 2020, 2 Wyoming and 3 OCC charters approved Crypto-native banks lead in offering custody, real-time payment and OTC trading solutions Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, …