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Crypto Source, Downing Street, Central London, ON (2026)

09/17/2023

UBS Group CEO Sergio Ermotti plans to stay at the helm through 2026 to integrate former rival Credit Suisse in a process he likened to a marathon.

"I need to finish the job," Ermotti told the Economic Club of New York on Thursday. "My commitment is to finish the job, and for sure that means staying through the end of 2026. I can't be already thinking about where I would go three months after starting."

The biggest bank merger since the global financial crisis was hastily arranged in March by the Swiss government to avert Credit Suisse's collapse.

During the weekend the deal was struck, Ermotti was at a football game when his phone started to ring.

UBS Chairman Colm Kelleher later called him about rejoining the firm. "It was on Monday morning the chairman of UBS called me and asked me in to see me. I guess I started to suspect it probably was not about having a beer," Ermotti said.

After serving as CEO from 2011 to 2020, Ermotti said he felt a duty to return and steer the bank through the turmoil. Looking ahead, Ermotti pointed to the U.S. and Asia as growth areas. But he cautioned investors may be too confident about the likelihood of soft landing in which the U.S. economy avoids a major recession.

Wealthy clients are flocking to money market funds in the U.S., tempted by higher rates, he added.

And "despite geopolitical tensions with China, Asia is the place to be for the next 10 to 20 years," he said.

UBS said last month it wants to cut $10 billion in costs by the end of 2026 and lay off 3,000 people in Switzerland. Analysts have estimated between 30,000 and 35,000 jobs could be cut globally.

09/17/2023

With the unveiling of Crypto IBANs and cutting-edge Point of Sale (PoS) systems, European Banking Solutions (EBS) is empowering businesses to navigate the world of cryptocurrencies, transactions, and payments with unparalleled ease and security. One of the key reasons someone might choose EBS is their unwavering commitment to transparency, ensuring that clients have a clear view of their financial transactions and accounts. Additionally, EBS offers segregated funds, instilling reliability and security in its services, and assuring clients that their assets are protected and separated from operational funds.

Is EBS a firm that has the potential to pique interest? Keep reading to gain a deeper understanding of how EBS is influencing the future of finance and payments for high-risk sectors.

Unlocking the Future of High-Risk Industries

In a world where traditional banking and financial systems are struggling to keep up with the rapid rise of cryptocurrencies, EBS steps forward with a game-changing solution. EBS takes pride in unveiling its revolutionary Crypto IBANs and innovative Point of Sale (PoS) solutions, meticulously crafted for high-risk industries such as Casinos, online betting, real estate, and iGaming. These advancements are set to redefine the way businesses manage cryptocurrencies, streamline transactions, and secure payments.

Pioneering Security and Flexibility

Among the standout features of EBS's latest innovation lies the provision of dedicated crypto-friendly IBANs. These specialized IBANs empower businesses with full control over their cryptocurrency assets, guaranteeing not only security, but also the agility required to flourish in the dynamic financial landscape of today. EBS is enthusiastic about leaving behind the limitations of conventional banking and ushering in an era where your assets are readily available at your convenience, 24/7.

European Banking Solutions offers a range of services that you can take advantage of:

• Global Payments (NYSE:GPN) - Crypto IBANs: Full control of your funds with a designated crypto-friendly IBAN. Grow your business across borders with SEPA/SWIFT payments.

• Streamlined On/Off Ramp: Swift Crypto-Fiat and Crypto-Crypto conversions are available with contactless payments using QR codes.

• Free Custody: Secure self-custody for 30+ currencies, plus numerous crypto features on-the-go.

• Point of Sale (PoS): In-person transactions are enhanced by making crypto payments possible.

Global Expansion Made Seamless

EBS understands that high-risk industries often blossom on global opportunities. To facilitate this expansion, EBS provides seamless integration with SEPA/SWIFT payments. This means that your business can effortlessly engage in borderless, instant, and cost-effective transactions, driving international growth without the usual financial constraints. EBS aims to free its customers from geographical boundaries and constraints, leading the way with pioneering client-centric solutions.

Embracing Cryptocurrency Payments Offline

As the world rapidly transitions towards a digital economy, EBS is determined to position itself at the vanguard of this transformation. Through its PoS innovations, businesses can effortlessly integrate cryptocurrency payments into their physical stores. EBS is unwavering in its commitment to facilitating immediate settlement in fiat currency, directly to businesses' bank accounts. The dynamic capabilities of EBS's merchant dashboard offer clients the ability to effortlessly track orders, manage payments, reconcile accounts, and create invoices.

Streamlining Fund Flow with Crypto Billing Tools

Within high-risk industries, adept fund management is a crucial bridge. EBS understands this, and that's precisely why they meticulously engineered innovative Crypto Billing tools to create a bridge across the divide. These innovative instruments streamline the financial current between enterprises and their clientele, ensuring a seamless, secure, and transparent passage for all financial transactions.

The Future of Payment Terminals

EBS aims to position itself as a frontrunner in the industry by incorporating innovation, delivering unparalleled customer support, and embracing a passion for reshaping the sector.

Its mission is to offer high-quality and integrated solutions that empower businesses to excel and leave an impression on the economic landscape. Beyond its omnichannel payment terminal, EBS provides businesses with a multitude of payment options, exceeding clients' expectations.

09/16/2023

Darewise Entertainment, a subsidiary of Animoca Brands, is partnering with Horizen Labs to develop the first metaverse token on Bitcoin.

Horizen Labs, a blockchain firm, will guide on token development and provide consulting services.

This deal aims to roll out the first-ever metaverse token designed on the Bitcoin(BTC) network.

Both firms are respected entities in the web3 and gaming arenas, and their alliance aims to challenge Ethereum’s(ETH) dominance in the space.

“The potential for Bitcoin to become more than just a store of value is immense. To achieve that potential, we need to roll up our sleeves and build,” stated Benjamin Charbit, CEO of Darewise Entertainment.

His words show the ambitious nature of the project, given Bitcoin’s original design as a peer-to-peer transaction platform, not necessarily optimized for complex smart contracts and token transactions.

The proposed token will serve as the primary currency for Life Beyond, Darewise’s flagship game. It will facilitate transactions involving in-game assets, virtual lands, and more.

Yat Siu, the co-founder and executive chairman of Animoca Brands, called this a “pivotal moment” for Bitcoin, saying, “high-quality gaming is one of the keys to mass adoption.”

However, some industry experts may question the ability of Bitcoin’s existing infrastructure to accommodate such multifaceted transactions.

Horizen Labs, specializing in zero-knowledge cryptography, will provide technical and consultation services. “We are beyond thrilled to be working with Darewise and Animoca Brands. Our long history with Bitcoin makes this an inspiring project for us,” noted Robert Viglione, CEO of Horizen Labs.

Despite their ambitions,there are hurdles to overcome. For instance, they must demonstrate that a Bitcoin gaming ecosystem can work well and grow.

“We’re essentially testing Bitcoin’s potential in a fast-changing digital world,” said Vincent Marty, chief product officer at Darewise Entertainment. “In the coming months, we’ll reveal tech advancements that will impact not just Life Beyond but also metaverses and games globally.”

09/16/2023

Matter Labs recently announced the launch of a new ecosystem portal for zkSync, managed by DappRadar, in what both partners are calling a step toward fully decentralizing the protocol.

A layer-2 blockchain for Ethereum payments, zkSync was created by Matter Labs as a method for scaling the Ethereum blockchain ecosystem. It currently boasts more than 200 projects and, according to the protocol’s website, has served more than 8.8 million testnet transactions.

09/14/2023

For a second day in a row, gold came close to testing the $1,900 support. And once again, it managed to stay above that fray as buyers turned up to rescue the yellow metal from the cusp of $1,800 territory.

Gold’s latest challenge came as the Dollar Index hit a one-week high to reclaim the 105 berth. The currency shot up as U.S. producer prices and retail sales for August came in higher-than-expected.

This week has been particularly difficult for gold with a series of forecast-beating U.S. inflation data, beginning with Thursday’s Consumer Price Index reading for last month, which showed a growth of 3.7% year-on-year versus the forecast 3.6%.

The dollar was also skewed higher from an ECB rate hike on Thursday that kept alive expectations that the Federal Reserve will follow suit with its own increase — if not at next week’s rate decision, then at least in November or December.

The spot price of gold, which traded as high as $1,930.90 an ounce at one point Monday, fell to as low as $1,901.01 in the latest session. By late afternoon in New York on Thursday, spot gold, which is more closely followed by some traders than gold futures, hovered at $1,908.

Gold’s most-active futures contract on New York’s Comex, December, settled at $1,932.50 an ounce, down just $2.60, or 0.05%, on the day.

“Gold is getting close to the August lows, but as long as Treasury yields don’t have a major move higher, the $1900 level could hold,” observed Ed Moya, analyst at online trading platform OANDA.

Treasury yields, marked by the U.S. 10-year note, hit 4.30 on Thursday, remaining below August’s multi-year high of 4.366.

09/14/2023

Technology innovation with a client-first approach

Capitalizing on technology innovation, the company has earned a reputation for providing best-in-class financial services to retail traders worldwide. With an ECN-focused offering, FXDD provides seamless access to the markets, offering institutional-grade pricing.

The broker’s standard markup-free spreads and 0 slippage ex*****on on entry orders have made it one of the providers of choice. With transaction volumes consistently growing on its MT4, MT5 and WebTrader platforms, FXDD offers trading on both OTC Forex and CFD instruments based on stocks, indices, commodities and metals alongside its revolutionary ability to trade in on-exchange shares, fractional shares and futures via MT5.

“Cost-effective portfolio diversification is crucial in this day and age,” said Joseph Botkier, CEO of FXDD. “Thanks to our ability to provide direct connectivity to OTC and deep multi-asset liquidity, we can cater to the needs of traders of all levels and ensure they benefit from extremely tight pricing on a variety of instruments and asset classes that would otherwise be exclusive to institutional market participants.”

A pioneer of embedded investing, FXDD stands out with its cutting-edge offering of OTC and on-exchange trading and investment services, all on the single MT5 platform. This is truly unique in the retail trading sector, with very few market players being able to offer it.

Embedded investing has been shaking up the financial services arena for over a decade and continues to grow at a rapid pace. By integrating new investor journeys into an already existing infrastructure, FXDD spearheads innovation in the retail trading sector.

“We need to constantly innovate if we want to stay ahead of the curve. Our MT5 Gateway integration increases accessibility to exclusive instruments over the ‘traditionally’ OTC MetaTrader platform, which is truly a game-changer for traders,” Botkier explained. To make the trading experience immersive, the broker gives access to a swathe of trading tools, including advanced charting, economic events and live market news streaming directly on the platform, a built-in marketplace and smart indicators enabling traders to identify opportunities and predict price trends with more precision.

To further enhance the trading experience, the broker has announced that the integration of Autochartist is on the horizon. Autochartist's advanced chart pattern recognition and rapid analysis allow traders to quickly identify intricate market trends. In addition, increased flexibility will allow users to tailor their strategies to different market conditions, while real-time alerts signal potential trading opportunities.

Safety and reliability make the wheel go round

Beyond innovation, the company places a major focus on personalized support and customer safety. WIth a decades-long track record of swift and safe deposits and withdrawals, FXDD enjoys the reputation of a reliable and trustworthy industry player.

In accordance with the licensing and regulatory mandates within its operational jurisdictions, the broker upholds stringent ethical protocols and adheres to industry best practices.

Focus on education

The onboarding process is quick and easy, allowing traders to create an account in a few simple steps and start trading straight away. Once registered, they gain access to valuable educational resources, including daily market analysis, technical and fundamental insights, guides to help them make informed decisions, and a lot more.

Additionally, the array of advanced trading tools empowers traders to grasp opportunities as they arise. Alongside these, the trading calculator, custom ticker price, economic calendar, pricing and MetaTrader 1-minute data offer a wealth of information to keep traders informed and engaged.

FXDD also offers 24/5 multilingual customer support, increasing accessibility to its financial services to a broader international audience and making traders feel ‘at home’ every time they interact with the company.

09/12/2023

The European Union's financial services chief said on Wednesday that a draft law to underpin a digital euro should not be rushed out ahead of European elections next June and instead be examined "quietly and slowly" for the new Commission.

The draft law is an attempt to preserve public money by creating a digital euro that is cash-like and usable offline. The legislative timetable typically grinds to a halt ahead of European Parliament elections and until a new EU executive is appointed later in the year.

09/12/2023

Arm, the chip designer owned by SoftBank Group Corp (9984.T), received enough backing from investors to secure at least the top end of the price range in its initial public offering, which would command a $54.5 billion valuation on a fully diluted basis, a person familiar with the matter said on Tuesday.

Reuters had reported on Sunday that this outcome was likely. After reviewing investor commitments on Tuesday, Arm decided it will only accept the top end of its indicated $47-to-$51-per-share range, or a price that is even higher, the source said.

09/12/2023

Swiss crypto-focused SEBA Bank on Wednesday said it has received an approval-in-principle from Hong Kong's securities regulator that takes it only one step away from offering virtual asset services in the Asian financial hub.

SEBA (Hong Kong), in a statement, said the Securities and Futures Commission will grant licences once it meets conditions for final approval. It will then be able to engage in securities dealing, including crypto-related structured products, and advise on and manage digital assets and traditional securities.

09/12/2023

London Stock Exchange Group (LSEG.L) is looking into using blockchain to build what it described on Monday as "an end-to-end digital market ecosystem to raise and transfer capital across asset classes".

Murray Roos, head of capital markets at LSEG, earlier told the Financial Times that the London-based exchange had been examining the potential for a blockchain-powered trading venue for around a year and had reached an "inflection point".

09/11/2023

Crytocurrency exchange Coinbase Global (COIN.O) is launching a digital asset lending platform aimed at large institutional investors, a company spokesperson told Reuters on Tuesday.

Coinbase has raised $57 million for its new crypto-lending platform, a regulatory filing showed.

The crypto industry, which was reeling from several high profile failures, got a boost last week after a three-judge panel ruled that the Securities and Exchange Commission (SEC) was wrong in rejecting Grayscale's proposed bitcoin ETF without explaining its reasoning.

09/11/2023

Global financial regulators and the International Monetary Fund on Thursday set out a roadmap to coordinate measures that stop cryptoassets from undermining macroeconomic and financial stability.

Such risks are exacerbated by noncompliance with existing laws in some instances, the G20's risk watchdog, the Financial Stability Board, and the IMF said in a paper.

Many of the claimed benefits from cryptoassets, such as cheaper and faster cross-border payments, and increased financial inclusion, have yet to materalise, it added.

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