{"id":500891,"date":"2022-10-14T21:30:00","date_gmt":"2022-10-14T18:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\/"},"modified":"2022-10-14T21:30:00","modified_gmt":"2022-10-14T18:30:00","slug":"crypto-biz-470b-bank-enters-crypto-probably-nothing-right","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\/","title":{"rendered":"# Crypto Biz: $470B bank enters crypto \u2014 Probably nothing, right?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c17090a322\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c17090a322\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\/#%E2%80%9D_Crypto_Biz_470B_bank_enters_crypto_%E2%80%94_Probably_nothing_right_%E2%80%9C\" >&#8221; Crypto Biz: $470B bank enters crypto \u2014 Probably nothing, right? &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\/#BNY_Mellon_Americas_oldest_bank_launches_crypto_services\" >BNY Mellon, America\u2019s oldest bank, launches crypto services<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\/#SWIFT_action_JPMorgan_and_Visa_team_up_on_cross-border_blockchain_payments\" >SWIFT action: JPMorgan and Visa team up on cross-border blockchain payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\/#Cryptocom_invests_145M_in_new_European_headquarters\" >Crypto.com invests $145M in new European headquarters<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\/#Stellar_Development_Foundation_launches_100M_fund_to_support_native_smart_contract_adoption\" >Stellar Development Foundation launches $100M fund to support native smart contract adoption<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\/#Before_you_go_25K_or_15K_BTC_%E2%80%94_what_comes_first\" >Before you go: $25K or $15K BTC \u2014 what comes first?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto_Biz_470B_bank_enters_crypto_%E2%80%94_Probably_nothing_right_%E2%80%9C\"><\/span>&#8221; Crypto Biz: $470B bank enters crypto \u2014 Probably nothing, right? &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvZjFjMjMyMzUtZWU4Mi00ZjczLTg2NjQtOTVkZjlkNTY0NzIzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>As crypto traders debate whether Bitcoin (BTC) is going to $25,000 or $15,000 first, the world\u2019s largest financial institutions are laying the groundwork for mass adoption. The proverbial floodgates are unlikely to open before the United States provides a clear regulatory framework for crypto, but regulators and industry insiders are confident that guidance could come in 2023 at the earliest. In the meantime, megabanks like BNY Mellon, whose roots date back to 1784, are entering the space.\u00a0<\/p>\n<p>This week\u2019s Crypto Biz chronicles BNY Mellon\u2019s foray into digital assets, JPMorgan\u2019s ongoing experimentation with blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and Crypto.com\u2019s new European headquarters. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"BNY_Mellon_Americas_oldest_bank_launches_crypto_services\"><\/span>BNY Mellon, America\u2019s oldest bank, launches crypto services<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Arguably the biggest story of the week was <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of another established financial institution entering the crypto sphere. BNY Mellon, whose predecessor was founded 238 years ago, announced the launch of a digital custody platform to safeguard clients\u2019 Bitcoin and Ether (ETH) holdings. \u201cWith Digital Asset Custody, we continue our journey of trust and innovation into the evolving digital assets space while embracing leading technology and collaborating with fintechs,\u201d said Roman Regelman, the bank\u2019s CEO of securities services and digital. To get a sense of just how massive BNY Mellon is, the bank holds over $470 billion in assets under custody as of 2021. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"SWIFT_action_JPMorgan_and_Visa_team_up_on_cross-border_blockchain_payments\"><\/span>SWIFT action: JPMorgan and Visa team up on cross-border blockchain payments<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>JPMorgan continues to experiment with blockchain technology and digital assets even after its CEO attempted to dismiss the sector as a Ponzi scheme. Now, the U.S. financial institution is partnering with Visa to streamline the use of its private blockchain for cross-border payments. The partnership centers around JPMorgan\u2019s Liink blockchain, which has been designed specifically for cross-border transfers, and Visa\u2019s B2B connect, a cross-border payment network for banks. As Cointelegraph reported, it seems like the duo wants to develop an alternative to SWIFT, the dominant global network for secure messaging and transactions. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cryptocom_invests_145M_in_new_European_headquarters\"><\/span>Crypto.com invests $145M in new European headquarters<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>2021 was the year of sponsorships for Crypto.com. Now, 2022 is shaping up to be the year of regulatory <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>rovals. In light of regulatory traction in Europe, the crypto exchange announced this week that Paris, France, would become its new European headquarters. The company plans to spend roughly $145.7 million to establish its presence in France. Additional resources will be allocated to boosting the exchange\u2019s presence across the region. It looks like Crypto.com is positioning itself for the next bull market. Most of its casual retail users probably won\u2019t open the app until then.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bonjour Paris <\/p>\n<p>We\u2019re excited to deepen our commitment and presence in France, by making Paris our new European regional HQ <\/p>\n<p>Full details:<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/nBoixpyMHi\">https:\/\/t.co\/nBoixpyMHi<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/EhkbKYUOZQ\">pic.twitter.com\/EhkbKYUOZQ<\/a><\/p>\n<p>\u2014 Crypto.com (@cryptocom) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptocom\/status\/1580182254050938880?ref_src=twsrc%5Etfw\">October 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Stellar_Development_Foundation_launches_100M_fund_to_support_native_smart_contract_adoption\"><\/span>Stellar Development Foundation launches $100M fund to support native smart contract adoption<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Stellar doesn\u2019t get nearly as much airtime as it did during the 2017 crypto bubble, but the network is still working to spur adoption and innovation on its Soroban smart contract platform. This week, Stellar Development Foundation (SDF), the nonprofit organization supporting the development of the Stellar network, announced it had launched a $100 million fund to incentivize developers to build on Soroban. Timer Weller, SDF\u2019s vice president of technology strategy, told Cointelegraph that Soroban was developed to overcome the \u201cfriction\u201d of existing blockchain networks. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Before_you_go_25K_or_15K_BTC_%E2%80%94_what_comes_first\"><\/span>Before you go: $25K or $15K BTC \u2014 what comes first?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bitcoin\u2019s price action is starting to look eerily similar to 2018\u2019s \u201crange from hell.\u201d And we all know what happened after that (BTC would eventually plunge from $6,000 to roughly $3,200, marking the final bottom for the cycle). In this week\u2019s Market Report, I sat down with Benton Yaun to discuss BTC\u2019s price trajectory and how the latest CPI inflation data could impact the market. You can watch the full replay below.<\/p>\n<p><iframe loading=\"lazy\" title=\"$25K or $15K BTC \u2014 CPI and US inflation data coming out on Thursday!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/vCb9Vj37yUI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>Crypto Biz is your weekly pulse of the business behind blockchain and crypto delivered directly to your inbox every Thursday.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-biz-470b-bank-enters-crypto-probably-nothing-right\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto Biz: $470B bank enters crypto \u2014 Probably nothing, right? &#8220; As crypto traders debate whether Bitcoin (BTC) is going to $25,000 or $15,000 first, the world\u2019s largest financial institutions are laying the groundwork for mass adoption. The proverbial floodgates are unlikely to open before the United States provides a clear regulatory framework for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":500892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvZjFjMjMyMzUtZWU4Mi00ZjczLTg2NjQtOTVkZjlkNTY0NzIzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[93248,74860,75719,74889,75937,82570,117,70792],"class_list":["post-500891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bny-mellon","tag-cryptocurrency-exchange","tag-funding","tag-payments","tag-stellar","tag-swift","tag-business","tag-jpmorgan-chase"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/500891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=500891"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/500891\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/500892"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=500891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=500891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=500891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}