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Compilation | Major Events of Financial Institutions Entering the Digital Assets in 2020

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Compilation | Major Events of Financial Institutions Entering the Digital Assets in 2020

PayPal announced its foray into cryptocurrency trading and payments, while DBS Bank is set to launch a digital asset exchange, marking exciting developments for cryptocurrencies in traditional finance in October. Media outlet The Block has compiled a list of events in 2020 where financial institutions have engaged in cryptocurrency-related activities. For more details, please refer to the compiled news by ChainNews.

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PayPal announced its foray into cryptocurrency trading and payments, while DBS Bank will launch a digital asset exchange. The progress of cryptocurrencies in traditional finance in October is exciting. Media outlet The Block has compiled events in 2020 where financial institutions have been involved in cryptocurrency-related businesses. Here are some of the compiled events to learn more:

  • The U.S. Office of the Comptroller of the Currency (OCC) announced that financial institutions are free to provide cryptocurrency custody services to the public
  • Is it becoming mainstream? Anonymous sources claim that PayPal has selected cryptocurrency exchange service provider "Paxos"
  • Not a joke! UK cryptocurrency bank Revolut gives users legal ownership, how did they achieve that?
  • Breaking News: Cryptocurrency debit card company Wirex obtains issuance qualification from Mastercard
  • Video: What did Ant Group's blockchain launch event say about "AntChain"?
  • Powerful collaboration! ConsenSys acquires JPMorgan's blockchain platform "Quorum"
So many financial institutions have ventured into digital asset businesses in 2020!
  • CBDC: Mastercard launches a simulation platform to assist countries in testing and issuing central bank digital currencies
  • Square establishes nonprofit organization COPA to prevent "patent trolls" from invading the cryptocurrency community
  • Federal regulators state that banks and savings institutions can provide reserve custody services for stablecoin issuers
  • Another Robinhood? PayPal's compliance and security card: Wallet purchases of cryptocurrencies cannot be transferred, let alone withdrawn
  • JPM Coin, the stablecoin from JPMorgan, is nearing launch and will be used for commercial transactions by large multinational companies this week
  • What is DBS Bank's digital exchange? It may include cryptocurrencies, STOs, and custody services