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Intesa Sanpaolo Bank buys $1 million in Bitcoin The bank is the first Italian bank to invest in crypto The move is a low-risk experiment with digital assets in preparation for potential client demand In a pioneering move for Italy’s financial sector, Intesa Sanpaolo, the country’s largest bank, has ventured into the cryptocurrency market by purchasing $1 million worth of Bitcoin (BTC). This acquisition marks a significant milestone as the first direct cryptocurrency purchase by a major Italian bank, reflecting the growing acceptance of digital assets in traditional finance. A test in preparation for potential client demands The transaction, which netted Intesa Sanpaolo 11 Bitcoin, underscores a cautious yet optimistic approach towards cryptocurrencies. According to an internal memo and subsequent reports by Reuters, this investment is seen as an experiment within the bank’s vast portfolio, which includes over $100 billion in securities. ...

The rock band Queen and big bank HSBC eye up the metaverse while Yuga Labs launched the next iteration of its NFT gaming saga. HSBC files metaverse and NFT patents British banking institution HSBC filed a series of metaverse and nonfungible token (NFT)-related trademark applications.  A June 12 filing to the United States Patent and Trademark Office (USPTO) show the bank’s trademarks including metaverse banking, consulting, and financial services, along with virtual credit cards that point to a potential launch of a metaverse bank branch and further virtual banking services. #HSBC continues its move into the #Metaverse! The company has filed a new trademark application covering: ️ Metaverse banking, consulting, financial services ️ Virtual credit cards ️ NFTs + NFT-backed media … and much, much more!#NFT #Crypto #Web3 #NFTs #DeFi pic.twitter.com/rb6UdA2Iq3 — Mike Kondoudis (@KondoudisLaw) June 19, 2023 HSBC also applied for trademarks relating to online marketplaces, spe...

Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility. The takeover of the ailing Credit Suisse bank by UBS boosted European equity markets on March 20 but not everyone is happy with the deal. According to Swiss regulator FINMA, the value of additional tier one (AT1) bonds will be written to zero. This move will wipe out $17 billion worth of investments for AT1 bond investors. Among the turmoil in the global banking sector, Bitcoin (BTC) has shone brightly. That is because traders seem to have shifted their focus to the alternative available to the legacy banking system. Another thing working in favor of Bitcoin is that it has decoupled from the United States equities markets and is behaving as an uncorrelated asset class. Daily cryptocurrency market performance. Source: Coin360 Bitcoin’s solid rally in the past few days has boosted trader sentiment. The Crypto Fear and Greed Index h...