Wall Street bank Citi and crypto exchange Coinbase are teaming up to "boost digital-asset payment capabilities" for the bank's institutional clients. In the initial phase, the bank will fiat pay-ins and payouts and improve orchestration to better bridge traditional finance with crypto on- and off-ramps, Citi said in a press release. “The financial landscape is changing fast, and we’re thrilled to join Coinbase to explore new and innovative payment options for our global clients,” Debopama Sen, the head o ...

Crypto.com has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter, a step it says would expand its federally supervised crypto-custody services for institutions. In Friday’s announcement, the exchange framed the filing as an extension of its regulated, security-first push for large customers — ETF sponsors, corporates and advisers — focused on custody and staking-adjacent trust services across multiple blockchains. The company did not provide a review tim ...

Core Insights - Gemini's shares opened at $41, reflecting a 45% increase from the IPO price of $28, which valued the company at approximately $3.3 billion [1] - The company raised $425 million by selling 15.2 million shares, despite reporting a net loss of $283 million in the first half of the year [1] - Gemini secured a $50 million strategic investment from Nasdaq to enhance its crypto custody services for institutional clients [2] Financial Performance - Gemini reported a net loss of $283 million in H1 2024, following a total loss of $159 million for the entire year of 2024 [1] - The IPO was priced above initial expectations, indicating strong market interest despite the company's financial losses [2] Market Context - The IPO of Gemini is part of a trend where other crypto-native platforms like Circle, Bullish, eToro, and Figure Technologies have also gone public this year [3] - The capital market for crypto firms appears to be thriving, supported by favorable U.S. regulatory actions [3]

JUST IN: 🇷🇺 Russia's largest bank 'Sberbank' to offer crypto custody services. ...