Germany’s savings banks, a conservative bastion that holds over 1 trillion euros, is considering offering a wallet to trade cryptocurrencies as interest in these assets is “huge.” A spokesperson for the association said no decision has yet been taken.

Brazil’s only stock exchange, B3, is planning to enter the cryptocurrency market next year, according to reports citing a presentation from B3 President Gilson Finkelztain. The exchange is reportedly exploring opportunities in the asset tokenization, digital asset custody, and crypto-as-a-service segments.

The Bank of England has warned that the rapid growth of cryptoassets could pose stability risks to the financial system, even though direct risks are considered to be “limited.”

Sponsored: You’ve probably heard all about Curve Finance, the popular decentralized exchange for stablecoins, but may be put off by having to manage another on-chain wallet. Bybit has simplified the process for users like you, so you can get easy access to DeFi on Bybit.

Top stories in the Crypto Roundup today:

• Germany’s Trillion-Euro Savings Banks Consider Crypto Wallet
• Brazil Stock Exchange B3 to Enter Crypto Market
• Bank of England Warns Crypto Market’s Rapid Rise Could Pose ‘Stability Risks’
• What are Axie Infinity Shards (AXS)?
• Sponsored: Check Out The Newest Liquidity Mining Pool on Curve Finance

Germany’s Trillion-Euro Savings Banks Consider Crypto Wallet

Germany’s savings banks, a conservative bastion that holds over 1 trillion euros, is considering offering a wallet to trade cryptocurrencies as interest in these assets is “huge.” A spokesperson for the association said no decision has yet been taken.

The German Savings Banks Association is entrusted with the savings and investments of roughly 50 million customers, making it Germany’s biggest financial group. The move comes against a backdrop of high inflation at a time in which banks and savers face negative interest rates in the country.

Negative interest rates have prompted Germans to invest more in property and elsewhere to avoid what has been dubbed the “expropriation” of their wealth.

Helmut Schleweis, president of the German Savings Banks Association, last month said the combination of low interest rates and rising prices is a “toxic mix” that makes it harder to stop the erosion of wealth.

Brazil Stock Exchange B3 to Enter Crypto Market

Brazil’s only stock exchange, B3, is planning to enter the cryptocurrency market next year, according to reports citing a presentation from B3 President Gilson Finkelztain. The exchange is reportedly exploring opportunities in the asset tokenization, digital asset custody, and crypto-as-a-service segments.

The São Paulo-based trading platform is considering services to facilitate over-the-counter trading and access to liquidity centers. Finkelsztain noted in the presentation it is “natural” for the exchange to expand “into the unregulated world of cryptocurrencies.”

While B3 is not planning to be a crypto exchange, it expects to launch a crypto exchange-traded fund (ETF) in the future. Brazilian companies have so far launched five crypto ETFs.

Earlier this year Brazil’s Central Bank said B3 could serve as the blockchain leader for the smart contract system of a potential central bank digital currency.

Bank of England Warns Crypto Market’s Rapid Rise Could Pose ‘Stability Risks’

The Bank of England has warned that the rapid growth of crypto assets could pose stability risks to the financial system, even though direct risks are considered to be “limited.”

The central bank’s  Financial Policy Committee noted that crypto assets are becoming more interconnected with the wider financial system, adding that enhanced regulatory and law enforcement frameworks are needed to manage risks.

The central bank added it believes financial institutions should take a “cautious and prudent approach” to any adoption of crypto assets until a regulatory regime is in place.

In its report, the bank’s Financial Policy Committee conceded crypto assets currently represent a small fraction of institutional investor portfolios, but added they have the potential to grow rapidly.

What are Axie Infinity Shards (AXS)?

Axie Infinity Shards (AXS) are the governance token of the popular blockchain-based game Axie Infinity. The game was created by SkyMavis and allows players to earn income through non-fungible tokens (NFTs), by breeding, battling, and trading digital pets called Axies.

Players need AXS tokens to trade Axies and can stake their coins to earn weekly rewards and participate in the protocol’s governance. New players have to buy at least three tokens, priced in ether, to truly participate in the game.

Each Axie is an NFT on its own with different attributes. These pets can enter battles to earn experience points and more. They can also be bred together to create new Axie NFTs with different attributes. These new Axies can then be used or sold on the Axie marketplace.

Bybit’s DeFi Mining - Check Out The Newest Liquidity Mining Pool on Curve Finance

You’ve probably heard all about Curve Finance, the popular decentralized exchange for stablecoins, but may be put off by having to manage another on-chain wallet. 

Bybit has simplified the process for users like you, so you can get easy access to DeFi on Bybit. 

All you have to do so:

1. Choose among 7-, 14-, and 21-day product plans.
2. Stake USDT. 
3. Sit back and collect your rewards.

It’s that easy. 

Terms and conditions apply. Check it out now!

Press Release

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.