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Germany's Commerzbank and DZ Bank To Offer Bitcoin and Crypto Trading
Published
2 months agoon
By
adminGermany’s two of the largest five banks, Commerzbank and DZ Bank, are launching Bitcoin and crypto trading services amid growing institutional demand.
JUST IN: 🇩🇪 $500 billion Commerzbank to offer #Bitcoin and crypto trading. pic.twitter.com/KrOCOx5N9P
— Bitcoin Magazine (@BitcoinMagazine) September 19, 2024
Commerzbank, the country’s second-biggest bank by number of branches, signed a deal with Deutsche Boerse’s subsidiary Crypto Finance to provide trading access for corporate clients. DZ Bank, the nation’s number two lender, is enabling its 700 cooperative banks to offer Bitcoin and crypto trading via a tie-up with the Boerse Stuttgart exchange.
The moves come just weeks after Zurich Cantonal Bank in Switzerland began offering retail Bitcoin and crypto services. Major banks worldwide are increasingly embracing Bitcoin and crypto following the successful launch of the first U.S. Bitcoin ETFs.
“Our offering in digital assets enables our corporate clients to seize the opportunities presented by Bitcoin and ether for the first time,” said a Commerzbank executive.
DZ Bank and Commerzbank represent over $1 trillion in combined assets under management. Their entry significantly expands mainstream access to Bitcoin in Europe’s largest economy. DZ Bank’s head of trading said professional investors are rapidly allocating to Bitcoin and crypto, making regulated services crucial for portfolio diversification and risk management.
The moves are a milestone for Bitcoin’s integration into European finance. With leading banks providing access, Bitcoin is now going more mainstream.
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bank
Six US Banks Issue Urgent Debit Card Alerts, Forcing Mandatory Replacements for Many, After Third-Party Security Breach
Published
6 days agoon
November 16, 2024By
adminSix US banks are reporting potential security breaches of debit cards, with several forcing affected customers to get replacements.
In new filings with the Massachusetts state government, Mainstreet Bank, Savers Bank, The Village Bank, Watertown Savings Bank, Webster Five Cents Savings Bank and Eagle Bank say some debit cards may have been compromised following a security breach of a merchant’s payment card platform.
A copy of a notice sent to Eagle Bank customers was recently posted on the government site, stating an unnamed Mastercard merchant allowed unauthorized access to account information.
A notice to customers at The Village Bank and a letter to customers at Savers Bank also pinpoint a merchant breach.
Says Savers Bank,
“We have been notified by MasterCard International of a suspected security breach of a merchant’s network, transactions that may have compromised some of Savers Bank’s debit card numbers.”
Affected customers at Eagle Bank and Savers Bank will receive new cards automatically.
Webster Five Cents Savings Bank offers fewer details on the source of the breach, but says it’s also issuing mandatory new debit cards.
Watertown Savings Bank is asking customers to be vigilant, issuing new cards upon request.
“The breach included the capture of some of your personal information, such as your name and card number…
…we do ask that you remain vigilant on monitoring your account activity for the next 12 to 24 months and report any unusual or suspicious activity immediately. If you prefer that we issue a new card please contact the bank.”
Mainstreet Bank says the breach occurred “June 28, 2023 through April 26, 2024” and involved personally identifiable or protected data.
“We have reason to believe that some of our customers may have had their card data compromised (which could include card names, numbers, and card expiration dates) in the incident.”
Mainstreet Bank is giving customers who would like to take extra precautions the option to receive a new card.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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$18,883 Drained From Wells Fargo Account, Bank Says Reimbursement Not Happening, Customer Says She’s Leaving
Published
3 weeks agoon
November 2, 2024By
adminA Wells Fargo customer says she’s done with the bank after an impostor posing as the lender drained $18,883 from her account.
Colorado resident Melanie Sponselee says she received an alert on her phone that appeared to be from Wells Fargo asking if she had made a large transaction, reports the NBC-affiliated news station 9News.
She replied “no,” and immediately received a phone call from someone pretending to be with the bank, claiming her accounts were compromised and that they would help her open a new one.
After talking with the scammers, Sponselee says she quickly began to worry she was being duped and raced to Wells Fargo.
“There’s a branch down the street from my house. I got on the phone, got in my car, five minutes later after I got off the phone, I walked into the branch. They were like – oh, I’m sorry. We don’t have an appointment until 1pm.
Also, on the way to Wells Fargo, I called the bank five times, and every time I tried to ask for help the call kept getting dropped. That happened six times.”
Ultimately, the scammers stole $18,883 via wire transfer. Wells Fargo contacted the corresponding bank and says it clawed back $3,300.
The bank refuses to refund the rest.
“My expectations would have been, when I asked for help, to immediately help me. Immediately. Take it seriously.
And also, that they would protect me, that they would back me up. They would fix it.”
When asked about its decision to not reimburse, Wells Fargo repeated what it told Sponselee – wire transfers are usually irreversible, even if a customer reports the crime quickly.
The bank has declined to answer specific questions about Sponselee’s case.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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FV Bank and Visa launch new cards to merge crypto and USD
Published
4 weeks agoon
October 28, 2024By
adminFV Bank and Visa have partnered to introduce new debit and corporate expense cards, which were announced at Money 20/20 in Las Vegas.
FV Bank’s new Visa cards let customers spend fiat and digital assets globally, marking a first in integrated banking and crypto solutions for individuals and businesses.
According to the bank, these cards will allow FV Bank customers, both in the U.S. and internationally, to access and spend funds from their traditional USD and digital asset balances, offering global payment options at millions of locations.
Fiat or crypto
With these cards, FV Bank clients can spend or withdraw cash from their bank accounts, either through traditional funds or by converting digital assets such as Bitcoin (BTC), Ethereum (ETH) and stablecoins like USDC (USDC).
This means users with cryptocurrency held in FV Bank’s custody accounts can now instantly convert and use their assets in real-world transactions. The bank’s principal Visa membership also ensures cardholders have access to various payment methods, including tap-to-pay, chip, and magstripe.
Corporate clients benefit from expense cards that allow companies to set spending limits, authorize specific users, and track expenses in real time, all manageable via FV Bank’s app.
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