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Tether’s USDT stablecoin has reached a record 330 million on-chain wallets, marking a 71% increase in just one year, particularly among small holders. This growth reflects a shift towards self-managed assets post-FTX crash, with USDT dominating the stablecoin market, holding 97.5% of the supply and significantly outpacing competitors. Its rising popularity in emerging markets highlights its role in financial inclusion, providing a reliable solution for savings and transactions for those with limited access to traditional banking.
Christoph Künzle from ZHAW highlights the resilience of smaller Swiss private banks, which have outperformed larger institutions in a recent study. However, he warns of challenges ahead due to rising operational costs and stricter regulations, predicting further consolidation in the sector. Künzle emphasizes the necessity for banks to adapt to digitalization and cater to emerging client segments, including crypto investors and female entrepreneurs.
UBS maintains a Neutral rating on Allianz's stock, keeping the target price at €300 after the Group's investor day. The firm does not anticipate significant changes in EPS or capital distribution in light of Allianz's new three-year plan, emphasizing the need for a reassessment for a more favorable valuation.
UBS maintains a Neutral rating on Allianz's stock, keeping the target price at €300 after the Group's investor day. The firm does not foresee significant changes in EPS or capital distribution related to Allianz's new three-year plan, emphasizing the need for a reassessment for a more favorable valuation.
UBS is restructuring its U.S. wealth management business to focus on wealthy clients, excluding the super-rich. The new organization will consist of six divisions, including regional centers, international clients, and a segment for clients with limited assets, primarily served through digital channels. Rob Karofsky will co-lead the U.S. wealth administration division alongside Iqbal Khan, as UBS aims to expand its presence in the U.S. market.
Emirates NBD has welcomed Chainlink as the fifth member of its Digital Asset Lab, enhancing its innovation strategy in digital finance. This partnership aims to advance tokenization and digital asset management, tapping into a market exceeding $1.3 trillion globally. The collaboration will support the development of onchain financial applications, reinforcing the bank's leadership in financial innovation within the MENAT region.
Crypto.com has launched an AED Fiat Wallet for users in the UAE, allowing fee-free deposits and withdrawals in UAE dirhams. This feature, supported by Standard Chartered, enhances the ease of funding accounts for cryptocurrency transactions, marking a significant milestone in the region. Users can set up the wallet easily through the Crypto.com App, ensuring a seamless experience in managing their funds.
Berenberg has appointed Alexandre Denoyelle as the new Head of Sales Management for the German-speaking region of Switzerland, enhancing its distribution efforts. Denoyelle, who has been with the bank since 2020 as a Senior Sales Manager, brings nearly a decade of experience in investment solutions. He will be supported by Simon Steinhoff, who joined the team in October 2024.
UBS is restructuring its US wealth management business, creating six new divisions to better serve clients. The focus will shift towards affluent clients rather than the ultra-wealthy, with regional centers for wealth management and a dedicated "Wealth Advice Center" for clients with lower assets. Rob Karofsky will lead the revamped division, aiming for growth in the US market.
Binance has partnered with Circle to integrate USD Coin (USDC) across its services, aiming to enhance adoption and position USDC as a key asset for corporate treasury operations. This collaboration seeks to expand USDC's reach, offering seamless trading and payment options to Binance's 240 million users. The move also reflects a strategic shift for Binance, which previously discontinued USDC support, as it aims to compete with Tether's USDT in the stablecoin market.
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tether usdt reaches 330 million wallets driving financial inclusion and stability
14:30 11.12.2024
Swiss private banks face challenges and opportunities in evolving financial landscape
13:59 11.12.2024
ubs maintains neutral rating on allianz after investor day insights
12:44 11.12.2024
UBS Maintains Neutral Rating on Allianz Following Investor Day Insights
12:44 11.12.2024
UBS Restructures US Wealth Management to Focus on Wealthy Clients
12:09 11.12.2024
Emirates NBD partners with Chainlink to enhance digital asset innovation
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11:42 11.12.2024
Crypto.com launches fee-free AED wallet for users in the UAE
11:38 11.12.2024
Berenberg appoints new head of sales management for Swiss market
11:17 11.12.2024
UBS Announces Restructuring of US Wealth Management Business to Target New Client Segments
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Binance partners with Circle to boost USDC adoption in crypto market
11:08 11.12.2024
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