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OKX has launched its Web3 wallet and crypto exchange service in the Netherlands. The exchange will offer spot trading, crypto convert and other services, with support for 150 cryptocurrencies. OKX holds regulatory approval from De Nederlandsche Bank (DNB), the central bank of the Netherlands. Crypto exchange OKX has officially launched its Web3 wallet and exchange platform in the Netherlands. The expansion brings OKX’s crypto services , including spot trading, to the exchange ’s customers in the country, according to an announcement published on Monday, June 3. OKX to support over 150 cryptocurrencies According to the CEX platform, Dutch customers can now spot trade (buy and sell) as well as convert over 150 crypto currencies. Customers will have access to up to 60 euro- crypto trading pairs. OKX has integrated with iDeaL, a local payment platform, for deposits and withdrawals in EUR. Users will also enjoy free, instant deposits via the popul...

Gemini, a cryptocurrency exchange founded by the Winklevoss twins, will reportedly cease operations in the Netherlands due to regulatory requirements imposed by the De Nederlandsche Bank (DNB).  According to Reddit sources, the exchange notified its clients in the country of its decision to take effect on Nov. 17, 2023. You might also like: Genesis went bankrupt months after Gemini reportedly withdrew $282M in crypto Gemini cited the DNB’s regulations on crypto exchanges as the reason for the move. However, it has not issued a public statement on the matter.  The letter read in part: “We are getting in touch to inform you that Gemini will stop offering crypto services to the Dutch market on Nov. 17, 2023. This is due to requirements imposed by the De Nederlandsche Bank (DNB) on crypto exchanges. It is now our top priority to make the transition of your fiat and crypto assets off Gemini as easy and seamless as possible.” Swisstronik, a Swiss web3...

Bybit will stop new account registrations on October 1 and end pause deposits and other services for existing customers on October 8. The exchange’s announcement comes ahead of the effective date for new FCA rules for crypto firms. Bybit has notified its customers that it will suspend its services in the UK next month as it looks to align operations with new regulatory requirements. According to the Crypto exchange , the decision is “ in light of the UK Financial Conduct Authority’s introduction of new rules regarding marketing and communications by crypto businesses as outlined in the June 2023 Policy Statement (PS23/6) entitled “Financial Promotion Rules for Crypto assets .” The suspension will allow the exchange to focus resources on meeting the new regulation, Bybit said in the announcement. No new customer registrations beginning October 1 No new registrations will be allowed as from October 1, while services to existing ...

Deutsche Bank will offer crypto custody services for institutional investors. Deutsche Bank in a World Economic Forum paper in 2020 expressed intentions of offering crypto trading. The bank has however clarified that it currently does not have plans to offer crypto trading. Deutsche Bank has partnered with Taurus, a Swiss cryptocurrency firm, to offer digital assets and tokenized financial instruments custody services for institutional clients. This collaboration marks a significant development as it enables Deutsche Bank to hold a limited selection of cryptocurrencies and tokenized versions of traditional financial assets on behalf of its clients, a capability confirmed by a Deutsche Bank spokesperson. However, the bank has clarified that it currently does not have immediate plans to engage in cryptocurrency trading, despite previously expressing such intentions in a World Economic Forum paper in 2020. Crypto interest among institutional investors The cry...

Ant Group, Alibaba’s fintech arm, is rumored to exclude blockchain development from its primary financial business in China to pave the way for a Hong Kong IPO. Ant Group Co., a fintech affiliate of the Chinese e-commerce giant Alibaba, is contemplating a significant organizational overhaul. It would divest some non-essential functions from its core financial business in China, insiders told Bloomberg. Ant Group is considering the separation of its blockchain , database management, and global operations from its principal entity as part of this strategy. According to the insiders, the spin-offs are part of a larger plan to secure a financial holding license in China. Ant Group has reportedly communicated this information to a select group of shareholders. On the successful completion of the proposed restructuring and acquisition of the financial holding license, Ant Group will potentially revive its plans for a Hong Kong IPO. The company will go for one exchange listing inst...