By coinbreze on The CapitalBanking has always played a key role in the cryptocurrency industry. From the beginning of the crypto industry, banking collaboration has spread positive energy to the industry. Cryptocurrency holds a major benefit if it is linked to banks as there you can have access to the crypto to fiat exchange. The banking system is always looking forward to business with the crypto industry because of the growing interest among people. Recent partnerships between banks and the crypto industry not only boost the banking industry but also help both people and the cryptocurrencies.New approaches to the crypto industry lead to a new chapter for the banking sector. The recent announcement from the Bank of America is opening up another big route. Decentralized blockchain ripple technologies will shortly be obtained. However, before the DLT, Bank of America had already adopted the payment network system of Ripple Blockchain.Another bank is ready to welcome the blockchain technology in their country. From a recent report, it is disclosed that the company is expanding to South East Asia. Nevertheless, banking institutions are among the hardest hit by emerging technologies, one of which is Ripple. Recently, the company launched the liquidity offering, adding other leading industry players into the program. The company is currently extending its presence to Japan and Thailand.The ability to conduct a trustworthy and fast network for money transactions, blockchain technology is embraced by several banking institutes. Bank of Asia now collaborates with ripple blockchain to lead the trend of the fast payment system. The headquarter present in Bangladesh and this friendship will open a new path for blockchain and cryptocurrency in Bangladesh.The bank has been considered a public limited commercial bank in Bangladesh and has been one of the country’s largest commercial banks since 1991. According to an employee of the Bank of Asia, Ripple designs and incorporates technologies that control the operations of the Banks. The main objective of the company is to connect banks to the Ripple ecosystem.Another bank is integrating with cryptocurrencies under the regulatory framework. Since 2017, the Russian Government has been drawing up a bill to regulate cryptocurrency and related activities, such as initial coin offerings (ICOs) and transactions with fiat currencies such as the ruble. While officials had previously indicated that the bill was nearing completion, Binance CEO Changpeng Zhao hinted in a speech last October that Russian officials remained indecisive.Now the Central Bank of Russia allows the tokenization of assets. This approach is having a major effect in the crypto industry and permits the tokenization of cryptocurrencies and other equities.One of the biggest ventures ever to emerge out of CBR’s regulatory sandbox since it was released in April 2018; the tokenization program was founded by Nornickel, a Russian mining, and smelting firm. Even authorizing companies to coin “hybrid coins” supported by different assets at the same time, the program will go into effect after Russia’s blockchain bill is passed into law.The Bank of Britain will consider how Britain could adopt a digital currency of bitcoin style as part of a global group of central banks that have united to examine potential barriers in electronic money relying on.The Bank will meet with officials from the Bank of Japan, the European Central Bank (ECB), the Bank of Canada, the Swiss National Bank (BIS) to pool research and experiments with digital central Bank (CBDC) potential.Sir Jon Cunliffe, Deputy Governor of the BoE, will co-chair the body with former EBC member Benoît Cœuré and Head of the BIS Center for Innovation. Globally, a proposal has become increasingly mooted for a central bank’s digital currency to boost payment systems and purchases.The Cunliffe Group will also work closely with other global forums and groups such as the Financial Stability Board and the Cunliffe-chaired Committee on Payments and Market Infrastructure (CPMI).Now Germany is also ready to jump in the crypto custody business. Almost 40 financial institutes are planning to open crypto services in the bank for their clients under a new regulatory framework. The German newspaper Handelsblatt announced on Monday that BaFin obtained more than 40 interest expressions from banks for potential permission to run a crypto custody company.In fall 2019, it was welcomed that some in the industry proposed legislation were a step towards making Germany a “crypto-heaven.” The bill’s final version was designed to simplify banking cryptocurrency-related operations and facilitate easier reliance on external crypto-currency guardian companies or dedicated subsidiary companies.The German Banks ‘ Association, a major lobbying group of more than200 financial institutions supported by the new law, argued that supervised banks have adequate expertise and risk mechanisms in place for safeguarding customer assets.BitGo, a leading digital investment company business, extended its regional footprint earlier this week by creating two new custodial controlled agencies in Europe, one in Germany.Also, a local Yonhap Infomax report states that the Bank of Korea was looking for a blockchain service provider to develop a blockchain bond network which would allow all participants to share bond records.A local official has allegedly confirmed the possibility that blockchain has been tested by South Korean financial authorities to issue state bonds in order to record trading. According to Yonhap Infomax, blockchain bond market study from the Bank of Korea is being carried out with regard to the World Bank and the Commonwealth Bank of Australia’s alleged first-ever blockchain bond activity in 2018.In order to re-structure bond operating records currently held by the Korean Securities Depository to the blockchain-friendly record base accessible by multiple nodes, the Bank of Korea reportedly launched it is Proof of Concept (PoC) project in late 2019.Like these banking institutions, much more finance companies are preparing for potential blockchain payment systems such as ripple, stellar, ethereum, blockchain, and so on. Like rapidly growing elevation channels increase worldwide popularity. Bakers are therefore developing their industry with blockchain technology. Several blockchain ventures in financial industries are now being launched. Banking businesses are about to see a new direction in 2020.https://www.coinbreze.com/Telegram: https://t.me/coinbrezeTwitter: https://twitter.com/coinbrezeFacebook: https://www.facebook.com/CoinbrezeThe Capitalhttps://medium.com/media/3b6b127891c5c8711ad105e61d6cc81f/hrefBanking sectors are now speeding up with cryptocurrency project for 2020 was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.