Latest News
Word Bank Pandemic Fund launches second round with $500 million
By Globe Banner | Jan 8, 2024
The World Bank has announced that its Pandemic Fund’s Governing Board has approved a grant envelope of $500 million for its second round of funding. The goal is to assist low- and middle-income countries in bolstering their preparedness for future pandemics. This substantial funding is accessible to any country eligible for funding from the International Bank for Reconstruction and Development (IBRD) and/or the International Development Association (IDA).
Citi structures social trade loan for Fundación Génesis Empresarial to boost financial inclusion in Guatemala
By Globe Banner | Jan 3, 2024
Citi has announced a social trade loan in local currency for Fundación Génesis Empresarial, a microfinance institution. The loan is intended to promote sustainable growth in underserved communities. Génesis Empresarial plans to use the funds to extend productive credits to low-income individuals and entrepreneurs in Guatemala, fostering inclusive economic growth.
U.S. regulators acknowledge Binance's compliance improvements
By Globe Banner | Dec 21, 2023
Binance, the world's leading cryptocurrency exchange, has announced that U.S. regulatory agencies have not only confirmed the company's historical compliance issues but also acknowledged the efforts it has made to rectify them. This announcement comes after Binance reached a resolution with the U.S. government in November.
Former regulator faces pushback for ‘delusional’ characterization of Binance founder
By Globe Banner | Dec 20, 2023
John Reed Stark, former head of the Office of Internet Enforcement at the U.S. Securities and Exchange Commission (SEC), drew a comparison between Changpeng Zhao's (CZ) compliance violations during his tenure as CEO of crypto exchange Binance and "mass murder." This characterization was disputed by Allan Endresz, founder of digital peer-to-peer currency Zucoins, who highlighted that numerous traditional banking executives have committed similar violations yet faced less severe consequences.
CME Group unveils global NDF trading venue to boost access and liquidity
By Globe Banner | Dec 12, 2023
CME Group has unveiled plans to consolidate its two non-deliverable forward (NDF) liquidity pools on the EBS Market platform into a single trading venue. This strategic move will enable customers to trade 1-month Asian NDFs, LatAm NDFs, and African NDFs on the platform.
Okse co-founder: Binance data shows ‘vote of confidence’ in new CEO
By Globe Banner | Dec 12, 2023
Elja Boom, co-founder of cryptocurrency wallet provider Okse, recently stated that the financial data from Binance indicates a sustained level of user confidence in the exchange. This comes after Binance reached a settlement with the U.S. government last month. According to Boom, Binance continues to be the largest cryptocurrency exchange globally in terms of visible on-chain assets.
Citi spearheads strategic investment in Colombian fintech Supra
By Globe Banner | Dec 12, 2023
Citi has revealed its participation in a strategic investment round for Supra, a fintech firm based in Colombia. Supra is known for offering cross-border payments and treasury solutions specifically designed for small and medium-sized businesses (SMBs) that are involved in import and export activities.
Binance CEO: After DOJ settlement, 'new partners are now approaching us'
By Globe Banner | Dec 7, 2023
Richard Teng, the recently appointed CEO of Binance, expressed optimism about the company's future during an X Spaces event on Dec. 1. He indicated that new organizations are showing interest in partnering with Binance following its resolution with the U.S. government. Binance, which is the world's largest cryptocurrency exchange, shared Teng’s comments in a post on its website dated Dec. 4.
Citizens Holding Group voluntarily leaves NASDAQ
By Globe Banner | Dec 5, 2023
Citizens Holding Company revealed last week its decision to voluntarily deregister their common stock and delist from the NASDAQ Global Market. The holding company operates a single bank, headquartered in Philadelphia, Mississippi.
Citi partners with Traydstream for enhanced document services
By Globe Banner | Dec 4, 2023
Citi, a multinational investment bank, has announced its collaboration with Traydstream, an innovative trade documentation solutions provider. This partnership seeks to provide clients with superior and automated processing of trade documents.
Leading crypto exchange participates in Hong Kong Police Force's crime course
By Globe Banner | Dec 4, 2023
Binance, the world's leading cryptocurrency exchange, recently collaborated with the Hong Kong Police Force (HKPF) Commercial Crime Bureau's (CCB) for a Commercial Crime Advanced Course. This engagement was carried out from November 29 to December 1 at the Hong Kong Police Headquarters.
Attorney: Binance-DOJ settlement is 'very different than FTX and SBF'
By Globe Banner | Nov 30, 2023
Attorney John Deaton, a managing partner of Deaton Law Firm, said he believes Binance's assertion that it backs all of its users' funds 1:1 is truthful because the government would have discovered it if it wasn't during its investigation into the company. He presented his perspective in a video on November 28, pointing out the contrast between Binance's and failed crypto exchange FTX's situations.
Citi finalizes sale of Indonesia Consumer Banking Division to UOB
By Globe Banner | Nov 22, 2023
Citi announced the completion of the sale and migration of its Indonesia consumer businesses to UOB Indonesia (UOBI), covering retail banking, credit card, and unsecured lending businesses, along with employee transfers. The sale of these consumer businesses to UOB has generated a regulatory capital benefit of around US$1.1 billion. This move is part of Citi's larger strategic plan to exit consumer banking in various global markets.
Japan's central bank finally expected to come back to monetary stimulus
By Globe Banner | Nov 19, 2023
Reuters reports that some of Japan's biggest employers are going to include new pay hikes in 2024, pushing the average household spending. This move is seen as a strategic effort to stimulate economic growth amidst pressures of inflation and labor shortages.
Citi to serve as depositary bank for Will Semiconductor's GDR Program
By Globe Banner Report | Nov 15, 2023
Citi announced that Will Semiconductor Co., Ltd. Shanghai ("Will Semiconductor") has selected Citi's Issuer Services represented by Citibank as the Depositary Bank for its Global Depositary Receipt ("GDR") Program. The GDR Program was initiated alongside a $445 million offering of GDRs by Will Semiconductor, priced at $14.35 per GDR, according to a press release by Citi.
Citi releases its 'Treasury Leadership: Does it Matter?’ study report
By Globe Banner Report | Nov 15, 2023
Citi recently unveiled its latest study, "Treasury Leadership: Does it Matter?" indicating that companies fostering treasury teams as industry leaders experienced improved financial performance. The study highlights a correlation between top treasury performance and company profitability, according to the report provided by Citi.
Leading crypto exchange holds investigation seminar with Taiwan High Prosecutors Office
By Globe Banner | Nov 14, 2023
Binance, the largest cryptocurrency exchange in the world, announced that it has expanded its partnership with the Taiwan High Prosecutors Office and recently held a training session on best practices for deterring and combating digital asset-related crimes. During the event, Binance team members presented the latest trends in digital assets to more than 50 law enforcement officials and discussed techniques for tackling crimes.
IMF approves proposal to boost quotas
By Globe Banner | Nov 11, 2023
The International Monetary Fund (IMF) announced that the Executive Board is recommending to the Board of Governors a 50 percent quota increase, distributed among members based on their existing quotas. This proposed quota increase is aimed at fortifying global financial stability and augmenting the IMF's enduring resources, according to a press release by the IMF.
IMF approves proposal to boost quotas
By Globe Banner | Nov 11, 2023
The International Monetary Fund (IMF) announced that the Executive Board is recommending to the Board of Governors a 50 percent quota increase, distributed among members based on their existing quotas. This proposed quota increase is aimed at fortifying global financial stability and augmenting the IMF's enduring resources, according to a press release by the IMF.
IMF approves proposal to boost quotas
By Globe Banner | Nov 11, 2023
The International Monetary Fund (IMF) announced that the Executive Board is recommending to the Board of Governors a 50 percent quota increase, distributed among members based on their existing quotas. This proposed quota increase is aimed at fortifying global financial stability and augmenting the IMF's enduring resources, according to a press release by the IMF.