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Crypto

Swiss bank BancaStato launches regulated cryptocurrency trading service with Signum

Swiss cantonal bank BancaStato has launched a regulated service that lets customers buy, sell and hold four cryptocurrencies through its existing web and mobile banking app. The service links Signum’s trading and custody functions with the Avaloq banking system. The integration connects Signum’s API directly to the Avaloq platform, enabling crypto transactions through existing digital channels without a separate order management system and reducing operational complexity.

Finance

Big tech financial platforms tighten internal controls; banks compete for young customers

Internal controls for fintech financial platforms are being tightened as concerns grow that system failures in payments, transfers and top-ups could quickly harm consumers and erode trust. Financial authorities have urged big tech e-finance operators to build IT stability and internal control systems comparable to traditional financial firms, while also revising support tools such as the financial regulatory sandbox. Banks are also stepping up competition for young customers as a youth savings product draws strong early demand.

Finance

Savings banks raise deposit rates as money moves out, 4 percent products return

South Korean savings banks are raising deposit rates as deposit-like funds move out amid a stock market tilt. The average 1-year term deposit rate at 79 savings banks reached 3.74 percent as of June 26, the highest since November 2024. OK Savings Bank lifted rates to 4.5 percent on some products, while others raised term and demand-account rates toward 3 percent. Banks have also increased deposit rates, narrowing the gap.