Digital Currency Group (DCG) to Close Down Its Prime Brokerage Subsidiary TradeBlock

TradeBlock will officially begin the process of shutting down on May 31. Digital Currency Group (DCG), a New York-based venture capital firm that invests and provides services to crypto companies is winding down its TradeBlock subsidiary. According to a May 25 report from Bloomberg, the company, headed by Breanne Madigan, who previously worked at Goldman … Read more

Societe Generale Subsidiary SG-Forge Launches Euro-Pegged Stablecoin on Ethereum

SG-Forge CEO stated that the EUR CoinVertible smart contract was audited by the professional services network PwC before launch. Societe Generale-Forge (SG-Forge), a regulated subsidiary of the French banking firm Societe Generale, on April 20 announced the launch of EUR CoinVertible, a euro-pegged stablecoin. The Ethereum-based stablecoin will trade under the ticker EURCV and will … Read more

Crypto Lender Amber Group Considers Potential Sale of Japan Subsidiary amid Plans to Secure Hong Kong Trading License

Amber Group could sell its subsidiary in Japan to focus more on institutional rather than retail businesses. Leading global digital asset platform Amber Group is considering a possible sale of its Japan subsidiary amid other plans. The exchange liquidity provider and validator also seeks to apply for a license in Hong Kong. Amber Group’s Hong … Read more

HSBC Acquires Troubled Silicon Valley Bank (SVB) UK Subsidiary for £1, Shares Down Today

HSBC’s announcement came at a time the United States government announced a $25 billion bailout of struggling Silicon Valley Bank and Signature Bank to avoid a further banking crisis. In a stunning turn of events, HSBC Holdings Plc (NYSE: HSBC) has announced that its United Kingdom subsidiary has acquired troubled Silicon Valley Bank  (SVB) UK … Read more

Block Floats New Subsidiary to Help Enhance Lightning Network

With the new outfit, Block Inc will now have a defined presence, not just as a promoter, but as a major stakeholder in the Lightning Network ecosystem. In its bid to drive the overall usability of the Lightning Network, American multinational payments firm, Block Inc (NYSE: SQ) has announced the establishment of a new subsidiary … Read more