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European crypto-banking platform Bitwala, formerly known as Nuri, is coming back after ceasing operations in 2022. European cryptocurrency banking platform Bitwala, formerly known as Nuri, is coming back after ceasing operations and returning customer funds last year. Bitwala is re launch ing operations under its original name, in partnership with the support of the banking infrastructure company known as Striga, the firms said in a joint announcement to Cointelegraph on Nov. 8. As part of the partnership, Striga is providing Bitwala with “Banking and Crypto-as-a-Service,” enabling the crypto banking app to draw on its trading and card-issuing functionality, Bitwala CEO Dennis Daiber said. Bitwala, which rebranded as Nuri in 2021, filed for insolvency in August 2022, citing liquidity issues coming amid a massive crypto bear market that was triggered by the Terra crash. The firm eventually shut down operations in October 2022, asking its 500,000 users to withdraw their assets before ...

Stablecoins are seen as a potential solution to crypto’s banking problem, but some of them are currently not immune to banking issues. The collapses of banks like Silvergate have certainly impacted cryptocurrency exchanges but there are ways for the industry to survive without the support of banks, one executive believes. Crypto exchanges significantly rely on traditional banking systems for customer deposits, which makes them vulnerable to various banking issues, according to Bitstamp USA CEO and global commercial officer Bobby Zagotta. The executive believes that stablecoins — cryptocurrencies whose value is tied to fiat currencies or other assets — could be a solution to crypto’s banking problem. “We are currently discussing how stablecoins can offer us an alternative to traditional banking,” Zagotta said in an interview with Cointelegraph on March 27. He added that stablecoins could potentially unlock new capabilities for the industry, allowing it to look at banking from a new p...

On this week’s episode of The Market Report, Cointelegraph’s resident experts explain what is going on with banks collapsing, stablecoins depegging and what you should do to stay safe. This week on The Market Report, the resident experts at Cointelegraph discuss all the details regarding the latest bank collapse and the USD Coin (USDC) depeg. We kick things off with this week’s top stories Silicon Valley Bank collapse: Everything that’s happened until now The sudden collapse of Silicon Valley Bank (SVB) has quickly unfolded over the last week, depegging stablecoins , leading regulators in the United States and the United Kingdom to prepare emergency plans and raising fears among small businesses, venture capitalists and other depositors with funds stuck at the California tech bank. Our experts here at Cointelegraph Markets & Research break down everything that has happen ed so far, so you’re up to date with all the latest developments.  ‘Nobody left to bank crypto companies’ — Cr...