FameEX Afternoon Crypto News Recap | April 17, 2023

Largest Virtual Bank in Hong Kong Now Provides Cryptocurrency Conversion Services
https://www.fameex.com/en-US/news/crypto-trending-news-2023041703
Hong Kong-based virtual lender, ZA Bank, plans to enter the digital assets sector by providing crypto-to-fiat conversions and account services. The move comes as the Chinese financial center looks to embrace the growing industry. As the biggest virtual-only bank in Hong Kong, ZA Bank's expansion into digital assets is expected to boost its customer base and increase competition in the region.

Central Bank Governors Indicate More Interest Rate Hikes Ahead for Europeans
Due to continuing inflation in the eurozone, members of the monetary authority's decision-making body believe that further interest rate hikes are necessary. Despite differing opinions on how aggressive the European Central Bank should be, two central bank governors agree that more increases of key interest rates are still to come.

Development of Digital Asset Banking Standards Underway by Singapore Central Bank
Singapore's central bank, along with law enforcement authorities and commercial banks, is creating industry standards for banks to onboard new digital asset clients. The new standards aim to address the difficulty digital asset businesses face in accessing banking services, particularly in Singapore, due to regulatory and money laundering concerns.

Crypto Executives Advocate for Interoperable Standards to Drive Blockchain Evolution
Industry experts assert that for the transition from Web2 to Web3 to be fully realized, a universal communication standard that can be integrated by all networks is necessary for blockchain technology. With the expectation of numerous blockchains, a communication protocol similar to the TCP/IP used on the internet is required to establish an ecosystem.

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