Bitcoin

The fintech that gave life to the mobile point of sale market is seeing that business overshadowed by the ever-rising popularity of cryptocurrency.

Citing strong client demand, the nation's largest custody bank is building infrastructure and a team that can help clients store and manage bitcoin and many other types of virtual currency and tokenized assets.

Billionaire Elon Musk defended Tesla Inc.’s $1.5 billion Bitcoin investment on Twitter, calling the cryptocurrency a “less dumb” version of cash.

Miami Mayor Francis Suarez proposed paying municipal workers and collecting taxes in bitcoin, expanding a campaign to promote cryptocurrencies.

The trust bank and the credit card company said they'll make it easier for customers to use cryptocurrencies. The announcements contributed to another jump in the price of the largest digital asset.

In raising the cryptocurrency's profile, the tech celebrity also demonstrated its extreme volatility.

Bitcoin is inherently risky and only central banks should issue digital currencies, according to the Bank for International Settlements.

A new path forward for digital banks and their customers.

Felix Todd, formerly of Regions Financial, says "the excitement is authentic" at the New York community development bank, which has a reputation for being both innovative and purpose-driven.

Silvergate and Avanti are among the banks pioneering the incorporation of smart contracts, cryptocurrencies and other cutting-edge instruments into mainstream financial services.