Category: news

We are pleased to announce that Capital Union Bank has selected Taurus as strategic partner for its digital asset offering. Taurus and Capital Union Bank’s collaboration is already in production and covers the custody of digital assets for the bank’s private, professional and institutional clients. More specifically, the Bank has integrated (i) Taurus-PROTECT, the leading digital asset custody platform for banks, and (ii) Taurus-EXPLORER for the connectivity to >15 blockchain protocols.

Strategic collaboration live. Expanding regional footprint in the Americas

Recent history has shown that counterparty risk is the key risk to mitigate, therefore having full control of private keys is an important foundation for banks implementing a robust digital asset strategy. By using Taurus’ technology, our bank fully controls its private keys and will be able to rely on one of the most secure digital asset custody platforms in the industry. We intend to further expand the collaboration to tokenized assets and other blockchain based technologies soon to be adopted within the traditional Banking and Investment Management industries.

Patrick Zbinden, CEO of Capital Union Bank said: “We believe that the evolution of digital assets as an investable asset class is predicated on banks acting as trusted custodians for such assets, by holding client keys on their behalf and integrating digital assets within the same account structure as traditional financial instruments. The deep integration of Taurus solutions into our core banking software architecture will allow us to do that and to embrace future blockchain based technological innovation.”

Lamine Brahimi, co-founder and managing partner, Taurus said: “Capital Union Bank’s executives have a visionary digital asset strategy with several innovative projects that will go live soon. We are delighted to support the Bank in accelerating its digital asset strategy in a secure and regulatory-compliant manner and look forward to partnering with Capital Union Bank to launch new services that are unique in the industry.”

 

CUB Financial Center | Lyford Cay | PO Box AP 59223 | Nassau, Bahamas

www.capitalunoinbank.com

Chief Executive Officer

Mr. Patrick Zbinden (left) joined Capital Union Bank Ltd as CEO in September 2021. He took over the day-to-day operations from Mr. Ludovic Chechin-Laurans (Co-Founder) who remains on our Board of Directors.

Head of Risk

Mrs. Dominique Braithwaite (center) joined us as Head of Risk in May 2022 – taking over from Mr. Rolf Schuermann, who remains a consultant to the firm.

Head of Client Services

Mr. Flavio Lopes (right), our incoming Head of Client Services joined us today. He will oversee our International Booking Desk and oversee all matters that relate to the administration and improvement of client services.

 

We would like to thank Ludovic Chechin-Laurans and Rolf Schuermann for their invaluable support, which helped Capital Union Bank grow into the institution that it is today.

If you want to learn more about CUB’s history, click here.

 

CUB Financial Center | Lyford Cay | PO Box AP 59223 | Nassau, Bahamas

www.capitalunoinbank.com

“Junkanoo is the most significant expression of us as Bahamians and a collective society. The rich tradition is more than a celebration; it is a rich competition of talent and art. The rhythm and sound of Junkanoo tells a story of who we are and our connection to our past.

Arguably, Junkanoo is the most celebrated cultural tradition in our country. At midnight the sounds of the goatskin drum, the shaking of the cowbells, the electric dancing, and the blowing of the whistle all together create a movement of excitement across Bay Street.

Our people, country, and region remain a depository of Africa’s legends. The story of John Canoe lives on and is enshrined in our way of life.” – The Rt. Hon. Philip Edward (Brave) Davis, Prime Minister & Minister of Finance of The Commonwealth of The Bahamas (Foreword, Junkanoo – Portraits of the Soul)

Alessandro Sarno (The Lonesome Photographer) continues to pay homage to Bahamian culture through his thoughtful curation of Bahamian father and son duo’s photographs (Nicholas & Mike Klonaris) of Junkanoo. Capital Union Bank is proud to be the sponsor of this wonderful body of work celebrating the Arts and our country – “Junkanoo – Portraits of the Soul“

CUB Financial Center | Lyford Cay | PO Box AP 59223 | Nassau, Bahamas

www.capitalunoinbank.com

It is our great pleasure to share with you CUB’s 2021 Annual Report.

Here you can:

• find thoughtful commentary and insight, including remarks from our Chairman, Lawrence D. Howell and CEO Patrick Zbinden,
• enjoy scenic photos of The Bahamas taken by Alessandro Sarno,
• learn more about CUB’s CSR endeavors and
• take a deep dive into our Financial Performance

Our detailed financial reports can be found here.

CUB Financial Center | Lyford Cay | PO Box AP 59223 | Nassau, Bahamas

www.capitalunoinbank.com

Capital Union Bank served as the proud ‘Master Sponsor’ for LCIS’ Swing for Scholarships VI, a golf tournament that was held last Friday on May 13th, 2022 at the Lyford Cay Golf Course. The fun-filled day of golf was all for a great cause with all proceeds directly supporting scholarships for Bahamian students at LCIS.

Having a Master Sponsor for the sponsorship of the event ensures that 100% of the sponsor proceeds goes directly to support the Scholarship Fund that helps many Bahamian students attend Lyford Cay International School (LCIS) who shares a commitment to diversity, equality and building our nation.

“As a non-pro fit, LCIS will continue to depend on donations from loyal supporters to provide critical financial resources that directly support and enhance the student learning experience. The success of LCIS has always and will continue to be made possible by the support, generosity and loyalty of parents, community friends and corporate partners like Capital Union Bank to help educate the leaders of tomorrow. Thank you.” – Rebecca Massey, LCIS Development Coordinator

CUB Financial Center | Lyford Cay | PO Box AP 59223 | Nassau, Bahamas

www.capitalunoinbank.com

The Bahamas Rugby Football Union hosted the Rugby World Cup Sevens & the Commonwealth Games Qualification Tournament for Rugby Americas North (RAN) Sevens Qualifiers on April 23 & 24^th, 2022 at the Thomas A. Robinson Stadium in Nassau, Bahamas. Nassau is a familiar location for some athletes throughout the region, having played host to the Youth Commonwealth Games in 2018.

CUB who sponsors the Bahamas Rugby Union had the privilege of serving as the event’s ‘Title Sponsor’. Our commitment to sport goes beyond sponsoring teams and events. Scores of colleagues and rugby fans went to support The Bahamas’ National teams over the two day event.

“We are delighted to be bringing our RAN Sevens Qualifiers to Nassau, Bahamas this April at the world-class Thomas A. Robinson National Stadium. This tournament is a direct qualifier for both Rugby World Cup Sevens and The Commonwealth Games, and we are expecting a high-level of competition over the two days to crown champions that will represent our region this year at two of the sport’s biggest events… I would like to thank Adam Waterhouse and the Bahamas Rugby Football Union, along with The Bahamas Government, for putting their hand up to host this event” – Niall Brooks, RAN General Manager

“What does it mean for The Bahamas to host this event? It means excitement, it means progress and it means that Rugby gets moving again… This event will bring players back to the community, generate a buzz about the game and inspire Bahamian youth to come out and play our wonderful sport!…This is a landmark event for both Rugby Americas North (RAN) and The Bahamas. Together we have the potential to demonstrate that rugby is back and it’s back in a big way. Hopefully this will generate a lot of interest locally and further afield and The Bahamas can be seen as a premier Sports Tourism destination and all visitors can truly experience Sports in paradise after all, It’s better in The Bahamas!” – Adam Waterhouse, Bahamas Rugby Football Union President

CUB Financial Center | Lyford Cay | PO Box AP 59223 | Nassau, Bahamas

www.capitalunoinbank.com

Capital Union Bank selects the blockchain data platform Chainalysis as a compliance partner for digital assets. Chainalysis provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries.

We tapped Chainalysis for their risk management software and expertise to ensure the safe and compliant rollout of digital assets solutions – including trading and custody – to our customers.

Building out digital assets services brings additional regulatory scrutiny, and our bank, which is regulated by the Central Bank of the Bahamas and the Securities Commission of the Bahamas, will integrate Chainalysis compliance software in support of comprehensive risk management and due diligence practices.

“As an independent bank in the Bahamas, Capital Union Bank is uniquely positioned to build a bridge between sophisticated investors and the digital assets markets,” said Patrick Zbinden, Chief Executive Officer (Capital Union Bank). “With Chainalysis by our side, we feel equipped to provide these new services in a safe and compliant way.”

“Financial institutions are integral to the overall growth of the cryptocurrency industry, and partnering with respected banks like Capital Union will help build trust in the industry,” said Jonathan Levin, Co-Founder and Chief Strategy Officer (Chainalysis). “We’re thrilled to partner with such a forward thinking bank and look forward to enabling the further adoption of cryptocurrency, safely.”

Our bank will adopt Chainalysis KYT (Know Your Transaction) and Reactor. Chainalysis KYT performs continuous, real-time transaction monitoring for all digital assets to detect patterns of high-risk activity. Chainalysis Reactor, the investigative tool, provides deeper due diligence into suspicious activity.

 

CUB Financial Center | Lyford Cay | PO Box AP 59223 | Nassau, Bahamas

www.capitalunoinbank.com