Bitcoin plunged and the world’s largest stablecoin, tether, briefly edged down from its $1 peg, adding to fears of more turbulence in the cryptocurrency market.
Tracking consumer goods through the supply chain from origin to final transaction is another way blockchain is being utilized in today’s global market; with blockchain the supply process becomes less segmented and more streamlined which helps delivery efficiency; sellers can also provide detailed information on products through printed codes helping to increase confidence in consumer brands; these benefits and more are causing increased utilization of blockchain technology which is likely to lead to more widespread use by retail providers. Source
Manuel Alvarez was previously general counsel and chief compliance officer at Affirm; today he was sworn in as commissioner of...
One of China’s largest online lenders has shelved their IPO because of the regulatory crackdown on online lending; the FT reports that Lufax is waiting until the China Banking Regulatory Commission (CBRC) required online lenders to apply for a license; the current thinking is the government will approve licenses in April, though the time frame could be a bit longer; Lufax wants to ensure they get it right instead of rushing to be first. Source.
Banking is continuing to evolve and there has been a trend to talk about how the challenger banks will take...
The examples of both Dropp and Helium seem to indicate that there is real innovation in micropayment business models around shared ledgers and tokens, way out beyond the Bitcoin blockchain, cryptocurrency speculation and NFT madness.
During pandemic, Personal Capital sees customer inflows, positive feedback for recent rebrand Symphony’s David Gurlé on enterprise communication and collaboration...
Fintech is seen as playing a significant role in reaching climate change objectives.
For CEO Alex Holmes, MoneyGram's acquisition is an opportunity to accelerate its future development without the constraints that come with making quarterly reports to the markets.
Banking-as-a-service, banking-as-a-platform, platform-as-a-service, open banking and open application program interfaces (APIs) are all terms being used by fintech companies who are building innovative products for banks; the long term question is will the banks buy or partner with this technology and in a banking system like the US how wide will adoption need to be for the banking system as a whole to change; recent surveys by Cornerstone Advisors of 300 community banks, regional banks and credit union CEOs shows the current economic environment and presidential election has them very optimistic; when they are making money, they innovate less. Source