Reports continue to show Chinese investors increasingly investing in bitcoin as the yuan devalues; over 90% of bitcoin trading has been reported by Chinese investors and the cryptocurrency's price is showing close correlation with the value of the yuan; Chinese regulation limiting foreign investment to $50,000 per year in order to stabilize the currency appears to be a factor as wealthy Chinese investors use bitcoin investment to evade the regulation since it is considered a borderless investment; while China appears to be a driving force for the currency's gains, experts also believe improved trading efficiencies and solutions for bitcoin are also factors for its recent appreciation. Source
Crypto has become the go to currency for the Ukrainian Government defending itself from Russia. But crypto has a PR problem with Western governments keen to enforce sanctions. Most recognize cryptocurrency will not fund a war, but sanctions are the crypto industry's most critical test to date.
Recently Morgan Stanley published research sharing that digital payments penetration in India could increase from 5% today to 20% in 2027; the e-commerce market could reach $200 billion with 475 million shoppers by this time; the author delves deep into the Chinese and Indian payments markets, sharing why America could miss out on India’s fintech revolution. Source
AmEx launched its digital checking designed for small and mid-sized businesses with the option to recieve a business debit card Thursday.
Southeast Asia’s largest bank, DBS Bank, has been one of the most innovative and profitable; while presenting at a Credit Suisse investment conference DBS CFO Chng Sok Hui said they could raise the return on equity to 14.5 percent; the digital customers are three times as valuable to the bottom line of the bank; DBS has implemented chatbots and other innovative technologies to improve the digital experience for a customer who is increasingly using their phones to bank. Source.
Data storage startup Snowflake is adding Google’s public cloud to their support which already can service Amazon Web Services and...
A new report by Accenture Security talks about the growing fraud risk at banks and potential solutions they can implement...
This headline caught my attention the other day: Bank loyalty costs savers £1.6 billion a year in missed interest The detail: There’s £246.5 billion ($340 billion) languishing in accounts paying no interest at all … A survey of 2,000 adults across the UK, with 42 percent of respondents stating that …
With more services becoming digital, a digital currency seems to be the perfect solution to streamline the digital revolution further.
From the LendIt Fintech Vault: Sallie Krawcheck of Ellevest on The $700B Untapped Investment Segment
Sallie Krawcheck, the CEO of Ellevest and a Wall Street legend, joined us last year for a keynote session on...