USC Project Seeks to Disrupt Traditional Wholesale Banking
The essence of the USC project is to create blockchain-based cryptocurrencies to make it easier for international banks to settle various transactions between each other. USCs are 100% fiat-backed currencies held in respective central banks with convertibility into fiat currency at par guaranteed at all times.
Yahoo Japan-Backed Exchange Launches Crypto-Yen Markets and Margin Trading
Yahoo Japan’s trading platform Taotao is open offering BTC and ETH trading while also providing users with margin trading available in litecoin (LTC), ripple (XRP) and bitcoin cash (BCH).
tags: CryptoAssets Fintech Liquidity
What a debut securitisation tells us about fintech
The £259m Lendinvest securitisation is backed by buy-to-let loans. It’s worth briefly going into its model, because it illustrates the basic point of fintech: it’s not so much about new things, as the absence of old things, plus securitisation.
tags: Securitization P2P Fintech Plumbing
Crypto: Where Are the Institutions?
Crypto has caught the attention of traditional institutional investors, but there is limited evidence of active participation by traditional institutions in the liquid crypto markets. What’s holding them back?
Is Lufthansa an e-money issuer?
Lufthansa says that their points do not have a cash value, the argument is undermined by the ability of customers to transfer points from other programs that do sell their points for cash. If you’re issuing cash-like liabilities you have to be regulated as a bank or e-money issuer/ transmitter.
tags: Fintech PaymentSystems Regulation
What Facebook’s Cryptocurrency Means: 6 Predictions
Based on Facebook’s statement and several anonymous comments made by people tied to the project, Caitlin Long predicts that Facebook will pay interest to holders of its stablecoin, and this will eventually lead to populist calls to repeal corporate subsidies to banks at the heart of the US banking system.
The IMF is worried that big tech could make the financial system less stable
The IMF thinks BigTech could significantly disrupt the financial sector, accelerating inclusion and modernizing financial markets, but raising privacy issues, plus competition and market concentration concerns, both of which could lead to financial system vulnerabilities.
116th Congress: FinTech Legislative Update
Ever since the 116th Congress convened in early January, we have been tracking FinTech-related legislation introduced in the House and Senate.
tags: Fintech Regulation