-
As expected, the Financial Action Task Force (FATF) standards released Friday include a controversial requirement that “virtual asset service providers” (VASPs), including crypto exchanges, pass information about their customers to one another when transferring funds between firms.
-
France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations. Governor Francois Villeroy de Galhau said the task force would be led by Benoit Coeure, a ECB board member.
-
Were every Western depositor to move a tenth of their bank savings into Libras, its reserve fund would be worth over $2trn, making it a big force in bond markets. Banks that suddenly saw lots of deposits leave for Libras would be vulnerable to a panic over their solvency; they would also have to shrink their lending. And the prospect of huge sums flowing across borders will worry emerging countries with a fragile balance of payments
-
Individual Libra-holders face risks. One is currency fluctuations. If, say, the yen rises against the basket to which Libra is pegged, Japanese holders of Libra will lose out. The new currency will not yield interest (though neither do many bank deposits nowadays).
-
We need a product that fully disrupts the woefully inefficient global payments system and starts to break the power of the big banks. If Libra launches (the regulatory challenges are not small) and works as a frictionless, almost free and very fast global monetary transmission mechanism, it could be that product. However if it is, it won’t be because it is mimicking “real” cryptocurrencies. It will be because it isn’t.
-
One idea as to how officials might keep CEO Mark Zuckerberg’s dreams grounded in reality is to get under the hood of what goes into the digital currency in the first place. Given Libra wants to back every digital cent with a mix of real-world reserve currencies, that might be the best place to start. Bank of England boss Mark Carney hinted at this in his Mansion House speech on Thursday, proposing that tech firms and other non-banks be allowed to hold funds directly at the central bank.
-
In many respects, he says, Libra is like an ETF for a basket of currencies, except that Libra will not trade on regulated exchanges. In fact, it is so much like an ETF, the US SEC is likely to at least contemplate asserting jurisdiction over the tokens.
-
SWIFT: “We don’t think that cross-border payments challenges should be solved for with closed loop systems. Doing so would easily solve for a subset — or multiple subsets — of participants, but value needs to move everywhere — from every account, to every account. Loops create barriers and friction; they reduce fungibility and portability, they limit competition and they fragment liquidity.”
-
What happens if all users want to sell their Libra currency at once, causing the Libra Reserve to hold a fire sale of assets? If the Libra system becomes intertwined in our global economy in the way Facebook hopes, we would need to consider a public bailout of a privately managed system.
-
Simply put, the Libra Masterplan is a combination of the Bitcoin Playbook (to allow the currency to spread globally without regulatory responsibility) and the WeChat Playbook (to harvest as much data as possible and earn as much ad revenue as possible by introducing money into a popular chat app).
-
“What are they doing with the money, if I give them some dollars to buy the Libra, they’re kinda being fuzzy about that in their whitepaper…The strength of the collateral is a question I would have about it.”
-
“A liquid, stable currency would be attractive to many in emerging markets. So attractive, in fact, that if enough people trade out of their local currencies, they could threaten the ability of emerging market governments to control their monetary supply, the local means of exchange, and, in some cases, their ability to impose capital controls.”
-
Russian government-owned news agency TASS has reported that Russia will not legalize Libra.
-
Open X refers to a new operational age where the financial services industry is moved onto a shared ecosystem or marketplace. In this new paradigm, players leverage data extensively and collaborate with other players to provide customers with a seamless experience.tags: OpenBanking Fintech
-
Canada’s largest credit union and one of the world’s biggest banks, announced a security breach caused by a former employee. The bank said a bank employee had taken the data of 2.7 million home users and 173,000 businesses and associated contacts from its database, without authorization.
Month: June 2019
Kiffmeister’s Fintech Daily Digest 06/20/2019
-
The Bank of England announced plans to consult on opening access to its balance sheet to new payment providers. Allowing all payment providers to store funds overnight in interest-bearing accounts at the central bank would help achieve the goal that similar activities should be regulated consistently.
-
Regulators and central banks should immediately address the real problems Facebook has identified. Central bank digital currencies would quite easily do so. Governments have been remiss by dragging their feet on this — in part because of deference to the established banking industry; but they no longer have any excuse to do so.
-
The White Paper vows that the Libra Association will move to a permissionless system, but the commitment is weak—just an intent to begin the transition within five years. But Facebook Chief Economist Christian Catalini notes that for now, no one knows how to build such a thing at a global scale
-
Facebook got in touch with the FT citing factual errors in Jemima Kelly’s story on the basis of her interpretive analysis which critiqued the notion that libra was actually a blockchain or a cryptocurrency. “
-
Libra type systems face different kinds of difficulties in low and high interest rate environments. In high rate environments, the opportunity cost of holding the currency is high, which leads to lower quantity demanded. In low rate environments, the revenue stream may be insufficient to cover the costs incurred by the intermediaries. This creates an incentive for asset substitution, i.e., to allow backing the currency with higher risk assets (with higher yields) thereby increasing insolvency and run risks.
-
UK-based Paysend Group is launching a new global digital currency, Pays XDR. This stable coin is 100% backed by cash reserves and the reserves are matched in the exact proportion of the IMF’s Special Drawing Rights.
-
This year, in the EY third biennial FinTech adoption trends survey, 96% of the 27,000 consumers surveyed (across 27 global markets) reported they were at least aware of a FinTech transfer or payments service – and 75% had used one.tags: Fintech
-
Facebook’s Libra may not be available in India due to the current ban of blockchain-based currency transactions. Apparently, Facebook has not applied for approval with the Reserve Bank of India to operate its digital currency in the country.
-
A new initiative plans to make six of Europe’s smartphone wallets interoperable with each other, creating a total network of 5 million users in 10 European countries. Notably, they are working with Chinese fintech giant Alipay to develop a unified QR code.tags: Fintech MobileMoney
-
The Coinbase Card will be available in Spain, Germany, France, Italy, Ireland and the Netherlands. The card allows users with Coinbase accounts to spend cryptocurrencies in stores and online at any merchant that accepts Visa.
-
QuadrigaCX’s Gerald Cotten, who *apparently* died last December, transferred millions of dollars in crypto out of customer accounts and into other exchanges, with the funds being used to furnish his personal lifestyle and trading habits.
-
On June 21, the Financial Action Task Force will publish a note to clarify how participating nations should oversee virtual assets. The new rules will apply to businesses working with tokens and cryptocurrencies, such as exchanges and custodians and crypto hedge funds.
-
According to CME, bitcoin (BTC) open interest spiked on June 17 with an all-time high of 5,311 contracts totalling 26,555 BTC, or approximately $246 million.
Kiffmeister’s Fintech Daily Digest 06/19/2019
-
Senate Banking Committee Schedules July Hearing on Facebook’s Libra Crypto
The U.S. Senate Committee on on Banking, Housing, and Urban Affairs will hold a hearing on July 16 regarding Facebook’s new cryptocurrency, Libra. The hearing, “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations,” comes in the wake of calls from members of Congress to more closely examine Libra and its potential risks. There have even been calls to halt work on the project until hearings are held.
-
Regulators prepare response to Facebook’s Libra
The G7 is preparing a communique that will detail plans for a working group to investigate the financial stability implications of stablecoins. It will include central banks and the IMF, under the leadership of the ECB’s Benoît Cœuré.
-
“Libras have a right to be peeved. Facebook is attempting to represent themselves as fair and just, akin to Libra’s most positive qualities,” said astrologist Mackenzie Greer. “Given their track record, I’m not so sure they’ll be able to live up to the Libra name.”
-
ChainThat takes blockchain risk exchange to Bermuda Innovation Hub
ChainThat has been approved as the first company to join The Bermuda Monetary Authority’s (BMA) Innovation Hub and will house its Distributed Ledger Technology (DLT) driven risk and capital exchange there for the duration of its trial period.
tags: Blockchain Fintech
-
CME Bitcoin Institutional Interest Hits New Record – Up 80% YOY
CME Bitcoin futures reached a record all-time of 5,311 contracts or $250 Million this week, as new Institutional money flows into the Bitcoin derivative market.
tags: Fintech CryptoAssets Bitcoin Futures Institutionalization
-
MetLife’s LumenLab Using Blockchain to Automate Life Insurance Claims
Known as “Lifechain,” the collaboration with Singapore Press Holdings and NTUC Income will enable bereaved families who place obituaries in a local newspaper to instantly trigger searches to see whether their loved one had a life insurance policy.
tags: Fintech Insurance Blockchain
-
PwC launches solution supporting audit of cryptocurrency
PwC has added a new tool to its Halo auditing suite to provide assurance services for entities engaging in cryptocurrency transactions. It will permit the firm to provide independent evidence of private-public key pairing (to establish crypto asset ownership), and gather information about transactions and balances from blockchains.
-
Libra: not a currency board and (maybe) not a stable currency
In the absence of a proper fixed exchange rate and a credible mechanism to maintain it, Libra looks more like a standard flexible exchange rate currency. Its stability will depend on its credibility. Referring to the fact that there are enough assets backing its supply is not a good argument (that argument applies to any central bank issuing fiat money).
-
Is the Libra digital coin just Facebook’s version of Tencent’s QQ coin?
Chinese netizens are unimpressed with Facebook’s blockchain project as Tencent’s Pony Ma and Sogou’s Wang Xiaochuan weigh in.
tags: Fintech Facebook AltCoins CryptoAssets Stablecoins MobileMoney
-
EIB, Euroclear, Banco Santander & EY developing blockchain solution
Euroclear, one of the world’s largest securities depositories, says it will push forward with building a pilot blockchain-based platform for the issuance and settlement of European commercial paper (ECP).
tags: Fintech Plumbing Blockchain
-
Facebook’s Libra will not help the unbanked
When you dig in to the details of how Libra is supposed to work, there’s nothing at all about how it will actually help the unbanked.
-
Thoughts on Libra “Blockchain”
Jameson Lopp digs into the 26 page technical document describing the protocol to be used as a platform for the Libra coin (and more.)
-
Facebook’s Libra Currency Draws Instant Response from Regulators
Facebook’s plans to launch a new global digital currency drew an immediate response from regulators on Tuesday, with the Group of Seven nations saying it would set up a high-level forum to examine the risks of such currencies to the financial system. Central banks and the IMF will also participate.
-
HSBC Launches Tokenization-Based Receivables System for India
Major global banking group HSBC has implemented tokenization technology into its receivables infrastructure for corporate clients in India.
tags: CryptoAssets Tokenization Fintech
-
Italy’s Banks to Use Blockchain to Boost Settlements and Improve Transparency
The Italian Banking Association has announced that Italy’s banks will integrate distributed ledger technology into internal processes to boost settlements. The deployment of blockchain is also set to improve transparency in transactions between banks and efficiency of communication between counterparties.
tags: Blockchain Fintech
-
Will Libra Displace National Currencies?
If you buy most things online, and if everything online is priced in Libras, then you’ll end up living your life denominated in Libras, and only converting your Libras into dollars on your occasional touristic visits to the physical world. The goal is for Libra to be more useful than any national currency, accepted in more places and with fewer complications; pegging it to a single national currency would only hold it back.
Kiffmeister’s Fintech Daily Digest 06/18/2019
-
What is Libra, Facebook’s New Digital Coin
Facebook has revealed plans for an ambitious new digital currency, Libra, ending months of speculation about the project. The work is in its early stages but Facebook has published documents revealing ideas for the currency and some heavyweight partners. Many of the details will be hashed out in the coming months.
-
Facebook announces Libra cryptocurrency with a massive list of partners
Signing up for Calibra will require KYC (know your customer) verification, meaning that users will have to upload some sort of government-issued ID before they can start using the service.
-
Facebook’s Libra Cryptocurrency: Under The Hood
From a technical perspective, the consensus mechanism that helps members with different interests come to an agreement uses a modified version of the math behind bitcoin’s Byzantine Fault Tolerance (BFT) algorithm, called BFTLibra.
-
Facebook Unveils New “Currency”
A possible policy impact could come from Libra’s use as a safe haven. It may be easier for people to flee to Libra than to dollar assets, which could impact exchange rates worldwide. To the extent Libra attracts depositors away from banks, it could have an impact on banks’ access to funding.
-
Facebook’s GlobalCoin Is No Threat to Bitcoin, But Banks Should Worry
PayPal, for example, charges a three percent transaction fee, which takes a substantial cut out of businesses and freelancers who use their payment service for the majority of their transactions. Unless PayPal and its peers lower their fees in response to the new competition from Facebook, they could end up losing substantial market share.
-
Facebook debuts Libra cryptocurrency: a Bitcoin killer?
Facebook says that Calibra customers’ account information and financial data will not be used to improve ad targeting on the Facebook family of products and only in limited cases will information be shared to reflect our need to keep people safe, comply with the law and provide basic functionality to the people who use Calibra.
-
Better Than Bitcoin? Facebook Unveils Libra Cryptocurrency
U.S. regulations may represent another hurdle for Facebook. The SEC has shut down about a dozen businesses issuing their own tokens for violations of securities law. Facebook has been in contact with the SEC, but it hasn’t received a “no-action” letter from the SEC yet. That would have safeguarded the project from regulatory action by the agency.
-
Facebook’s Libra coin is a symptom of banks’ flaws
A digital challenger with the clout of Big Tech is the stuff of nightmares for the old guard of finance. Facebook says that money transfers with Libra will be fast and cheap. That would undercut banks’ transaction fees, especially internationally.
-
What exactly is Facebook’s Libra Reserve?
Some are comparing Facebook’s Libra Reserve scheme to the IMF’s Special Drawing Right (SDR) system. This makes sense. It’s based on a basket of currencies just like Libra intends to be when it is launched next year. But the truth is Libra is anything but an SDR system.
-
Facebook’s Libra: blockchain, but without the blocks or chain
Talk of decentralised structures is everywhere in the introductory material, but for now the system only aspires to achieve decentralisation at some point in the future. Libra Blockchain will be coming to market in fully permissioned form, effectively centrally controlled by the founder Libra coin holders.
-
There’s a Second Token: A Breakdown of Facebook’s Crypto Economy
In addition to Libra, the project will also issue a “Libra investment token” that will be sold only to the founding corporate members of the Libra Association, and accredited investors. Excess interest earned on the portfolio backing outstanding Libra collateral will go to holders of the investment tokens.
-
Facebook’s Libra Cryptocurrency: A Technical Deep Dive
Facebook has built a dedicated computer programming language called “Move” to provide more flexibility to the Libra blockchain. By building programmability into the blockchain, it can take advantage of new functionality or new techniques, without an entire network upgrade.
-
Facebook Unveils Libra Cryptocurrency, Targeting 1.7 Billion Unbanked
Among the payments giants, a number of NGOs are involved in the Libra Association, including Creative Destruction Lab, Kiva, Mercy Corps and Women’s World Banking. To become a “Social Impact Partner,” participating non-profits must have a five-year track record of poverty alleviation work, including digital financial inclusion initiatives in the field, and an operating budget of greater than $50 million.
-
Behold Libra, the global cryptocurrency masterminded by Facebook
Third parties will be able to build their own apps, wallets, and marketplaces around Libra. If you want to, though, you can use Facebook’s digital wallet, Calibra, a regulated subsidiary. In the US, Calibra is registered as a money service business, and will be overseen by the US Treasury.
-
Zuckerberg: The man who would be monetary king
Libra is nothing more than a brazen attempt to override national monetary sovereignty by creating a global-scale Fed equivalent — within which Facebook’s dominance is veiled by the cunning use of buzzwords like blockchain, DLT, decentralisation and cryptocurrency.
-
Facebook confirms it will launch a cryptocurrency called Libra in 2020
Because Facebook owns Calibra and also has a seat on the Libra Association, it will be the only entity on the currently 29-member board that will effectively have two votes. But the governing structure of the Libra Association is still evolving.
-
Facebook’s Calibra is a secret weapon for monetizing its new cryptocurrency
Calibra is how Facebook intends to make money off Libra. More generally, it’s a massive play for Facebook to get into financial services in a way that no other technology company may be able to compete with.
-
Alphaville’s Libra cheat sheet
After months and months of speculation, Facebook has finally revealed the details of its would-be cryptocurrency challenger.
-
Ripple Could Invest Up to $50 Million in MoneyGram in XRP Boosting Deal
Ripple has struck a deal to buy a stake in money transfer giant MoneyGram that will see MoneyGram using XRP as part of its day-to-day operations by way of Ripple’s xRapid transaction product. MoneyGram started piloting the token back in January 2018.
tags: AltCoins CrossBorder Ripple Fintech PaymentSystems Blockchain CryptoAssets
Kiffmeister’s Fintech Daily Digest 06/17/2019
-
JPMorgan Says Importance of Bitcoin Futures Has Been Understated
The overstatement of trading volumes by cryptocurrency exchanges, and by implication the understatement of the importance of listed futures, suggests that market structure has likely changed considerably since the previous spike in Bitcoin prices in end-2017 with a greater influence from institutional investors.
tags: Fintech CryptoAssets Bitcoin Futures Institutionalization Liquidity
-
Singapore and UK to Enhance Financial Sector Cyber Security Cooperation
The MAS (the Monetary Authority of Singapore), BOE (Bank of England) and FCA (Financial Conduct Authority) have announced they will be working together to strengthen cyber security in their financial sectors.
-
Detecting Facial Manipulations in Adobe Photoshop
Researchers from Adobe and UC Berkeley have created a tool that uses machine learning to automatically identify when photos of people’s faces have been altered.
tags: Fintech
-
Cryptocoin computer code fails to deliver on promoter claims
This paper analyzes the white papers of the fifty top-grossing ICOs of 2017, how the software code controlling the projects’ ICOs reflected their disclosures. Most promised forms of investor protection that the code did not deliver and 12 allowed modifications to the way the smart contract worked, but only four of them disclosed that ability.
tags: Fintech ICOs CryptoAssets
-
Introduction to Central Bank Digital Currencies (2/2)
This article details how CBDC can be implemented, comparing three possible DLT-based options (Corda, Hyperledger Fabric, and Quorum) on privacy, scalability/performance, resiliency and finality.
tags: Fintech CryptoAssets AltCoins CBDC
Kiffmeister’s Fintech Daily Digest 06/16/2019
-
Cryptocurrenices and Sharia Law: Halal or Haram?
According to this article there are three main cryptos that comply with Sharia law; Stellar’s Lumen (XLM), OneGramCoin (OCG) and X8Currency (X8C).
-
Millions across South America hit by massive power cut
Millions of people across Argentina, Uruguay, Paraguay and southern Brazil were left without power early on Sunday after a massive power failure hit all four countries.
tags: Fintech
-
Is Bitcoin Money? (And What that Means)
This paper maintains that the standard approach classifies an item as money if and only if it functions as a commonly-accepted medium of exchange. Then, it shows that the demand for bitcoin is comparable to the demand for many government-issued monies. Finally, it argues that bitcoin is money — though perhaps only over a relatively small domain at present.
tags: Fintech CryptoAssets Bitcoin Economics
-
The Basis stablecoin had huge ambitions – to be the global algorithmic central bank. Despite plenty of cash & brains, Basis failed. This article pieces together the story of what happened and what it means for the Blockchain Economy.
-
Facebook to launch Libra Blockchain testnet next week, backed by Libra Reserve
Facebook and dozens of partners are set to unveil the Libra Association and Libra Blockchain next week. The Libra Blockchain will be backed by Libra Reserve, a reserve of real assets that will provide the cryptocurrency with “stability, low inflation, global acceptance, and fungibility. The Libra Blockchain will be open-sourced under an Apache 2.0 License as of the day of the announcement, and a testnet will be launched at the same time.
-
Is Facebook’s Libra the Dollar’s Killer App?
“Facebook’s Libra will pay interest to those who hold it at an equivalent rate at which banks earn interest on their deposits at the Fed. Which in turn will make people begin to wonder why the legacy banking system is not so generous with its depositors. This will put populist pressure on banks and new scrutiny on their relationship with the Fed.”
Kiffmeister’s Fintech Daily Digest 06/15/2019
-
Jack Dorsey on bitcoin, Facebook’s crypto, and the end of cash
“If you consider the internet to be the equivalent to a nation state, it should have a currency native to itself, and there is not going to be any one party or institution that makes this happen, and there’s not going to be any one party or institution that can stop it from happening. And having a global currency that is native to the internet will allow companies like ours to move much faster and reach a lot more people.”
tags: Fintech CryptoAssets
Kiffmeister’s Fintech Daily Digest 06/14/2019
-
Facebook Inc. has signed up more than a dozen companies including Visa Inc., Mastercard Inc., PayPal Holdings Inc. and Uber Technologies Inc. to back a new cryptocurrency it plans to unveil next week and launch next year… Facebook won’t directly control the coin, nor will the individual members of the consortium—known as the Libra Association. Some of the members could serve as “nodes” along the system that verify transactions and maintain records of them, creating a brand-new payments network.
-
Key findings suggest that mobile money may be a positive use case for CBDC, but it is not without potential risks. The application of retail CBDC to mobile money has the potential to foster greater interoperability, improve payment efficiency, facilitate cost-saving gains by minimising reconciliation complexity and notional costs, as well as reduce the key payment risks that are typically associated with mobile money.
-
From the standpoint of secure, accessible books and records, DLT represents an important step forward. From a funding perspective, it is a gigantic step backward.
-
Our results suggest design improvements that can improve long-term stability and suggest methods for solving pricing problems that arise in existing stablecoins.
-
Brazil’s central bank, finance ministry, and the country’s financial sector regulators have teamed up to develop a Fintech regulatory sandbox.
Kiffmeister’s Fintech Daily Digest 06/13/2019
-
Facebook’s ‘stablecoin’ punt raises questions for regulators
The best way to understand [where Facebook’s stablecoin fit in the grand scheme of things] is to look at an admirably punchy speech that Tobias Adrian, head of the markets division at the IMF, recently gave to a meeting of central bankers in Zurich.
tags: Fintech CryptoAssets
-
Should Central Banks Issue Digital Currency?
Philadelphia Fed researchers find that a central bank digital currency might promote efficiency in exchange, but could raise bank funding costs. However, by appropriately choosing the interest rate it pays on CBDC, the central bank can balance these competing concerns.
tags: Fintech CryptoAssets CBDC
-
Monzo launches in the US to take on America’s financial giants
Monzo says it will initially offer a “few thousands cards” to American customers at launch events in Los Angeles. The company has selected LA as its initial U.S. base, and is looking to expand to other cities. It will find itself up against American financial titans from J.P. Morgan to Bank of America.
tags: Fintech
-
Putting Bakkt’s Bitcoin Futures to the Test
The Intercontinental Exchange’s pending bitcoin platform Bakkt plans to begin testing its two futures contracts on July 22 of this year.
tags: Fintech CryptoAssets Bakkt
-
Circle Pay shuts down – FinTech Futures
The Circle Pay mobile and web apps will shut down on 8 July 2019, as Circle focuses on open blockchain technology and fiat tokens and stablecoins such as USD Coin (USDC).
-
Circle, the company behind USDC, has announced it will allow other institutions to issue and redeem the dollar-pegged stablecoin. Until now, Coinbase and Circle have been the only platforms where users can redeem their USDC, having been the sole members of the CENTRE network
-
Circle and Coinbase Open CENTRE Cross Border Stablecoin Network
Blockchains may proliferate and compete across many different use cases, they would benefit from a common interoperable fiat stablecoin for major currencies that is anchored in a full reserve, transparent and compliant governance scheme.
tags: CrossBorder Fintech Blockchain
-
Steampunk Settlement: Deploying Futuristic Technology to Achieve an Anachronistic Result
In Greenwich Associates’ “Steampunk Settlement: Deploying Futuristic Technology to Achieve an Anachronistic Result” they discuss the medieval results that come from the expensive deployment of futuristic technology, and challenge the idea that DLT could replace today’s clearance and settlement infrastructure.
tags: Blockchain Plumbing Fintech
-
Assignats: The First Tokenization Transactions?
Assignats were paper money backed by confiscated church properties and land, issued by the Constituent Assembly in France from 1789 to 1796, during the French Revolution.
tags: Fintech CryptoAssets Tokenization ICOs
-
The stablecoin market is booming
Binance’s Evolution of Stablecoins report finds that stablecoins are eating into the dominance of Bitcoin and Ethereum pairs, and have grown to represent 60% of traded volume, most of it in Tether.
-
IBM, Hyperledger Blockchain ID System for Banks Launches in Brazil
CIP, a facilitator of Brazilian banking and financial infrastructure, has officially launched its blockchain ID platform via a partnership with IBM using Hyperledger Fabric.
tags: Fintech Blockchain Identity
-
Why Stablecoins Stand Out in the Cryptocurrency World
The use of stablecoins for real-world purposes other than trading remains far off, some analysts and investors say, due to a lack of financial networks that can accept and use cryptocurrencies.
Kiffmeister’s Fintech Daily Digest 06/12/2019
-
Coinbase Card Launches in Six European Countries
Coinbase has launched its Visa debit card in six European countries. Cardholders in Spain, Germany, France, Italy, Ireland and the Netherlands will be able to use the cards, which sync directly to their Coinbase accounts.
-
Legal & General Partners With Amazon to Use Blockchain for Pension Deals
Amazon has partnered with Legal & General to create a blockchain system for managing corporate pension deals. The insurer will make use of the Amazon Managed Blockchain for its bulk annuity transactions.
-
ABX Gets Initial Approval For Crypto Asset Exchange
The United Arab Emirates-based Arabian Bourse (ABX), set up under Abu Dhabi Global Market (ADGM) aims to be a fully regulated crypto asset exchange and custodian.
tags: Fintech CryptoAssets Liquidity
-
Visa Enters The $125 Trillion Global Money Transfer Market With New Blockchain Product
Visa is making transactions faster and more transparent with its newly launched DLT-based B2B Connect product that facilitates direct bank connections. Transactions settle quicker, in one to two days.
tags: Fintech Blockchain PaymentSystems