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Peer-to-peer industry faces harsh reality when winter comes
A slick digital platform, as it turns out, is not enough. Lenders and borrowers need to be found — and finding them is difficult. On the lending side, there were not enough individuals out there willing to put their money at risk in someone else’s small business or credit card consolidation loan.
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Australian Securities Exchange Confirms It’ll Go Blockchain in 2021
The ASX confirmed its anticipation of delivering the CHESS replacement system by 2021, following a new agreement with NYSE-listed tech firm VMware and Digital Asset Holding (DA).
tags: Fintech Blockchain
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“Binance Lending” will allow holders of BNB token, Ethereum classic and Tether to earn interest on their funds. The maximum cap per account is initially set at 500 BNB and 1,000,000 USDT respectively.
tags: Fintech CryptoAssets Collateral
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ASX Ties with VMware for Its Blockchain-Based Settlement System
The Australian Securities Exchange has signed a memorandum of understanding (MoU) with Digital Asset and VMware to boost the development of its blockchain-based equities clearing and settlement system.
tags: Fintech Blockchain
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FINMA Grants License to Two New Crypto Banks
For the first time, FINMA has issued banking and securities dealers’ licences to two pure-play blockchain service providers – SEBA Crypto AG and Sygnum AG, which will offer services for institutional and professional customers.
tags: Fintech Blockchain Regulation
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Swiss Regulator Releases AML/KYC Guidance for Blockchain Payments
Switzerland’s Financial Market Supervisory Authority has released guidance on regulatory requirements for payments on the blockchain under FINMA supervision, to adher to the FATF framework for digital asset regulation issued in June.
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Banks in China Are Increasingly Partnering with BigTechs
According to an analysis by Chinabankingnews.com, at least ten commercial banks in China have inked partnership deals with tech or fintech companies since the beginning of the year.
tags: Fintech
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Libra Association members refuse to public support Facebook’s cryptocurrency plan
Most of Libra’s founding members are refusing to publicly support it. Mastercard, Uber, and PayPal are ignoring inquiries as to whether they are still committed to Libra. Only two of them agreed to answer questions from Business Insider about their support.
Kiffmeister’s Fintech Daily Digest 08/26/2019
