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Policy executives from the Libra Association have been summoned to an October 3 meeting in Washington DC, and on the 14th representatives from the companies are slated to meet in Geneva to review a charter for the Libra Association and appoint a board of directors.
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Visa Inc., Mastercard Inc., PayPal Holdings Inc. and Stripe Inc. are undecided about formally signing onto Libra’s organizing charter because they’re concerned about maintaining positive relationships with regulators who have reservations about the project, the people said.
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Switzerland is more worried about cryptocurrency projects developing outside official scrutiny than about the Facebook-conceived Libra project, which is being handled with openness, the head of Swiss financial supervisor FINMA said on Tuesday.
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One of the key selling points of Facebook’s Libra project was that it would prove a boon the world’s 1.7 billion-strong unbanked community. Over in Africa, however, the humble mobile phone has been fulfilling such a role for the past 20 years.
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Coinbase customers can now earn interest on their USDC stablecoin holdings at a 1.25% annual rate, paid out on a monthly basis.
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Mexican central bank’s real-time payment system CoDi (Cobro Digital, Digital Charge) went live on September 30. Use of the payment system, which uses QR codes or NFC, requires a smartphone and an account at a financial institution.
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Ripple’s Xpring is launching a platform it says makes it possible for developers to integrate fiat and cryptocurrency payments into any application.
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The paper presents data on regulatory sandboxes and innovation hubs and argues that the data so far available does not justify the statement that regulatory sandboxes are the most effective approach to building FinTech ecosystems.
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For anyone working in the digital assets space — be it cryptocurrencies or asset tokenization — the question of how the custody industry can evolve to support digital assets is still unresolved. The starting point perhaps should be: What do we actually mean by digital custody?
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US banks are future-proofing by actively investing in fintech startups. In 2019 YTD, US banks have participated in 24 equity deals to fintech companies. This follows a record 2018, where US banks backed 45 equity deals to fintech startups — a 180% increase from 2017.tags: Fintech
Kiffmeister’s Fintech Daily Digest 10/02/2019
