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“BigTech firms have unique advantages that banks cannot easily replicate and therefore present a much stronger challenge to established banks in consumer finance and loans to small firms. Both Fintech and BigTech are contributing to a secular trend of banks losing their comparative advantage as they have less access to unique information about parties seeking credit.”
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The cryptocurrency industry isn’t replacing Wall Street just yet. But inventors and entrepreneurs are working on it, with some initial success, albeit modest. In this case, an option premium of 0.0202 bitcoin paid via a smart contract may have just become the proof of concept.
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While nowadays there are multiple ways of bypassing MFA protections, the FBI alert specifically warned about SIM swapping, vulnerabilities in online pages handling MFA operations, and the use of transparent proxies like Muraen and NecroBrowser.
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With BitSwing binary options users can take long or short positions on bitcoin’s price within a one-minute time horizon.
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Lykke launched a token called Short Lyci (pronounced as Lucy). Investors in Short Lyci profit whenever the underlying index falls. If for instance the index of 25 currencies declines by a tenth, Short Lyci owners will gain 10 percent,
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The report describes three disruptive ways that fintech can shift the center of gravity of the financial system towards the citizen: first, by increasing the quality and user-friendliness of relevant financial information; second, by reducing financial intermediation that does not add consumer value; and third, by presenting citizens with platforms for collective action, whether through crowd-funding or through consumer, employee, or shareholder actions.
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TransferWise has launched TransferWise for Banks in the U.S. This allows banks, credit unions and other financial institutions to integrate TransferWise’s API directly into their infrastructure, so customers can make international payments from within their banking app.
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Jennifer Robertson, the widow of QuadrigaCX founder Gerald Cotten, is transferring nearly C$12 million in assets to EY Canada, the bankruptcy trustee for the now-defunct crypto exchange.
