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“The main gap, or next frontier in terms of central banking activities would be to find efficient ways to connect our fast payment systems so that they can be used by citizens to transfer remittances to send money back home, to send money across borders, so that cryptocurrencies would be less needed in the first place.”
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A number of central banks around the world are seriously considering issuing retail central bank digital currency, with one likely to arrive in the next five years. That is the key finding from a report from IBM and OMFIF, a central banking think tank.
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Uber is creating a new division called Uber Money to handle its growing financial services business. The group will oversee everything from the company’s credit and debit card offerings, to digital wallets for riders, to products used by drivers to get paid in a timely manner.
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At the heart of the Raisin model is a platform that allows savers to move their deposits to banks that offer a higher interest rate than their local providers. “The average interest rate on deposits at the large US banks is 0.01 percent. But there are around 6,000 U.S. banks. Some of them offer rates of more than 2 percent.
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The U.S. SEC granted Paxos no-action relief to settle equity securities trades on a blockchain platform for broker-dealers. Credit Suisse and Société Générale would be the first two companies to utilize the new Paxos Settlement Service.
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Crypto exchange OKEx is planning to launch Tether-based futures trading, offering a linear futures contract with leverage of up to 100x. The contract will have daily settlement and offers supported pairs with Bitcoin, EOS, Ether, Litecoin, Bitcoin Cash, XRP, Ethereum Classic, Bitcoin SV and Tron.
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According to cybersecurity firm Ciphertrace, its software can track 87% of the global cryptocurrency transaction volume, which may mean that authorities can use monitoring methods not only against criminals but also against ordinary people.
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For some years now there has been a discussion at the European Commission regarding harmonization of online capital formation rules. Today, crowdfunding is regulated at the member state (national) level creating a mish-mash of European regulations that defy the entire concept of a single market – the entire reason the Europe Union was created.
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Of all the many emerging blockchain use cases for enterprises, supply chain track and trace is a hot topic. The idea that food especially can be safely and securely traced from farm to table is something that benefits many players in the production sector.
