The lies spread by bankers about cryptocurrencies
Chris Skinner
MARCH 19, 2018
I had a chat with The Financial Times the other day, and provided lots of background as to why I don’t think cryptocurrencies are the choice of criminals.
How quantum will change everything (including banking, money and security)
Chris Skinner
MARCH 21, 2018
I know that we deal with quite complicated things in financial technologies.
Security 
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Trending Sources
Federal Banks, Savings Associations Win Approval For Some Crypto Activities
PYMNTS
SEPTEMBER 22, 2020
The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. . Jeremy Allaire , CEO of financial technology firm Circle , told PYMNTS that digital currencies are ready to transition from speculation to become a broadly adopted payments instrument.
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What happened to the bitcoin bubble?
Chris Skinner
JULY 18, 2017
Now that it has burst, the interview seems quite prescient so, here it is … UBS interview with Chris Skinner Cryptocurrencies – digital currencies based on encryption – are in the midst of a bubble, but that should not overshadow the genuinely transformative change that is taking place within the financial services industry.
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Canadian Firm Fintech Select Launches ‘Physical Bitcoin’ Product
Bank Innovation
JANUARY 2, 2018
Fintech Select, a financial technology firm based in Canada, has created a “physical bitcoin” product to pair with its “Selectcoin” cryptocurrency POS platform, the company said.
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Legislators Work On Proposal For Japan To Create Its Own Crypto
PYMNTS
JANUARY 24, 2020
In a move that signals Tokyo’s concern regarding China’s effort to make a digital yuan, as well as Facebook’s Libra, a collection of ruling party legislators is crafting a proposal for Japan to create its own cryptocurrency.
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Bitcoin Daily: UK Researching CBDC Use Cases; Lebanon To Introduce CBDC In 2021; SEC Member Pushes For Cryptocurrency Regulation; ShapeShift Delists Three Privacy Coins
PYMNTS
NOVEMBER 10, 2020
In other news, Securities and Exchange Commission (SEC) member Hester Peirce expressed hope that securities regulations concerning cryptocurrencies will speed up to match the speed of financial technology innovation. 6), CoinDesk reported, citing regulatory concerns.
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EU To Crack Down On Stablecoin Projects
PYMNTS
JUNE 29, 2020
The European Union (EU) is preparing to update its cryptocurrency rules that could make it more difficult for stablecoin projects, such as Facebook Inc.’s Last fall, the Libra Association petitioned the Swiss Financial Market Supervisory Authority ( FINMA ) for a Swiss payment system license for its planned cryptocurrency.
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Crypto 2020: One Step Up; Two Steps Back
PYMNTS
DECEMBER 24, 2020
If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Building The (Retail) Use Cases.
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FinTech Startup Revolut Raises $80M In New Funding, Now Valued At $5.5B
PYMNTS
JULY 24, 2020
Since then, the financial technology (FinTech) company has expanded its portfolio to also offer business banking. with an app and debit card, expanded into cryptocurrency trading with Paxos Trust Co., Revolut is an app-based consumer bank account that allows customers to send and receive money and use built-in budgeting tools.
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OCC’s New Office of Financial Technology Portends Increased Supervisory Activity
CFPB Monitor
NOVEMBER 7, 2022
The OCC’s announcement that it will establish an Office of Financial Technology to “bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape” should come as no surprise to those who have been following recent pronouncements of Acting Comptroller Michael J.
The Impact of Technology on Banking: Revolution or Evolution?
Bank Innovation
JANUARY 2, 2019
All that is changing due to emerging technologies. The banking industry is facing many unprecedented challenges due to the rise of financial technology companies. For quite a long time, traditional brick and mortar banks only had to worry about making money and being profitable.
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Fintech and Blockchain: Where Silicon Alley Meets Hyperconverged Infrastructure
Bank Innovation
MAY 3, 2019
You may not have heard of the term “Silicon Alley,” but I am sure you are aware of the game-changing financial technology that is emanating from it. Silicon Alley” was initially coined in the mid-1990s as a way to group media startups housed around the Flatiron neighborhood of Manhattan.
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ACI Worldwide, Mastercard Join Together To Ramp Up Real-Time Payments
PYMNTS
SEPTEMBER 29, 2020
He added that the new partnership “will provide great benefit not only to banks and central infrastructures” but to merchants, their customers and financial technology companies (FinTechs). In July , ACI added new services that will help to speed up real-time payments, a press release said.
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Financial technology needs rules of engagement
Payments Source
NOVEMBER 13, 2018
Policymakers and industry officials should join forces in creating regulations and standards for cryptocurrencies, artificial intelligence and other innovations before they become more widespread.
German Finance Minister Speaks Out Against Stablecoins
PYMNTS
SEPTEMBER 18, 2019
17) about proposed cryptocurrencies like Facebook’s Libra and said Berlin would reject them, according to a report by Reuters. Speaking about stablecoins, which are cryptocurrencies backed by more traditional financial products, like fiat currency, securities or gold, Scholz said, “We cannot accept a parallel currency.
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Russian Central Bank Says ‘Nyet’ To Digital Crypto
PYMNTS
OCTOBER 10, 2019
The regulator made the remarks at the Finopolis forum of innovative financial technologies. “As Russia’s Central Bank , we have been studying this topic and the need to issue a national cryptocurrency is not obvious for us. She has said that she sees the promise of blockchain technology , however.
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108 Bitcoin Drops Below $6,000
PYMNTS
NOVEMBER 15, 2018
The market capitalization of bitcoin, the leading cryptocurrency, declined to under $100 billion for the first time since October of 2017 amid a steep sell-off in digital tokens Wednesday (November 14). A big sell-off in cryptocurrency that started Wednesday continued on Thursday (November 15) in Asia. billion, versus Ether’s $18.26
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134 Is mPOS The New Nonprofit Nonoptional?
PYMNTS
DECEMBER 5, 2018
In one recent move, for example, financial technology provider Payscape partnered with CardFlight to bring the latter’s SwipeSimple mPOS solution to more merchants. The pair recently announced they would work to create a series of mPOS solutions that can accept both cryptocurrency retail payments and card payments.
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Central Bank In Russia Skeptical Of National Crypto Benefits
PYMNTS
OCTOBER 10, 2019
The regulator made the remarks at the Finopolis forum of innovative financial technologies. “As Russia’s Central Bank , we have been studying this topic and the need to issue a national cryptocurrency is not obvious for us. She has said that she sees the promise of blockchain technology , however.
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Bitcoin Daily: Tether Beats Out Bitcoin In Trading Volume; EOS Receives $24M Fine From SEC
PYMNTS
OCTOBER 2, 2019
Believe it or not, bitcoin is no longer the most used cryptocurrency, with data from CoinMarketCap.com revealing that the token with the highest daily and monthly trading volume is Tether. Some of the concerning potential patters of trading in the market may start to fall away.”.
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FB Touched Base With Fed On Crypto
PYMNTS
JUNE 20, 2019
Federal Reserve Chairman Jerome Powell revealed that Facebook has spoken to the central bank about its upcoming cryptocurrency, called Libra. Powell added that the Fed meets “with a broad range of financial sector firms all the time on financial technology.”.
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The Finanser’s Week: 6th March – 12th March 2017
Chris Skinner
MARCH 11, 2017
As referenced in my R3 fake news last week, there are various camps out there fighting for the cryptocurrency crown. It sheds light on where challenger banks and financial technology (fintech) firms can make ground on the established banks. The lead runners are bitcoin and Ethereum, and both have serious backing.
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How Treasurers Can Prepare For A Real-Time Payments Ecosystem
PYMNTS
AUGUST 3, 2020
One financial technology firm currently navigating the process of securing a bank charter is Avanti Financial Group , and as it approaches market launch, Founder and CEO Caitlin Long said the firm is focusing on another area of financial services that has struggled to manage complex regulatory challenges: digital assets. .”
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Brex Offers FDIC Insurance, Adds Chief Legal Officer
PYMNTS
JULY 22, 2020
Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.
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166 Through New Oracle Partnership, Baton Systems is Bringing the Cloud, APIs, DLT to Banks
Bank Innovation
MARCH 16, 2018
EXCLUSIVE—The legacy infrastructure of most banks leaves something to be desired, and payments technology provider Baton Systems wants to use the cloud, APIs, and distributed ledger technology to help.
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Mastercard Adds More Startups To Its Accelerate Program
PYMNTS
AUGUST 12, 2020
Mastercard is expanding its Accelerate financial technology (FinTech) portfolio and is adding 11 companies to its Start Path startup engagement program, according to a Wednesday (Aug. 12) announcement. The company said its efforts recognize “the important role FinTechs play in the world’s rapid digital transformation.”.
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BOE Head Carney: FinTech Won’t Make Central Banks Obsolete
PYMNTS
OCTOBER 16, 2019
The governor of the Bank of England said he doesn’t think new financial technologies (FinTechs) will cause central banks to be obsolete. Carney said he is open to Facebook’s Libra cryptocurrency, unlike officials in France and Germany , who have outright said they don’t want it to happen.
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Bitcoin Daily: Speedy Crypto Exchange Launched By Former Morgan Stanley Developers; Starling Bank Co-founder Joins Winklevoss’ Gemini Trust
PYMNTS
DECEMBER 4, 2019
A group of former software developers from Morgan Stanley have created a cryptocurrency derivatives exchange that will reportedly execute trades in less than a millisecond for both retail and institutional investors. Phemex has been in the beta testing phase for several weeks, and started trading on Nov. These things will just take time.”.
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Small Businesses Making Big Mistake By Going Cash-Only, Report Finds
PYMNTS
MAY 26, 2017
Small businesses that ignore next-generation payments technologies like invisible payments or cryptocurrencies are losing out big time, but new research suggests that tens of thousands of dollars are lost by SMEs because they aren’t even accepting cards. Analysis from Expert Market found that some small businesses in the U.K.
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Wirecard Collabs To Digitize Business Banking In Philippines
PYMNTS
MARCH 2, 2020
Fajardo added that the partnership will empower businesses by offering financial services that will help them create a positive economic impact. “As She added that the companies have a common goal of advancing financial inclusion in the country. “We
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France’s Central Bank Latest To Ponder A Digital Currency
PYMNTS
NOVEMBER 27, 2019
It started a FinTech-targeted Innovation Hub this month, saying that the hub should “foster international collaboration among central banks on innovative financial technology.” . The ECB has been open to the idea, and could already be experimenting.
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SMB Challenger Banks A Hot Spot With VCs
PYMNTS
FEBRUARY 15, 2019
Compliance startup Chainalysis works with law enforcement officials and financial institutions (FIs) to ensure that their cryptocurrency operations are within regulations. Open Financial Technologies. India’s Open Financial Technologies raised $4.6 Chainalysis also plans to open an office in the U.K
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Cryptos, Blockchain Listed Among SEC Priorities In 2020
PYMNTS
JANUARY 8, 2020
Among them: cryptocurrencies and the financial (alternative) data that is used in the investment realm. In reference to financial technology, the OCIE noted in its 2020 priorities list, too, that alternative sources of data increasingly are being used by the investment industry. In documents released Tuesday (Jan.
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Bitcoin Daily: Binance Denies Reports Of Police Raid; Blockchain Expands To Gaming Payments
PYMNTS
NOVEMBER 21, 2019
“The young demographic in India give[s] an edge to adopt and build on new financial technologies, and I believe this will play a vital role in making India a global blockchain innovation center to also spur cryptocurrency adoption throughout the larger public in the country,” said CEO Changpeng Zhao of Binance in a press release.
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Taiwan’s Central Bank Might Implement Blockchain
PYMNTS
FEBRUARY 28, 2018
According to news from Finance Magnates , Yang Chin-long, the new governor of the bank, spoke about utilizing new technology — including artificial intelligence, Big Data and blockchain — in the country’s banking system during his inauguration ceremony.
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105 Can Moscow Overcome A Tarnished Tech Reputation?
PYMNTS
NOVEMBER 11, 2016
A renewed focus has been placed on researching and testing blockchain applications, as well as pushing the development of information and financial technology within the country, The CoinTelegraph reported. “It It is of no less significance than the creation of the internet.
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Bitcoin Daily: People’s Bank Of China To Certify Digital Payment Products; Korean Security Agency Supports Blockchain Projects With $9M Fund
PYMNTS
OCTOBER 30, 2019
The People’s Bank of China announced that it will certify 11 types of financial technology hardware and software used for digital payment and blockchain services. Blockchain’s future is here, but we must remain rational,” he said, according to state-run news outlet the People’s Daily. billion won (about $9 million US) in funding.
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SEC freeze of blockchain-linked funds backed by federal judge
Payments Source
MAY 2, 2018
A federal judge ruled three business associates of a financial technology company are likely to lose at a trial over government accusations that they sold unregistered stock in the firm after a rally linked to cryptocurrency.
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63 Promontory Financial Group CEO on the future of RegTech
Insights on Business
MARCH 12, 2018
Promontory is now a key component of IBM Watson Financial Services. During the interview, he describes how we are in the middle of a cryptocurrency “explosion” that is ripe for regulation. Ludwig also expects new regulatory interest in the vast expanse of emerging financial technologies and services. Watch the video.
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Kenya CMA drafts Sandbox Rules to test Bitcoin and other Fintech
Bankelele
JUNE 29, 2017
Kenya’s Capital Markets Authority (CMA) has proposed rules to create a regulatory fintech sandbox for innovations which do not fit within the country’s current financial regulatory framework. The post Kenya CMA drafts Sandbox Rules to test Bitcoin and other Fintech appeared first on Bankelele.
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63 MEDICI now! The Payza Story
Let's Talk Payments
AUGUST 11, 2017
Startup Stories highlights the companies that are shaping the new financial technology industry. MEDICI now! Keep an eye out each week for new stories! If you or someone you know.
Circle Rolls Out USD Digital Coin
PYMNTS
SEPTEMBER 26, 2018
Leveraging $20M in funding raised last year, CENTRE is launching its broader membership framework, which includes other established financial technology firms as additional issuers,” the executives noted. . “While Circle may be the first USDC issuer, we will certainly not be the last.
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180 Bitcoin Daily: Bank Of Canada Tests DLT; Crypto Startup Uphold Gets Into Loans
PYMNTS
OCTOBER 23, 2018
In a statement, Bank of Canada’s Senior Special Director of Financial Technology Scott Hendry said, “[Distributed ledger technology (DLT)] is a promising technology that has the potential to reduce costs for participants and open new opportunities.
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