After an earlier attempt, China Construction Bank has gone back to the drawing board with new partners and a new proof-of-concept for a blockchain-based bond. China Construction Bank, the world’s second-largest bank by assets, is cooperating with Malaysian and Singaporean partners to test blockchain technology for use in the bond market. As previously reported, China […]
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FinHub will have new independence and responsibilities, reporting directly to the SEC’s chairman. Per a Dec. 3 announcement, the Securities and Exchange Commission’s fintech team will become an independent office. Initially launched in 2018 under the guidance of Bill Hinman, the SEC’s Strategic Hub for Innovation and Financial Technology, or FinHub, has been a leading force […]
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COVID-19 could force the Bank of Canada to launch a CBDC sooner than previously expected. Timothy Lane, Deputy Governor of the Bank of Canada and head of research at the bank’s fintech and crypto department, claimed that Canada’s central bank digital currency, or CBDC, might see the light of the day “sooner than expected. Lane […]
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A new bill introduced to Congress seeks to control the entire stablecoin industry by requiring all related activities to obtain federal approval first A new bill, introduced to US Congress on Wednesday night, could enforce blanket regulation on all stablecoins. If passed, any service provided in relation to these types of cryptocurrencies would become illegal […]
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The new credit card will offer Bitcoin rewards rather than airline miles or cash. Visa and BlockFi are teaming up to launch a new credit card that rewards users with Bitcoin (BTC), setting the stage for wider mainstream adoption of digital currency. BlockFi, a New York-based startup specializing in crypto-backed loans and savings accounts, announced […]
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The company behind USDC has added a new face that could help further institutional adoption. Centre Consortium, the company behind USD Coin, has hired former State Street and JPMorgan executive David Puth as its new chief executive officer, or CEO. Centre made the announcement early Tuesday in a Medium post that praised Puth for his […]
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Tutors, taxi drivers and repairmen will be able to take advantage of Alfa-Bank’s blockchain-based services. Alfa-Bank, one of the largest private commercial banks in Russia, is exploring blockchain technology in its services for freelancers. According to a Dec. 1 announcement, Alfa-Bank will use blockchain-based applications to automate services for freelancers and self-employed workers. Based on […]
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The sector has a long way to go in terms of accessibility if DeFi really wants to challenge traditional financial institutions. As the COVID-19 outbreak wreaks havoc on the United States’ economy and abroad, investors grapple with a second economic downturn in just over a decade. While the 2008 financial crisis and the coronavirus pandemic […]
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True innovations are a serious problem for traditional financial institutions, but fintech and crypto startups have the solution. When banks finally come to improve their technology experience, they go no deeper than changing the front end. They’ll make a button blue instead of green or create rounded edges on buttons instead of square ones. They […]
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Intuit, which also owns TurboTax, can’t hold all the keys to consumer tax software, the DoJ says. Per an announcement and series of filings on Wednesday, the United States Department of Justice is calling shenanigans on Intuit’s ambitions, at least in part. Intuit owns a stable of user-facing finance software, including budgeting app Mint, digital do-it-yourself […]
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