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What Recent Developments in the Fintech Space Mean for Our Future

There have been several significant movements forward for digital assets, and there are more to come. Here’s what to keep an eye on. The fintech industry has been changing rapidly. Digital assets, distributed ledger technology and central bank digital currencies are gaining momentum. Multi-trillion-dollar United States Federal Reserve System money creation has increased demand for …

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Mutual fund giant Vanguard has completed another blockchain pilot that aims to change the risk profile of foreign exchange (FX) transactions.

The Valley Forge, Pa.-based investment firm ran the pilot on Symbiont’s Assembly blockchain with participation from State Street, BNY Mellon and investment firm Franklin Templeton. Vanguard and Franklin Templeton acted as dealer banks and State Street and BNY Mellon acted as counterparty banks as well as custodians, said Symbiont’s foreign exchange lead, Joe Ziccarelli. Symbiont …

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JPMorgan’s Blockchain Offshoot Kadena Gets First Ever Token Listing

Kadena preps its first ever listing on Bittrex Global, with initial trading pairs including Bitcoin and Tether. Bittrex Global, one of the world’s most popular platforms for trading cryptocurrencies, is about to become the first crypto exchange to list a token by JPMorgan’s blockchain spin-off Kadena. Kadena token (KDA), is finally getting its first official listing …

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KPMG Launches Patent Pending Crypto Analytics Suite KPMG Chain Fusion for Institutions

KPMG has announced the launch of its patent-pending crypto analytics suite, KPMG Chain Fusion to streamline crypto-related services for financial services and FinTech companies. KPMG Chain Fusion uses a structured data model to combine data from blockchain infrastructures, and traditional systems to provide analytics for business, risk, and compliance purposes.  KPMG has observed that the …

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China’s CBDC Adoption Plan Puts Domestic Monetary Control at Forefront

China’s planned CBDC rollout is expected to see the digital yuan dovetailing with the country’s electronic payment systems. Central bank digital currencies continue to be a popular topic of discussion within the crypto and broader financial circle, with China often dominating the headlines owing to the progress of its planned digital yuan project. On June 22, a former …

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LibertyX Allows BTC Purchases in Cash at 7-Eleven, CVS, and Rite Aid

Retailers including CVS Pharmacy, Rite Aid, and 7-Eleven now allow LibertyX mobile app users to purchase up to $500 in Bitcoin with cash. LibertyX, the firm that launched one of the early Bitcoin ATMs, has just made purchasing Bitcoin in cash possible at more than 20,000 retail locations across the United States.  In a June 22 announcement on …

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Singapore to Explore Central Bank Digital Currency With China

Central banks are both actively exploring the latest development of digital currencies. Speaking at a financial forum in Shanghai last week, Ravi Menon, the managing director of the Monetary Authority of Singapore, said CBDC is currently a very hot topic and highlighted China’s progress in developing its CBDC. Menon said Singapore and China are having …

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ACU white paper officially released, Asian economic integration is just around the corner

On 16 December 2019, the World Digital Currency Forum launched a global launch conference and the ACU white paper launch conference in Hong Kong. The theme of the conference is “subversion, innovation, opportunity, and change”, adhering to the concept of “collision of wisdom, dialogue of the future”, and is committed to promoting exchanges and cooperation …

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ECB PONDERING PROS AND CONS OF A DIGITAL CURRENCY

Last month, we reported that the bank was thinking about issuing a digital currency. The proposal was part of a draft that seeks to ban “high-risk” crypto projects. The ECB’s target is Libra, the global digital currency developed by Facebook, which has been repeatedly criticized by European leaders. Now the central bank is debating the pros and …

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