Stephen Moore: Facebook’s Libra Is a New Challenge to Banks

Just when it seems the entire world is against Facebook’s Project Libra, Mark Zuckerberg and his team have gotten a new friend in Stephen Moore, an American writer, television commentator, and confidant of U.S. President Donald Trump. Moore has described Libra cryptocurrency as an interesting venture that represents a new challenge to central banks, reports […]

BIS Wants ‘Level Playing Field’ for Banks Amid Threat From Firms Like Facebook

The Bank for International Settlements (BIS), often described as the bank for central banks, has issued its annual report for 2019, expressing concerns over the expected disruption as big tech firms like Facebook enter the financial space. While titled “Big tech in finance: opportunities and risks,” the report looks at the risks and challenges posed […]

Facebook’s Foray into Cryptocurrency Poses New Risks for Banks

The Bank of International Settlements (BIS) has warned that the financial services poised to be offered by big tech firms such as Facebook, Google and Amazon could generate new risks for the banking sector. The BIS — an international financial institution in Switzerland owned by 60 of the world’s central banks — published a report […]

Ripple (XRP) Undervalued, Libra Is A Wake-Up Call For Banks

Ripple (XRP) adds 10.3 percent Brad Garlinghouse bullish on Bitcoin At the backdrop of Facebook and its coin Libra, XRP is steady. While volatility is low and volume shrinking, a break above 50 cents is likely. Such a move will cement bulls of early May and catalyze a race for 80 cents or higher. Ripple […]

As Brazil’s Economy Risks Recession, Regulators and Banks Implement Blockchain

Brazil’s weak economic growth and inflationary pressure have led to more than 13 million Brazilians currently out of work. The unemployment rate currently stands at 12.5%. While the country runs the risk of recession, cryptocurrency’s low barrier for entry and promise of large returns appeal to Brazilians. Bruno Peroni, chief sales officer at Atlas Quantum, […]

Italy’s Banks to Use Blockchain to Boost Settlements and Improve Transparency

Italian banks will deploy blockchain technology to run reconciliations starting in March 2020, financial technology news outlet Finextra reported on June 18. The Italian Banking Association (ABI) has announced that Italy’s banks will integrate distributed ledger technology (DLT) into internal processes to boost settlements. The deployment of blockchain is also set to improve transparency in […]

Facebook’s Cryptocurrency Wants to Take on Banks, Not Bitcoin

George McDonaugh is CEO and co-founder of KR1 plc, a London listed cryptocurrency and blockchain investment company. Facebook is creating its own cryptocurrency – something that even those of us necking the crypto Kool Aid back in the early bitcoin days never in our wildest dreams thought would happen. The details are emerging, but what […]

Dow Spikes 150 Points as Central Banks Pump Easy Monetary Policy

Published: 18/06/2019 10:00 EST. Journalist: By CCN Markets: The Dow and broader U.S. stock market opened sharply higher on Tuesday after European Central Bank (ECB) officials signaled that a new round of stimulus was on the horizon. Dow Surges After Open All of Wall Street’s major indexes opened higher on Tuesday, reflecting a strong pre-market […]

Appetite for Blockchain Tech Builds Among Korean Banks, but Without Crypto

In recent weeks, major South Korean financial institutions have rolled out a number of services incorporating blockchain technology, especially in the areas of Know Your Customer (KYC) procedures and security. Fintech has become a buzzword for local banks trying to keep up with the change of the times. The banks, however, are not looking into […]

Facebook Hires Standard Chartered Bank’s Head of Public Affairs for Crypto Project

Facebook has reportedly hired Standard Chartered Bank’s head of public affairs Ed Bowles for its cryptocurrency project, the Financial Times reports on June 14. Per the report, Facebook hired the senior bank lobbyist in anticipation of the greater regulatory scrutiny in Europe over its plans to launch its own crypto asset and other financial services […]