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FinTech, BigTech, and the Future of Banks - 0 views

www.nber.org/w26312

Fintech Regulation

shared by John Kiff on 08 Oct 19 -

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John Kiff on 08 Oct 19

"BigTech firms have unique advantages that banks cannot easily replicate and therefore present a much stronger challenge to established banks in consumer finance and loans to small firms. Both Fintech and BigTech are contributing to a secular trend of banks losing their comparative advantage as they have less access to unique information about parties seeking credit."

<div class="cArrow"> </div><div class="cContentInner">"BigTech firms have unique advantages that banks cannot easily replicate and therefore present a much stronger challenge to established banks in consumer finance and loans to small firms. Both Fintech and BigTech are contributing to a secular trend of banks losing their comparative advantage as they have less access to unique information about parties seeking credit."</div>

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UN Interim Report on Findings on the Power of Fintech to Advance Sustainable Development - 0 views

digitalfinancingtaskforce.org/pr-report

shared by John Kiff on 08 Oct 19 -

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John Kiff on 08 Oct 19

The report describes three disruptive ways that fintech can shift the center of gravity of the financial system towards the citizen: first, by increasing the quality and user-friendliness of relevant financial information; second, by reducing financial intermediation that does not add consumer value; and third, by presenting citizens with platforms for collective action, whether through crowd-funding or through consumer, employee, or shareholder actions.

<div class="cArrow"> </div><div class="cContentInner">The report describes three disruptive ways that fintech can shift the center of gravity of the financial system towards the citizen: first, by increasing the quality and user-friendliness of relevant financial information; second, by reducing financial intermediation that does not add consumer value; and third, by presenting citizens with platforms for collective action, whether through crowd-funding or through consumer, employee, or shareholder actions.</div>

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TransferWise launches TransferWise for Banks in the U.S. with Novo - 0 views

tearsheet.co/...for-banks-in-the-u-s-with-novo

Fintech CrossBorder Payments

shared by John Kiff on 08 Oct 19 -

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John Kiff on 08 Oct 19

TransferWise has launched TransferWise for Banks in the U.S. This allows banks, credit unions and other financial institutions to integrate TransferWise's API directly into their infrastructure, so customers can make international payments from within their banking app.

<div class="cArrow"> </div><div class="cContentInner">TransferWise has launched TransferWise for Banks in the U.S. This allows banks, credit unions and other financial institutions to integrate TransferWise's API directly into their infrastructure, so customers can make international payments from within their banking app.</div>

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The First Short Token to Bet Against the Crypto Market - 0 views

fintechnews.ch/...31036

Fintech CryptoAssets Derivatives

shared by John Kiff on 08 Oct 19 -

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John Kiff on 08 Oct 19

Lykke launched a token called Short Lyci (pronounced as Lucy). Investors in Short Lyci profit whenever the underlying index falls. If for instance the index of 25 currencies declines by a tenth, Short Lyci owners will gain 10 percent,

<div class="cArrow"> </div><div class="cContentInner">Lykke launched a token called Short Lyci (pronounced as Lucy). Investors in Short Lyci profit whenever the underlying index falls. If for instance the index of 25 currencies declines by a tenth, Short Lyci owners will gain 10 percent, </div>

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QuadrigaCX Founder's Widow Will Cough Up $9 Million to Repay Users - 0 views

www.coindesk.com/gh-up-9-million-to-repay-users

Fintech CryptoAssets Liquidity CyberCrime Canada

shared by John Kiff on 08 Oct 19 -

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John Kiff on 08 Oct 19

Jennifer Robertson, the widow of QuadrigaCX founder Gerald Cotten, is transferring nearly C$12 million in assets to EY Canada, the bankruptcy trustee for the now-defunct crypto exchange.

<div class="cArrow"> </div><div class="cContentInner">Jennifer Robertson, the widow of QuadrigaCX founder Gerald Cotten, is transferring nearly C$12 million in assets to EY Canada, the bankruptcy trustee for the now-defunct crypto exchange.</div>

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Telegram Bitcoin Rival Scores Big Win Over Facebook's Libra - 0 views

www.forbes.com/...set-for-bitcoin-rival-showdown

Fintech CryptoAssets PaymentSystems Stablecoins Facebook Telegram

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

Anchorage, one of the 28 Libra Association founding members, will allow organizations developing products and services on Telegram's blockchain-based Telegram Open Network platform, to store their gram online currency securely when it launches next month.

<div class="cArrow"> </div><div class="cContentInner">Anchorage, one of the 28 Libra Association founding members, will allow organizations developing products and services on Telegram's blockchain-based Telegram Open Network platform, to store their gram online currency securely when it launches next month.</div>

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Anchorage: First Qualified Custodian for Telegram's Gram - 0 views

medium.com/...telegram-custody-31338e106e2b

Fintech CryptoAssets PaymentSystems Stablecoins Telegram Facebook

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

Anchorage, one of the 28 Libra Association founding members, will allow organizations developing products and services on Telegram's blockchain-based Telegram Open Network platform, to store their gram online currency securely when it launches next month.

<div class="cArrow"> </div><div class="cContentInner">Anchorage, one of the 28 Libra Association founding members, will allow organizations developing products and services on Telegram's blockchain-based Telegram Open Network platform, to store their gram online currency securely when it launches next month. </div>

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Class Action Accuses Tether and Bitfinex of Market Manipulation - 0 views

cointelegraph.com/...itfinex-of-market-manipulation

Fintech CryptoAssets Stablecoins Tether Bitfinex

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

Roche Freedman filed a class-action suit claiming that stablecoin firm Tether and its affiliate crypto exchange Bitfinex have been involved in defrauding investors, manipulating markets and concealing illicit proceeds, the firm's founding partner Kyle Roche tweeted on Oct. 7.

<div class="cArrow"> </div><div class="cContentInner">Roche Freedman filed a class-action suit claiming that stablecoin firm Tether and its affiliate crypto exchange Bitfinex have been involved in defrauding investors, manipulating markets and concealing illicit proceeds, the firm's founding partner Kyle Roche tweeted on Oct. 7.</div>

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U.S. Treasury continues exploring terror cat bonds for risk sharing - 0 views

www.artemis.bm/...ror-cat-bonds-for-risk-sharing

ART ILS CAT Terrorism

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

The United States Treasury continues to explore its options for terrorism risk sharing with private markets, with terrorism catastrophe bonds once again under discussion at committee level.

<div class="cArrow"> </div><div class="cContentInner">The United States Treasury continues to explore its options for terrorism risk sharing with private markets, with terrorism catastrophe bonds once again under discussion at committee level.</div>

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UNUSED LEO: Bitfinex's Token Crashes Beneath its $1 Private Sale Price - 0 views

bitcoinist.com/neath-its-1-private-sale-price

Fintech CryptoAssets Stablecoins Bitfinex Tether

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

LEO is a curiosity in the crypto space, spawned after an initial exchange offering (IEO) by Bitfinex that ran until June 10. According to the claims of Bitfinex, the exchange raised $1 billion from private placements. Conveniently placed, the IEO in effect offset the $900 million debt to Tether, Inc.

<div class="cArrow"> </div><div class="cContentInner">LEO is a curiosity in the crypto space, spawned after an initial exchange offering (IEO) by Bitfinex that ran until June 10. According to the claims of Bitfinex, the exchange raised $1 billion from private placements. Conveniently placed, the IEO in effect offset the $900 million debt to Tether, Inc.</div>

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Class action lawsuit against Bitfinex and Tether filed by lawyers who successfully sued... - 0 views

www.theblockcrypto.com/...successfully-sued-craig-wright

Fintech CryptoAssets Stablecoins Bitfinex Tether

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

A class action lawsuit was filed today against Bitfinex, Tether and others was filed in the United States District Court in the Southern District of New York. The new federal court class action lawsuit alleges over $1.4 trillion in damages suffered by class members.

<div class="cArrow"> </div><div class="cContentInner">A class action lawsuit was filed today against Bitfinex, Tether and others was filed in the United States District Court in the Southern District of New York. The new federal court class action lawsuit alleges over $1.4 trillion in damages suffered by class members.</div>

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Decentralized Finance, Explained - 0 views

cointelegraph.com/...ecentralized-finance-explained

Fintech CryptoAssets DeFi

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

"Decentralized finance (known as DeFi, for short) essentially involves a brand-new monetary system being built on public blockchains."

<div class="cArrow"> </div><div class="cContentInner">"Decentralized finance (known as DeFi, for short) essentially involves a brand-new monetary system being built on public blockchains."</div>

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The Ties That Bind Facebook's Libra - 0 views

www.wired.com/...ties-bind-facebooks-libra

Fintech CryptoAssets Stablecoins Facebook

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

A WIRED analysis finds that 15 of the 27 founding members of the Libra Association are directly or indirectly tied to Facebook. The total includes members that employ former Facebook executives, members whose boards include Facebook board members, and numerous ties through common investors.

<div class="cArrow"> </div><div class="cContentInner">A WIRED analysis finds that 15 of the 27 founding members of the Libra Association are directly or indirectly tied to Facebook. The total includes members that employ former Facebook executives, members whose boards include Facebook board members, and numerous ties through common investors.</div>

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Does anyone use the IMF's SDR? - 0 views

www.bullionstar.com/...does-anyone-use-the-imfs-sdr

Fintech CryptoAssets Stablecoins SDR

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

Here is a quick survey of the SDR and the many appearances it makes in modern life. The SDR is a fairly minor currency, but it is surprising to see some of the economic nooks and crannies where it is being used.

<div class="cArrow"> </div><div class="cContentInner">Here is a quick survey of the SDR and the many appearances it makes in modern life. The SDR is a fairly minor currency, but it is surprising to see some of the economic nooks and crannies where it is being used.</div>

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Good News, Facebook Doubters: You Can Bet on Libra Being Delayed - 0 views

www.bloomberg.com/...vatives-to-bet-on-libra-delays

Fintech CryptoAssets Stablecoins Facebook Derivatives

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

CoinFLEX is offering physically-settled futures that will deliver Libra tokens if the so-called stablecoin is live by Dec. 30, 2020, or the settlement date. If Libra is not operational by then, investors will receive nothing and will have lost their initial investment.

<div class="cArrow"> </div><div class="cContentInner">CoinFLEX is offering physically-settled futures that will deliver Libra tokens if the so-called stablecoin is live by Dec. 30, 2020, or the settlement date. If Libra is not operational by then, investors will receive nothing and will have lost their initial investment.</div>

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John McAfee's Decentralized Crypto Exchange Launches in Beta - 0 views

cointelegraph.com/...ypto-exchange-launches-in-beta

Fintech CryptoAssets Liquidity DEX

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

John McAfee has launched a decentralized exchange (DEX) running on the Ethereum (ETH) blockchain.

<div class="cArrow"> </div><div class="cContentInner">John McAfee has launched a decentralized exchange (DEX) running on the Ethereum (ETH) blockchain.</div>

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Bitfinex 'Chainswaps' $5M Worth of USDT Onto EOS Protocol - 0 views

cointelegraph.com/...orth-of-usdt-onto-eos-protocol

Fintech CryptoAssets Stablecoins Tether Bitfinex

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

Bitfinex in conjunction with EOSFinex, its decentralized trading platform, have announced that they had successfully completed a "chainswap" to convert $5 million worth of Tether stablecoins onto the EOS blockchain protocol.

<div class="cArrow"> </div><div class="cContentInner">Bitfinex in conjunction with EOSFinex, its decentralized trading platform, have announced that they had successfully completed a "chainswap" to convert $5 million worth of Tether stablecoins onto the EOS blockchain protocol.</div>

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Hong Kong Regulator Publishes New Rules for Crypto Fund Managers - 0 views

www.sfc.hk/...doc

Fintech CryptoAssets Regulation

shared by John Kiff on 07 Oct 19 -

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John Kiff on 07 Oct 19

Hong Kong' Securities and Futures Commission published a new set of rules for crypto-asset fund managers. They include guidelines on how funds should be structured, risk management, custodianship, record-keeping, asset segregation, and other legal and logistical matters.

<div class="cArrow"> </div><div class="cContentInner">Hong Kong' Securities and Futures Commission published a new set of rules for crypto-asset fund managers. They include guidelines on how funds should be structured, risk management, custodianship, record-keeping, asset segregation, and other legal and logistical matters.</div>

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Crypto Rebels Trip Over Each Other en Route to Financial Utopia - 0 views

www.bloomberg.com/...r-en-route-to-financial-utopia

CryptoAssets DeFi Fintech MakerDAO Stablecoins

shared by John Kiff on 07 Oct 19 - No Cached

John Kiff on 07 Oct 19

"MakerDAO and DeFi more generally are helping to provide an answer to the question that hangs over crypto. After the bubble, then crash, of 2017 and 2018, it's natural to ask, 'What do we use this stuff for?' DeFi is the first legitimate answer to the question. DeFi is starting to have its moment because it's the next chapter for crypto."

<div class="cArrow"> </div><div class="cContentInner">"MakerDAO and DeFi more generally are helping to provide an answer to the question that hangs over crypto. After the bubble, then crash, of 2017 and 2018, it's natural to ask, 'What do we use this stuff for?' DeFi is the first legitimate answer to the question. DeFi is starting to have its moment because it's the next chapter for crypto."</div>

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Fiat-Backed Stablecoins ⁠- Attempt to Take the Best of Both Worlds - 0 views

cointelegraph.com/...o-take-the-best-of-both-worlds

Fintech CryptoAssets Stablecoins

shared by John Kiff on 07 Oct 19 - No Cached

John Kiff on 07 Oct 19

This is a nice capsule summary of the existing stablecoin landscape, although bizarrely it doesn't include USDC which is #2 by market cap.

<div class="cArrow"> </div><div class="cContentInner">This is a nice capsule summary of the existing stablecoin landscape, although bizarrely it doesn't include USDC which is #2 by market cap.</div>

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