As commerce accelerates and consumers and small businesses increasingly expect continuous sale, purchase, and delivery of products, the Federal Reserve announced today that it is seeking comments on a realtime payments settlement system. Fed governor Lael Brainard, who chairs the board's Payments, Clearing, and Settlements committee, made the announcement in a speech to the … [Read more...] about Fed Suggests Realtime Payments Settlement Scenarios
Lending Gaps and Lessons
THE WEEK IN FINTECH v3.22 The gap in small business lending, which the easy-money policies of the Federal Reserve were supposed to fill, are well documented. It's more difficult for small businesses to get small loans from banks, in large part because it's less profitable for banks of all sizes to make small-dollar loans. A Harvard Business School report on the state of … [Read more...] about Lending Gaps and Lessons
Open Source Finance
The future of currency looks increasingly invisible—and branded. Bitcoin is going through something of an identity crisis. While much cryptofinance news over the past 18 months has focused on the fluctuating price of bitcoin (BTC) and the use of crypto-tokens to raise capital, the underlying blockchain technology was designed to account for payment transactions. The recent … [Read more...] about Open Source Finance
Treasury and Bitcoin
The U.S. Department of the Treasury issues its FinTech report as bitcoin gains institutional momentum. Given all the attention to cryptoasset trading over the past two weeks, it's a bit strange that the U.S. Department of the Treasury makes no mention of it in its long-awaited FinTech report (PDF). Yet bitcoin was designed and is used as a cryptocurrency, and Treasury and its … [Read more...] about Treasury and Bitcoin
Crypto Currents 08-13-2018
Momentum to make crypto-assets safe for institutional investors grew with two announcements over the last two weeks. First, Northern Trust, one of the more conservative financial institutions and asset managers, told Forbes on July 31 that it plans to "pave the way for cryptocurrency hedge funds" and expand its blockchain initiatives. "While Northern Trust Hedge Fund Services … [Read more...] about Crypto Currents 08-13-2018
The FinTech Tipping Point
THE WEEK IN FINTECH v3.19 The relationship between FinTech firms and incumbent financial institutions appears to be entering the next phase of their evolution. The first two items in this week's newsletter explore how FinTech has transformed finance and provide a context for strategic partnerships that can produce results. Traders in cryptoassets are working to make a … [Read more...] about The FinTech Tipping Point