When discussing cryptocurrency, the Achilles’ heel for financial institutions and the banking industry is regulatory compliance. ISO 20022 is an internationally recognized standard, developed and maintained by the International Organization for Standards (ISO), for financial industry messaging in payments, securities, trader services, cards, and foreign exchange domains. The … [Read more...] about Cryptocurrency & ISO 2022 Compliance
Banking
A Focus on the Fed’s Digital Dollar Plans
The Fed’s announcement of a tentative look at the potential benefits of adopting a true digital U.S. dollar continue to have an outsize impact on fintech and the financial industry in general. Despite concerns, such a step would represent a truly seismic shift in the way the world does business, and the steps they take bear a lot of scrutiny in the months and years to … [Read more...] about A Focus on the Fed’s Digital Dollar Plans
Could a Central Bank Digital Currency be in the Cards for the U.S.?
President Biden called last week for an urgent, government-wide focus from the U.S. into the research of a potential Central Bank Digital Currency (CBDC) in an Executive Order. It’s a move that’s been a long time coming—American efforts in the space have lagged far behind some other countries, including China, which has already launched a pilot for its own digital … [Read more...] about Could a Central Bank Digital Currency be in the Cards for the U.S.?
The Future of Digital Assets: Not a Zero-Sum Game
Blockchain technology and digital assets rose to new heights in 2021; with a record $30 billion in investments, interest in this sector of FinTech has never been stronger. But what's happening with all that money? That was the subject of 1871's recent Tech Talk: Digital Assets and Cryptocurrency: A Breakout Year, with experts weighing in on where developments in digital assets … [Read more...] about The Future of Digital Assets: Not a Zero-Sum Game
Fed Releases Digital Assets Report
The Federal Reserve issued its long-awaited report on the status of its research on whether the U.S. should issue a digital currency. It isn't a story that makes for exciting headlines, but it's all good: The Fed released the report, it's designed to create discussion, and any decision will rest with Congress. American Banker headlined its report, "Fed defers to elected … [Read more...] about Fed Releases Digital Assets Report
API Technology Moves into Institutional Investments
Technology moves fast and slow. Weekly reports of developments in digital assets and cryptocurrencies this week show how fast new technologies can develop. At the same time, the news and announcements that caught my attention this week focus on good old application programming interfaces (APIs) gaining new uses to make the traditional world of institutional investing more … [Read more...] about API Technology Moves into Institutional Investments