As U.S. and international financial regulators debate how to regulate cryptocurrencies, financial institutions make business moves toward crypto legitimation. State Street, the Boston-based custodian bank and second oldest in the U.S., announced the formation of a new digital asset unit, with a bitcoin notice on its home page. "We are striving to totally re-imagine and … [Read more...] about Traditional Finance Moves Closer to Cryptofinance
Blockchain
Navigating a Path to Digital Assets
It’s been a theme throughout the year: digital assets like Bitcoin are breaking into mainstream financial services. The expectation is that technology can bring its services to the consumer on a pre-dawn Sunday when they want to make an impulse buy – and that’s exactly what digital assets enable. They let financial institutions put a disposable asset in the hands of a … [Read more...] about Navigating a Path to Digital Assets
Banks Increasingly Need Crypto Literacy
As bitcoin prices have exploded upward throughout the beginning of this year, many traditional financial institutions have been forced to one conclusion: cryptocurrency is here to stay. Even if your institution doesn’t plan to deal directly in the space, the need to be knowledgeable about it is becoming an increasing imperative. But it’s a complicated subject – a crowded … [Read more...] about Banks Increasingly Need Crypto Literacy
Crypto’s Regulatory Imperative
For many FinTechs, particularly those operating in cutting-edge spaces like blockchain and cryptocurrency, regulation has often been seen as a dirty word; something that can only shackle innovation. But lack of regulation in the blockchain and crypto space has often served as a greater restriction than most actual laws can be, creating an air of uncertainty for companies … [Read more...] about Crypto’s Regulatory Imperative
Banking on FinTech
U.S. banks made more than 65 strategic bets in FinTech in 2020. Capital markets investments led the way. “Despite the economic uncertainty surrounding the Covid-19 pandemic, U.S. banks are future-proofing by actively investing in FinTech,” research firm CBInsights concludes in a report released last week. Deals in the capital markets category more than doubled those in the … [Read more...] about Banking on FinTech
New Charter Law Could Make Illinois a Crypto Leader
Illinois FinTechs may soon have a new opportunity to provide safekeeping of digital assets such as cryptocurrencies, in a move that would make the state only the second in the nation to offer this authority to applying companies. A new charter for these “special purpose trust” companies got one step closer to passage through the state legislature Tuesday, with the Illinois … [Read more...] about New Charter Law Could Make Illinois a Crypto Leader