Note: Since this was published, the repo markets have not improved; the Fed supplied another $205 billion to the market on October 18. See James Bianco's LinkedIn post for more at: http://bit.ly/35MM8QJ The Federal Reserve has extended its recent interventions into the securities repurchase, or “repo” market, into November. It’s the first time that the Fed’s intervened in … [Read more...] about Could the Crypto Market Protect Against a New Global Recession?
FinTech Advertising On the Go in Chicago
Transit advertising for FinTech solutions has been a Chicago trend for awhile now. German Direct Bank N26 has joined in, making the rounds on Chicago transit to promote its high-speed banking service. The recently-launched Gemini Crypto Exchange is taking the train. … [Read more...] about FinTech Advertising On the Go in Chicago
New Bitcoin Offerings and Volatility Reflect Challenges and Promise For Cryptocurrency
The Intercontinental Exchange (ICE) launched its physically-settled bitcoin futures trading platform, Bakkt, on September 23. The Chicago Mercantile Exchange (CME) has been doing futures trading in bitcoin for even longer -- since 2017 -- and is now making plans to expand that platform by early next year with a bitcoin options contract. It's a market with promise, but one … [Read more...] about New Bitcoin Offerings and Volatility Reflect Challenges and Promise For Cryptocurrency
NACHA Promotes Blockchain-Backed B2B Payments Directory
B2B payments have historically caused problems in the financial services industry. Vendor onboarding, keeping current payment information, and ensuring the proper remittance are massive, time-consuming tasks that are only growing more complicated as real-time payments become a bigger factor. NACHA, through their October 1 acquisition of the Business Payments Directory … [Read more...] about NACHA Promotes Blockchain-Backed B2B Payments Directory
Fed to Build New U.S. Realtime Payments Rail
U.S. financial institutions are getting closer to payments speeds on par with what for much of the world is commonplace, as the U.S. Federal Reserve announced plans August 4 to launch its own realtime payments system. Dubbed FedNow, the service is expected to be available in 2023 or 2024, "eventually," as The Economist put it. The push for faster payments has intensified in … [Read more...] about Fed to Build New U.S. Realtime Payments Rail
Payments Marketing: Transit Temptations
Mastercard is using transit payments in Chicago and New York as a way to get consumers used to contactless payments. With volumes estimated at less than .25%, contactless payments need all the push they can get. Transit advertising in Chicago goes beyond contactless payments, however, with campaigns for Venmo's debit cards, Zelle's person-to-person payments, Marcus's banking … [Read more...] about Payments Marketing: Transit Temptations