Blockchain’s proponents have long touted it as a silver bullet for much of the traditional financial sector’s woes. As cryptocurrency inches closer to the mainstream, those same proponents are set on building the new payment networks and global value-transfer ecosystems they view as a replacement,...
Chainalysis’ CEO is warning against critical security weaknesses in the decentralized (DeFi) finance space. In an interview with the Financial Times (FT) published Tuesday (Nov. 4), Jonathan Levin said the rapid growth of these cryptocurrency platforms, operating on blockchains and without intermediaries like banks, had left...
As payment innovations scale, settlement and infrastructure have traditionally reared their heads as the strategic chokepoints. In the early days of the digital payments revolution, for example, industry titans like Mastercard, Visa and PayPal built their empires not just by issuing cards or enabling online...
JPMorgan Chase is reportedly deepening its involvement in the world of digital tokens. Officials at the country’s largest bank told the Wall Street Journal (WSJ) Thursday (Oct. 30) that JPMorgan had tokenized a private-equity fund on its blockchain platform for the wealthy clients served by...
IBM plans to launch a platform that will enable financial institutions, governments and corporations to manage digital assets across various blockchains while meeting their compliance obligations. The IBM Digital Asset Haven is being developed in collaboration with Dfns, a digital wallet infrastructure provider that has...
Forget stablecoins. In the alphabet soup of digital assets, another term that has begun surfacing is tokenized deposits. Federal Reserve Governor Michael Barr on Thursday (Oct. 16) called tokenized deposits “more robust” than stablecoins; ex-Consumer Financial Protection Bureau Director Rohit Chopra said the same in...
On-chain lending has accelerated, with stablecoins becoming the infrastructure powering “a new lending space,” according to Visa. Stablecoin-denominated loans totaled $670 billion over the last five years, and $51.7 billion in the month of August alone, Visa said in a report released Thursday (Oct. 16)...
One would presume that Intercontinental Exchange (ICE), the owner and operator of the New York Stock Exchange (NYSE), would have its finger on the pulse of American financial markets. Literally. And on Tuesday (Oct. 7), ICE gave the rest of the world a glimpse of...
Bank of New York Mellon is reportedly exploring tokenized deposits as a way to enable its clients to make payments using blockchain. The bank is considering this technology as it modernizes its infrastructure, including that of its treasury services business that handles $2.5 trillion worth...