The European Union has taken a major step forward in its bid to regulate the crypto assets world after its executive branch issued its most extensive proposals to date for supervising the growing sector. The measures suggested within the EU’s digital finance strategy include cryptocurrencies not presently included in general regulation as well as a […]
EU Proposes First Set of Rules for Crypto Assets Read More »
The Basel Committee’s oversight body, the Group of Central Bank Governors and Heads of Supervision (GHOS), has endorsed a set of measures to provide additional operational capacity for banks and supervisors to respond to the immediate financial stability priorities resulting from the impact of the coronavirus disease (Covid-19) on the global banking system. The measures
Governors and Heads of Supervision Announce Deferral of Basel III Implementation Read More »
Will Cathcart, Facebook’s global head, has announced WhatsApp Pay. WhatsApp Pay is a payments system that is going to make it easy to make payments through WhatsApp; it will be just as easy as sending a photo or file. You just simply link your bank account to your mobile number to use the messaging application
WhatsApp Pay: Launch Set in 2019 Read More »
It’s happening – the payments industry is going through a transformational once-in-a-generation type of shift. Financial institutions have been controlling the payments industry for quite a while – until 2014, when big investors poured more than $130 billion into technologies like Blockchain and mobile payments. With the investment, the relationship between banks, credit card
The Disruption of the Payments Industry Read More »
According to a report published by Reuters, Facebook has been silently setting up a financial technology firm in Switzerland. The platform’s fintech firm is called Libra Networks, and it will solely focus on payments, investing, financing and other financial technology solutions. Details concerning the cryptocurrency platform have been released a few days ago. We will
There have been rumors that Facebook is creating its own digital coin in reaction to the $1.7 billion investment fund Telegram raised for its own cryptocurrency project. Together with Messenger, Whatsapp and Instagram, Facebook’s reach amounts to a total of 2.7 billion users. If Facebook decides to create its own digital coin and payments environment,
The Future: Facebook as the World’s Biggest Payments Provider? Read More »
Adyen has launched a new alternative service for card transactions under the Payment Service Directive (PSD2). Similar to the current process, the offering requires banks to create APIs for approved third parties in order to initiate payments on the consumer’s side. The platform’s latest service is going to launch in the UK, while there is
In order to prevent money laundering and terrorism financing, Dutch Financial Authorities have decided to plan a licensing scheme for crypto exchanges. This decision stems from a report that was published by the nation’s central bank, De Nederlandsche Bank (DNB), and the AFM which is the Dutch Authority for the Financial Markets. The report concludes
Dutch Financial Authorities are Planning to License a Crypto Scheme for Exchanges Read More »
On Monday January 14th, 2019 the Group Central Bank Governors and Heads of Superivison (GHOS) have endorsed a couple of revisions to the market risk framework and the Committee’s strategic priorities and work programme for 2019. Revisions to the market risk frameworkThe revisions apply to the design and calibration of the market risk framework. Changes
On October 17th, 2018, the global provider of secure financial messaging services (SWIFT) has published a white paper on the evolution of the European payments landscape. The paper discusses how change in wholesale and retail payments across the world is on its way and that it has set a clear path for financial market infrastructure renewal
SWIFT Releases White Paper on Transformed Payments Landscape Read More »