Search Results for "banking sector"
Fed Chair Powell Asserts Money Supply is for Central Banks not Private Sector
Federal Reserve Chairman Jerome Powell asserted that the private sector has no place in money issuance and by extension the development of a Central Bank Digital Currency (CBDC).
Banking on Blockchain: ICBC Releases First-Ever White Paper on Blockchain for the Financial Sector
One of China's major banks, the Industrial and Commercial Bank of China (ICBC) has released its white paper on blockchain-based applications in the financial sector. The document is the first white paper related to blockchain technology in the financial industry. The paper also highlights the present challenges faced by the banking sector.
US Congress Encouraged to Regulate Crypto Sector Under Bank Secrecy Act
A Washington DC-based strategic advisory firm, the Financial Integrity Network (FIN), pushed the United States Congress to regulate firms in the cryptocurrency sector under the Bank Secrecy Act (BSA).
Thailand to Revive the Tourism Sector by Attracting Wealthy Crypto Holders
The Tourism Authority of Thailand (TAT) is going an extra mile of targeting crypto holders, especially those from Japan as it seeks to revamp the nation’s tourism sector in the post-pandemic era
A New Era of Smart Banking: Virtual Bank by Standard Chartered Building Digitally-Born Services
During Hong Kong Fintech Week 2019, Blockchain.News spoke with Deniz Güven, the CEO of the Virtual Bank by Standard Chartered, to understand the current developments and the new technology behind it. The Virtual Bank by Standard Chartered was one of the first granted a virtual banking license on March 27, 2019, from the HKMA along with two other licensees, Livi VB Limited and ZhongAn Virtual Finance Limited.
Central Banks Could Monopolize Commercial Banking Sector via CBDC, Says Federal Reserve
A new working paper from the Federal Reserve Bank of Philadelphia indicates that the development of a central bank digital currency (CBDC) may create a fundamental shift in the way banks operate.
Open Banking & Banking Digital Transformation Congress will be held in August in Shanghai
Open Banking&Banking Digital Transformation Congress 2020 will be held on September 24-25 in Shanghai with a focus on digital transformation and open ecosystem construction of large state-owned banks, joint-stock banks, urban commercial bank, and foreign bank, etc. The congress will mainly discuss how iABCD empower retail, micro and corporate finance from perspectives of policy transmission, ecological construction, cultural innovation, business model innovation, product innovation, risk management, marketing, and the user experience, etc.
Beyond Banking: DBS Bank’s Digital Transformation into Smarter ‘Phygital’ Banking Services
In 2019, despite facing an increasingly challenging and uncertain environment, especially the second half of last year, DBS achieved a record performance and successfully launched DBS’ First Fully Virtual Wealth Management Account Opening Solution.
South Korea Intensifies Blockchain in Banking but Rules Out Digital Fiat Currency
Wide application of blockchain technology is expected to affect people’s lives, business, education, governance, and other sectors. That is the reason, many countries explore and even deploy the huge potential of this technology. But the latest trend of the technology seems to have taken a new twist in South Korea. Now let’s find out why South Korea continues adopting blockchain in banking but rejects rolling out digital fiat currency.
Why is Blockchain Technology Revolutionizing the Banking and Finance Market?
As technology continues to evolve year after year, it becomes glaring that it is gradually sweeping every productive sector in the world, more importantly, finance and banking. This is so because the sector is about the most sensitive in every economy. It’s got to be, right? Money is important and needed by everyone – one way or another.
UK Fintech Firm Mode Launches Bitcoin Banking App Enhancing Mass Consumer Accessibility
London-based fintech company Mode has announced that it has unveiled its Bitcoin banking app to advance user experience.
"Bitcoin Is Risky," Says BIS Chief as Crypto and Unconventional Stocks like GameStop Gain Support
The Bank for International Settlements remains skeptical of Bitcoin, echoing the sentiments of many traditional banking institutions.