Friday March 23, 2018 –
Here are the new and noteworthy stories we have been following this week.
Central banks are right to consider the merits of digital cash
The case for the issuance of digital cash and the opening of digital checking accounts at central banks.
Affirm Introduces In-Store Capabilities
Affirm introduces in-store POS sales financing and also an arrangement with Apple Pay.
Alibaba doubles Lazada investment to $4 billion in aggressive Southeast Asian expansion
Alibaba is investing an addition $2 billion in Southeast Asian e-commerce firm Lazada Group.
Regulators to hash out global fintech sandbox
The UK’s Financial Conduct Authority says that it will start working with partners in Europe, the Far East and the US on a blueprint for a global regulatory fintech sandbox.
Bitcoin Spikes After G-20 Expresses No Desire for Crypto Oversight
The Group of 20 nations steered clear of calling for a coordinated clampdown on the cryptocurrency market and set a July deadline for cryptocurrency steps without being more specific on what that meant.
OakNorth moves into profit
UK challenger bank OakNorth is reporting £10.6 million in profit in its second year of operation, moving into the black from a £2.4 million loss in 2016.
China Allows Foreigners to Enter $27 Trillion Payments Market
China will permit foreign companies to access its $27 trillion payments market, further opening up the world’s second-largest economy.
UK launches task force to scrutinize cryptocurrency risks and benefits
The cryptocurrency task force is part of a wider fintech, or financial technology, strategy laid out by Westminster.
Biggest Three Banks Gobble Up $2.4 Trillion in New Deposits Since Crisis
The three largest U.S. banks by assets have added more than $2.4 trillion in domestic deposits over the past 10 years, a 180% increase, according to a Wall Street Journal analysis of regulatory data.
Arizona Becomes First State in U.S. to Offer Fintech Regulatory Sandbox
Arizona’s Governor Doug Ducey signed House Bill 2434 into law making Arizona the first state in the nation to enact a groundbreaking regulatory fintech “sandbox.”