Abrdn buys stake in digital asset exchange Archax
Investment manager abrdn has become the largest external shareholder in the UK’s first regulated digital securities exchange, Archax. Terms of the deal were not disclosed.
Trump fires CFPB director Chopra
President Donald Trump has fired Consumer Financial Protection Bureau director Rohit Chopra.
US Elections: Stand With Crypto forms committee to support pro-crypto candidates
Nonprofit pro-cryptocurrency group Stand With Crypto has formed a political action committee (PAC) to support candidates who are encouraging of cryptocurrency and blockchain developments in the upcoming US elections.
Sibos: Panel calls on regulators to define minimum level of fraud data sharing
Regulators must define a “minimum set of data” to be shared between banks that would still “serve the purpose” of fraud detection and prevention, said Michele Gentile, head of group correspondent banking, APAC, UniCredit, at Sibos today.
Lloyds’ customers deposit over £1 million at PayPoint stores in first month
Customers of Lloyds bank have deposited over £1 million with PayPoint’s BankLocal service within a month of the app-based cash deposit feature going live.
Citi reports growing convergence of traditional and digital assets
The move to shorter settlement cycles and increasing regulatory clarity is leading to an accelerating convergence between traditional and digital assets, reports Citi.
Two-thirds of banking sector AI research driven by five banks
JPMorgan Chase is responsible for more than a third of all banking sector AI research, according to data from benchmarking and intelligence platform Evident.
Former JPMorgan leadership team launches wealth management platform
Vestrata, a wealth management technology startup led by former executives from JPMorgan and other global financial institutions, is to launch after completing a $4 million investment round.
Bitwise launches active crypto fund
The world’s largest crypto index fund manager, US-based Bitwise, is expanding from passive to active management in an effort to attract more institutional investors.
Mintos bags €3.1 million in 14-day crowdfund
European alternative investment platform Mintos has wrapped up a €3.1 million crowdfunding campaign on Crowdcube.
BIS field study show AI use can boost productivity among programmers
A Bank for International Settlements’ field study on AI use by Ant Group programmers demontrated a clear boost in the number of lines of code produced by staff exposed to the Large Language Model.
Rydoo buys accounts payable automation specialist Semine
Expense management provider Rydoo has acquired AI-powered accounts payable automation technology provider Semine. Financial terms were not disclosed.
BNP Paribas goes deeper into the cloud with IBM
BNP Paribas has extended its partnership with IBM for a further eight years as the French bank looks to ramp up its cloud approach in support of a digital transformation programme.
Sustainable Finance Live: Speakers announced!
Sustainable Finance Live is set to take place on the 10th October at Events@No6 in London, bringing together the brightest minds in sustainable fintech to discuss new innovations in the sector.
Visa to issue sustainable plastic cards
Visa is to roll out cards made from recycled plastic to all financial institutions globally.