The Bank of New York Mellon is to employ blockchain technology developed by Goldman Sachs to maintain a record of customers’ ownership of select Money Market Funds (MMFs), opening up the transferability of existing MMF shares.
UK-based neobank Monzo is reportedly set to resume its effort to break into the US banking sector.
New Zealand is to be the first country in the world to require the financial sector to report on climate risks.
Galaxy Digital has reached a $200 million settlement with the New York Attorney General (NYAG) over claims the crypto investing company promoted the now collapsed Luna digital asset without disclosing its interest in the token.
Five big banks in Belgium have joined the European Payments Initiative (EPI) with the intention of rolling out the Wero digital wallet and instant account-to-account (A2A) payment application to customers in the first half of next year.
LSEG’s post-trade business Swap Agent and commodities house Trafigura are to be the first in the UK to open GBP-denominated deposit accounts via JPMorgan’s blockchain business unit Kinexys.
The Interledger Foundation (ILF) is extending its efforts to promote the creation of an interoperable payments network to include stablecoins.
Citi has inked a multi-year agreement with Google Cloud that will see the US banking giant tap into the vendor’s Vertex AI platform.
Microsoft is looking to tap into the burgeoning mobile wallet arena by hosting three week-long developer and designer events at its ultra-hip Modern Jago facility in London’s Shoreditch.
HSBC has pledged not to close any more branches until at least 2026 amid politcal and regulatory pressure to maintain access to cash on UK high streets.
DBS, Franklin Templeton and Ripple have signed a Memorandum of Understanding to establish repo markets powered by tokenized collateral and stablecoins.
Standard Chartered has launched a new ESG-linked Cash Account for corporate banking clients that rewards them for meeting material environmental, social and governance related targets.
The metaverse could place new demands on payment services that may be better met by central bank digital currencies and retail faster payment systems than by crypto, according to a Bank for International Settlements report.
The Association for Financial Markets in Europe (AFME) has set out 14 recommendations to help realise the full potential of public cloud computing across the capital markets industry, as issues around legacy technology, security and regulatory concerns and standardisation slow uptake.
What is ethical risk? Ethical risk consists of the risks that could impede an organisation’s ability to live up to its ethical values and standards which impact consumer trust, reputation, and financial performance.