Banks Borrow Unsecured Cash at Record Clip While Deposits Flee
MarketsDeposits at U.S. lenders fell in two consecutive quarters last year for the first time in over a decade Source link
A digital currency is likely to be needed, says U.K. Treasury and Bank of England
The U.K. government said Monday that a digital currency is likely needed, as countries around the world examine the changing nature of payments. A statement issued by both the U.K. Treasury and the Bank of England said they were seeking comments, though they said no decision has yet to be taken. The consultation will run […]
The Importance of Open Banking for Fintechs
Open banking is a notion that refers to the standardization and secure opening up of financial services data to third-party suppliers using APIs. It is a crucial idea since it fosters financial innovation, boosts competition, and enhances the ecosystem of financial services as a whole. First off, open banking creates new opportunities for financial innovation […]
Koch brothers–founded group is pushing Republicans to turn the page on Donald Trump
The late David Koch, who died in 2019, is shown during a speech by then–Fed Chairman Ben Bernanke at the Economic Club of New York seven years earlier. Bloomberg WASHINGTON — A group funded by billionaire Charles Koch will work to support a Republican presidential nominee other than Donald Trump, concluding in a strategy memo that “we need […]
Households Burn Through What’s Left of Their Pandemic Savings
The cushion of savings many built up during the pandemic is thinning out. In some households, it is already gone.Americans have spent down about 35% of the extra savings they accumulated during the pandemic as of mid-January, according to an estimate from Goldman Sachs. By the end of the year, the company forecasts that they […]
The Importance of Open Banking for Fintechs
Open banking is a notion that refers to the standardization and secure opening up of financial services data to third-party suppliers using APIs. It is a crucial idea since it fosters financial innovation, boosts competition, and enhances the ecosystem of financial services as a whole. First off, open banking creates new opportunities for financial innovation […]
Gold giant Newmont’s $16.9 billion bid for Australia’s Newcrest clouded by deal doubts
Melbourne Reuters — Top gold producer Newmont (NEM) Corp said it had made a $16.9 billion offer for Australian peer Newcrest (NCMGF) Mining to build a global gold behemoth, although investors and analysts said it undervalued the target amid a leadership change. Newcrest is seeking a new boss, with previous chief executive Sandeep Biswas having […]
Banks Borrow Unsecured Cash at Record Clip While Deposits Flee
MarketsDeposits at U.S. lenders fell in two consecutive quarters last year for the first time in over a decade Source link
Why NFTs saw $946 million in trading volume in January – the highest since June 2022
Non-fungible tokens registered $946 million in trading volume in January 2023, up 38% from December, and the highest on record since June 2022, according to an updated Feb. 2 report by DappRadar, which tracks and analyzes the activity of NFT marketplaces. Non-fungible tokens, which provide proof of ownership of a digital asset like online artwork, […]
Understanding the Embedded Finance Landscape
Banking and payments infrastructure designed for embedded finance might be taking the center stage on the payment landscape sooner than you think. With massive growth projections, as new providers and distributors emerge and many still ponder on how they can play a part in embedded finance, some are already solidifying their presence whether in terms […]