Are Stablecoins Weakening Emerging-Market Currencies?
The lion’s share of cross-border stablecoin transactions now flow from advanced economies into emerging nations—a shift that may be undermining those nations’ local currencies. New data from the IMF warns that the growing embrace of stablecoins comes with under-acknowledged risks. According to the IMF, stablecoins have revolutionized cross-border payments by reducing friction and making transactions […]
UK to Launch Fast-Track Licensing for Fintechs
Fintechs play a pivotal role in the financial services landscape, yet many existing regulatory frameworks were not designed with them in mind. For this reason, the UK is set to launch a licensing program aimed at reducing the red tape that has hindered many fintechs. Under this program, financial services companies will be able to […]
Open Banking Has Begun to Intrude on Banks’ Customer Relationships
The humble demand deposit account has been the cornerstone of the financial services system for decades. However, banking customers who manage all their finances through checking and savings accounts at a single financial institution are in short supply. At the same time, more fintech companies have transformed from niche, one-off services to full-service financial ecosystems. […]