Friday July 6, 2018 –
Here are the new and noteworthy stories we have been following this week.
Here’s Some Cryptocurrency. Now Please Use It
The cryptocurrency industry is having a hard time persuading people to use it.
https://www.nytimes.com/2018/07/01/technology/cryptocurrency-ripple.html
Digital bank Monzo’s losses more than quadruple
Monzo sees its losses more than quadruple in its first year with a full banking licence.
https://www.ftadviser.com/investments/2018/07/02/digital-bank-monzo-s-losses-more-than-quadruple/
Personal Loans Surge to a Record High
Personal loans are experiencing strong growth – in part fueled by fintech and online lenders.
Bermuda to create new class of banks to encourage fintech
Bermuda looking to create a new class of bank to cater to local fintech and blockchain companies.
https://www.finextra.com/newsarticle/32339/bermuda-to-create-new-class-of-banks-to-encourage-fintech
PayPal sells its consumer credit portfolio to Synchrony for $7 billion
PayPal exits lending business by selling portfolio to Synchrony.
Mastercard, Visa Dealt Setback in U.K. Retailer Fees Suit
A British appeals court ruled in favor of retailers that the card networks fees are anti-competitive.
HSBC identifies Canada as a priority market and plans to expand retail banking.
Santander iGTB Payments Hub Implementation Sets Standard in Europe, Accelerates Digital Evolution in Latin America
Santander implements iGTB payments hub to improve payments functionality for corporate clients.
Payments processor Square Inc. withdraws banking license application: statement
Square withdraws its banking license application but indicates it will refile at a later date.
‘A new era for capital markets’: The Swiss stock exchange is launching its own cryptocurrency exchange
SIX is launching a cryptocurrency trading exchange.
Cash Flow or Cash Stash? How Money Moves Around
A lot of cash is hoarded, particularly outside the US.
https://www.wsj.com/articles/cash-flow-or-cash-stash-how-money-moves-around-1530882001
