For the past 15 years, blockchain has been attempting to transform the global financial system. Or, if you listen to some of the earlier adherents of the digital asset sector, attempting to replace it. However, the inherently anonymous nature of the crypto industry’s web3 technology...
State Street Corp. has reportedly cut “a handful” of jobs as it reorganizes its digital assets division, State Street Digital. Most of the division’s employees have moved to other units of the company, Bloomberg Law reported Thursday (Jan. 18). State Street Digital had a staff of...
America’s banks are under increasing pressure as their corporate and institutional clients seek greater rates on deposits. It’s a situation that is putting a strain on banks’ profit margins and a sign that lenders will have a tougher time generating revenue as monetary policies tighten,...
Today’s crypto news includes the end of a partnership and reduced access to an exchange. Global custody bank State Street and crypto custody firm Copper have ended their licensing agreement, CoinDesk reported Thursday (March 16). The two companies mutually decided to do so and will...
April 15, 2019
Shadow banking now has $52 trillion in assets under its belt. FinTech firms are crowding financial services’ flanks, looking for customers who crave mobile means of managing their financial lives. Last week’s Capitol Hill hearing — and our own data on just where we will bank — helped spotlight the concerns that might keep traditional FI executives up at night.
July 20, 2018
FIs' investment in artificial intelligence (AI) and machine learning (ML) is expected to reach $57.6 billion by 2021. In the latest Digital Banking Tracker, PYMNTS tracks the latest developments driving...
July 17, 2024
State Street is reportedly looking at a number of options for settling payments on blockchain. The financial services and banking firm is considering creating its own stablecoin, creating its own deposit token, joining digital-cash consortium efforts, and developing settlement options through blockchain payment startup Fnality, in which it has an investment, Bloomberg reported Wednesday (July […]
January 18, 2024
State Street Corp. has reportedly cut “a handful” of jobs as it reorganizes its digital assets division, State Street Digital. Most of the division’s employees have moved to other units of...
July 19, 2023
America’s banks are under increasing pressure as their corporate and institutional clients seek greater rates on deposits. It’s a situation that is putting a strain on banks’ profit margins and...
March 16, 2023
Today’s crypto news includes the end of a partnership and reduced access to an exchange. Global custody bank State Street and crypto custody firm Copper have ended their licensing agreement,...
