Industry Report: Bitcoin ‘Hooking Up’ With Traditional Finance
Is Canada going cashless? Are PayPal and Coinbase an item? Is IBM testing the blockchain? Take a look below to catch up on all the Bitcoin and digital currency news. Is the Finance Sector Getting Cozy With Bitcoin? COINBASE. In what’s being called a “stellar move,” Bitcoin exchange Coinbase is adding PayPal and credit card support for its users. Coinbase recently reported on its blog: “Through this integration, Coinbase users are now able to sell BTC and have their USD funds deposited to a PayPal wallet… We’ll invite more users to each service over the next few weeks, and we’ll be....
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IOSCO Chair Ashley Alder recognizes that “DeFi is a novel and fast-growing area of financial services.” As decentralized finance (DeFi) space grows, regulators are giving more effort to conducting research and providing a means to better understand the emerging industry.Today, the International Organization of Securities (IOSCO) published a report that aims to give a perspective on DeFi and highlight some areas that may be potential areas of concern to regulators. According to the report, DeFi is growing and many of its mechanisms are very similar to traditional financial markets.Total....
Ever since Bitcoin came into play as a cryptocurrency offering an alternative to traditional finance, blockchain technology has been disrupting the financial services industry through its unique capabilities and applications. The revolutionary technology is set to improve every section of the traditional finance industry, including retail banking, capital markets, and asset management. Notably, blockchain technology […]
The ATM Industry Association (ATMIA) has released a new report that aims to encourage the nascent bitcoin ATM sector to adopt standards that promote consumer protection and security. The paper is the second report issued by the non-profit industry association on the subject of bitcoin ATMs this year, following a March release that assessed how both bitcoin and bitcoin ATMs could more broadly affect the traditional ATM market. Building off the first release, the most recent report suggests that the bitcoin ATM industry needs to adopt methods of self-governance now, before its products are....
There is an enormous shift in finance toward digital solutions over the last several years, and that trend has only kicked into overdrive since 2020. The need for frictionless, decentralized solutions to the aging traditional finance system has led to the emergence of cryptocurrencies and decentralized finance. Early DeFi projects laid the groundwork and provided “proof of concept” that the industry has potential and would replace traditional finance. Still, too many early tokens came in […]
Japan’s Blockchain Study Group, consisting of four large financial and accounting firms, today published a report on how blockchain technology will affect their industry. Local bitcoin exchange bitFlyer assisted the group by building an interbank transaction prototype. Report Acknowledges Bitcoin’s Contribution. The Blockchain Study Group (BSG) formed in....