Opinions

SMS-based multifactor authentication is now so badly compromised that it has become a major vector for fraud. But there's a potential solution, and it's in every bank customer's pocket.

Noelle Acheson points out that crypto custody is about more than incorporating new assets into an established service; it's about reshaping how we see standard financial concepts and using the resulting innovations to rethink client relationships.

Noelle Acheson points out that central bank digital currencies are neither the threat nor the solution many seem to think. What matters is how the technology is applied.

Noelle Acheson points out that, while banks are unlikely to issue stablecoins, the related businesses they are likely to end up offering could set the stage for a transformation of their relationship with their clients.

As stablecoins gain broader adoption in the U.S., they will eat into banks' deposits. As a result, lending in the U.S. may be increasingly funded by the wholesale capital markets.

Noelle Acheson writes that new blockchains from Circle and Stripe are about more than customization and control over the features. They're about redistributing power across the payments landscape

Boards of directors have ultimate responsibility for the health and safety of their banks. The deployment of AI-enabled systems opens the door to a vast array of new risk factors that they need to recognize.

Well-regulated stablecoins will open the door to a wide range of financial activities, including 24/7 global markets for any asset class imaginable. Traditional banks should take note.

Businesses accepting payments in stablecoins on a public blockchain are making vast amounts of data available to their competitors. For the technology to really take off, a privacy-preserving solution is needed.