Blockchain

The conversation around advancing the distribution and use of digital currency gets a boost every time the banking system stubs its toe. And there have been many recent examples of financial system problems to point to.

The company, which left New York in 2015 to avoid its regulations on virtual currencies, has found a more welcoming state.

Blockchain's cross-border power eliminates the intermediary and solves the problem of rendering the traditional processing system redundant, and processes the payment on a chain with no middleman intervention, says ForumPay's Joshua Tate.

In a sharp escalation of the battle over the future of the dual banking system, the acting chief of the Office of the Comptroller of the Currency suggested that states should defer to federal authority in supervising global money transmitters.

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities execute payments more securely.

Caitlin Long, a former Morgan Stanley and Credit Suisse managing director, is starting a special-purpose depository institution that will provide payment and custody services to institutional investors and corporate treasurers.

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities execute payments more securely.

The bank will outsource future development of Quorum to the software firm.

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

A CBDC has the potential to be a real game changer for the payment industry if one condition is met: central bank digital currency has to be built as an open and shared infrastructure for the private sector to easily build on top of it, says ConsenSys' Matthieu Saint Olive.