First National Bank and Trust in Newtown, Pa., has given its president the additional title of chief executive.
Daniel Schaffer became the $817 million-asset bank's CEO on Jan. 15. He will remain president and senior lending officer, the bank said Friday.
Schaffer, who joined the bank as a branch manager in 1999, succeeded John Parry, who will remain the bank's chairman.
"This is the next logical step in what has been a seamless transfer of authority," Parry
The first U.S. bank to offer an exchange-traded product tied to Bitcoin saw $34 million in trading on the first day.
Oil rights can be a surprisingly illiquid asset. A fintech called Frontlands is hoping to change that by offering a credit card for the owners of oil wells and other natural resources.
The fintech rolled out Intelligent Money Movement, a treasury service that combines payments, liquidity management and disbursements as it looks to capitalize on its multiple banking licenses.
Most banks are likely not large enough to not support stablecoins and tokenized deposits on their own, creating a new way for legacy IT firms to compete with fintechs.
It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices group say.
The payments processing firm recently filed for Chapter 7 bankruptcy with a nearly $3 million disputed charge owed to a subsidiary of Global Payments.
