Banktech/Fintech

The DTCC is building out a blockchain-based platform for post-trade processing and custody; if it works, it will mean a significant rewiring of the markets.

The Depository Trust & Clearing Corporation, the mammoth clearinghouse for all Wall Street trades, is building the ability to let securities morph into digital assets, and to track them in perpetuity.

The government said it was responding to a jailbreaking risk that Anthropic says is minimal.

The same groups want the Securities and Exchange Commission to drop its breach-disclosure rule while asking Congress to keep a confidential threat-sharing law.

The Dutch payment processor has agreed to acquire artificial intelligence-powered fintech biller Orb, its second acquisition in three months in an effort to speed development.

City National Bank appointed longtime executive David Cameron as chief operating officer; JPMorganChase is selling a limited-edition Lego version of its new midtown Manhattan headquarters; Esquire Financial Holdings received regulatory approval to complete its acquisition of Signature Bank in Chicago; and more.

Visa and Mastercard are making it easier for AI agents to make autonomous payments within large language models, while fintechs such as Robinhood and Coinbase are opening their doors to those same agents to keep customers within their ecosystem. Payment experts say that puts banks on the defensive.

The bank has decided it doesn't want to be at the mercy of tech companies and the price they demand for services, and is building its own "AI factory."

Tokenization of assets is going to transform global finance, but by dragging their heels on establishing clear rules of the road, U.S. regulators could be pushing the development of key infrastructure overseas.