Geoff Kates’ Post

"The integration of USDT deposits marks another significant milestone in our mission to serve the global fintech and digital asset community. This innovation positions us at the forefront of regulated financial institutions offering comprehensive stablecoin on-ramp and off-ramp services. We have also seamlessly integrated our blockchain analytics tools to pre-screen and detect transactions which may be linked to sanctions or AML activity ensuring our compliance with regulations. As a result, our clients now have greater flexibility and convenience in accepting payments and managing their funds" - Miles Paschini, FV Bank #fvbank #puertorico #usdt #tether #stablecoin https://lnkd.in/dS3Kbhjf

A British fintech has sought banking registration with New Zealand's Reserve Bank to expand offerings like savings accounts and credit options. Launched in July 2023, it has processed NZ$350 million in transactions. Currently registered as a financial service provider, it also offers cryptocurrency trading, uniquely in New Zealand. #Fintech, #Banking, #Forex, #Trading, #Revolut

https://lnkd.in/eeNqTery "Under MiCA, stablecoin issuers will be required to hold at least 60% of reserve assets in European banks." “If you have 10 billion euros under management, you have to put 6 billion euros in cash deposits. That is 60% of 10 billion euros. We know that banks can lend out 90% of their balance sheet. So of the 6 billion euros, they lend out 5.4 billion euros to people […] 600 million euros will remain in the bank balance sheet.” Very interesting article. While I understand that stablecoin issuers have a different risk profile than central banks, and safeguarding people's funds is non-negotiable, what doesn't make sense to me is this: Central Banks themselves are allowed to lend out 90% of their reserves. Why doesn’t the EU hold itself to the same standards it applies to others? #MiCa #Stablecoins #CentralBanks #FinancialRegulation #Blockchain #CryptoRegulation #DigitalAssets #RiskManagement #EURegulation #Fintech

A legal battle between the crypto industry and the Federal Deposit Insurance Corporation (FDIC) has led to the release of confidential documents revealing the U.S. banking regulator’s active role in halting crypto banking services. https://lnkd.in/d-SUkkZy #crypto #bitcoin #btc #blockchain #cryptobanking #FDIC #regulation #banking

Hey there! 🌍 Let’s chat about cross-border payments and why they can be a bit tricky in our global economy. So, the basics are simple. If two banks have a direct link, sending money is easy—Bank A sends a payment message to Bank B, and voilà, it’s done! But if they don’t know each other directly? That’s where “correspondent” banks come in. They act as middlemen between the banks, which can slow things down with all the connections involved. Thanks to better tech and network improvements, banks are getting quicker at this. Still, each payment system faces challenges—different currencies, rules, and security checks all come into play. Every system has to not only move money fast but also follow the law! And as time goes on, these systems need updates to keep up with new tech and make payments safer and easier for users. Real-time payments and blockchain tech are just a couple of changes pushing banks to enhance their systems to meet what customers want. Looking ahead, we can expect even more efficient and safer cross-border payment methods that aim to make global transactions smooth for everyone. Spread the word to help others grasp the world of global payments! 🌐💸 #GlobalPayments #CrossBorderPayments #FinTech #Banking #Blockchain #RealTimePayments #FinancialTechnology #BankingInnovation #PaymentSystems #FinastraPayments Check it out here: https://okt.to/KQzc6E

Amina Bank launches crypto payment network - Finextra: Designed to address the needs of the crypto banking world, APN helps to facilitate real-time payments to other APN members. This new service aims to ...

Just like how each stablecoin has unique characteristics based on its issuer, credit cards use dollars that are almost identical, but are different based on their network and issuing bank. Stablecoin payment flows will likely involve an orchestration service that transfers buyers' stablecoins to sellers' preferred assets, providing significant benefits in cross-border transactions thanks to lower fees and instant settlement. #crypto #web3 #stablecoin https://lnkd.in/gSg65mW7

Report on Tokenised deposits — The European Banking Authority (EBA) "Tokenisation, in the context of financial assets, refers to the process of representing rights in a digital form, using distributed ledger technology (DLT) or similar technology. Tokens can be represented directly on the DLT (‘native tokens’), or they can represent ‘off-chain’ assets (‘non-native tokens’). The tokenisation of a deposit, in the narrow sense of recording the deposit claim of a depositor against the credit institution on the DLT instead of a traditional ledger (hereinafter referred to as a ‘tokenised deposit’), does not per se alter the fundamental nature of the claim and thus its regulatory qualification as a deposit. At present, only one ‘live’ case of a tokenised deposit has been identified by the EBA in the European Economic Area (EEA), as a result of a survey to competent authorities and desk-based analysis. Other observed cases relate to tokenised forms of private money, such as electronic money tokens (EMTs)1 or other tokenised assets. Notwithstanding the limited use case to-date, there is a growing interest from credit institutions to deploy deposits on the DLT, with a commensurate increased attention from regulatory and supervisory authorities globally." Available here: https://lnkd.in/eabuimHB Disclaimer: The views and opinions expressed in this report are those of the authors and do not necessarily reflect the views or positions of Islington Consultants. Islington Consultants does not provide legal, tax or investment advice and does not endorse the authors of this report. Readers should do their own research and seek advice before taking any action. #digitalassets #crypto #cryptocurrency #tokenizedfunds #tokenization #bitcoin #ethereum #btc # eth

Do you figure what’s the next step based on this move? Who’s gaining stake? Who’s losing market? Let me know your ideas. https://lnkd.in/gmtx9hAn #ubs #banking #digital #cash #digitalasset #blockchain

🌍 Cross-Border Payment Modernization 🌍 Exciting times ahead in the world of international payments! J.P. Morgan highlights the transformative potential of new technologies like blockchain and real-time payment systems to streamline cross-border transactions. With international transfers expected to grow 5% annually until 2027, modernizing these systems is crucial for global trade and economic prosperity. 🚀💸 Morgan Report https://okt.to/xVzRtq #Fintech #CrossBorderPayments #Innovation #Finastra #FinastraPayments