The global financial infrastructure—a complex network of technical systems provided by central banks, exchanges, clearing houses and securities depositaries—supports trillions of dollars of trading a year and underlies almost all […]
Ten years ago, Indians relied largely on cheques to move money around the country, a legacy of the colonial era. Now India operates the most advanced digital payments system in […]
The battle between New York state prosecutors and the operators of tether, the world’s largest ‘stablecoin’, shows no sign of dying down. In a brief filed on 4 December with […]
For the regulators in charge of the global financial market’s infrastructure, new technologies are prompting a fundamental rethink of how payments and securities trades are settled. Now the Committee for […]
Last week the general manager of the Bank for International Settlements (BIS), Agustín Carstens, made a spirited defence of central banks’ role in the global monetary system. “The monetary and […]
It’s time to level the playing field between technology firms and finance incumbents, say policymakers. Along with healthcare, transport and energy, finance is one of the most heavily regulated sectors […]
Asset manager WisdomTree has shaken up Europe’s cryptocurrency tracker market with the launch of a new bitcoin product that undercuts competitors by more than half. On December 3, WisdomTree listed […]
Contactless payments using cards and mobile devices now drive a significant share of global commerce. But security flaws in contactless technology are leaving the doors wide open to fraudsters, claim […]
Facebook’s Libra project, announced this summer, shook up politicians and regulators by showing how quickly the digital money race is accelerating. To understand what’s going on, we need to look […]
In developed financial markets, a fundamental principle of the legal regime is that a financial institution’s assets and its clients’ assets are kept separate. That way, if the institution goes […]