Topic

Economics News

A collection of 307 issues

Citi: Mobile money is a "game changer" for banking

Citigroup's chief executive Jane Fraser says mobile apps and the ability for consumers to transfer millions of dollars with the click of a button will bring fundamental changes to how banking is run while regulators are forced to react to the risk of customers withdrawing their bank deposits, Bloomberg writes.

Financier calls China vulnerable to European economy

Financier Macdonald called China vulnerable to Europe's economy and U.S. consumers Lawrence Macdonald, former vice president of Lehman Brothers Financial Corporation, in a conversation with RIA Novosti called China very vulnerable to the European economy and consumers in the United States. According to McDonald, China is a country with

Florida governor proposes to ban CBDC

Florida Governor Ron DeSantis has filed a bill to ban CBDC use in his state. "This would protect Florida consumers and businesses from the unwise implementation of the 'centralized digital dollar.' Such an asset would stifle innovation and could be used by the government for surveillance," DeSantis said in

New York Community Bancorp bought a major stake in Signature Bank.

US-based New York Community Bancorp purchased almost all of Signature's deposits as well as a portion of Signature's loan portfolios for a total of $38.4 billion. The deal did not include $4 billion in deposits related to Signature Bank's digital banking business. They will continue to be managed by

U.S. to launch analogue of Russian SBP

The U.S. Federal Reserve has confirmed that in July it will launch a long-awaited instant payment system (a counterpart to Russia's SBP), which some consider an alternative to digital currencies and central bank stablcoins, writes Cointelegraph. The Instant Payments Network will make payments in seconds and support transactions between

U.S. banks are ready to work with the crypto industry

Despite the collapse of Silvergate, Signature and SVB, U.S. banks are ready to work with cryptocurrencies, reports CoinDesk. Santander, HSBC, Deutsche Bank, BankProv, Bridge Bank, Mercury, Multis and Series Financial have all said they are willing to serve the cryptosphere.

Cuba started to accept cards of the Mir payment system.

Cash withdrawal is already available in Havana In the capital of Cuba, Havana, a number of banks have started accepting cards of the Russian payment system "Mir". This is reported by TASS citing its own correspondent. According to the agency, ATMs began to display the "Mir" logo. Cash withdrawal is

DeFiance Capital raised an "eight-figure sum" of investment

Venture capital firm DeFiance Capital has raised an "eight-figure sum" of investment. That's what The Block reports. According to sources familiar with the matter, the company held the first closing of its $100 million "liquid token fund." This was facilitated by a "good mix of investors," represented by other crypto

China to allocate €200,000 to Ukraine to ensure nuclear safety

China will allocate €200 thousand for nuclear safety in Ukraine, said an official representative of the Chinese Foreign Ministry Mao Ning, Sina reports. "China's decision to donate €200 thousand to Ukraine's nuclear safety technical assistance program through the International Atomic Energy Agency (IAEA) is aimed at supporting the IAEA's efforts

U.S. transferred bitcoins confiscated from Silk Road hacker

The U.S. government transferred about 50,000 BTC (over $1 billion) seized from the Silk Road hacker to the Coinbase cryptocurrency exchange and unknown wallets. It was reported by PeckShield. Recall that Silk Road was one of the most successful "black" platforms at the beginning of bitcoin's development in