Fraud detection and prevention are among the many promises blockchain technology holds. But unlike certain other far-from-realized promises, the security of on-chain digitization is finding real use in the real world. On Tuesday (July 30) California’s Department of Motor Vehicles (DMV) digitized tens of millions...
State Street is reportedly looking at a number of options for settling payments on blockchain. The financial services and banking firm is considering creating its own stablecoin, creating its own deposit token, joining digital-cash consortium efforts, and developing settlement options through blockchain payment startup Fnality,...
For the past 15 years, blockchain has been attempting to transform the global financial system. Or, if you listen to some of the earlier adherents of the digital asset sector, attempting to replace it. However, the inherently anonymous nature of the crypto industry’s web3 technology...
State Street Corp. has reportedly cut “a handful” of jobs as it reorganizes its digital assets division, State Street Digital. Most of the division’s employees have moved to other units of the company, Bloomberg Law reported Thursday (Jan. 18). State Street Digital had a staff of...
April 15, 2019
Shadow banking now has $52 trillion in assets under its belt. FinTech firms are crowding financial services’ flanks, looking for customers who crave mobile means of managing their financial lives. Last week’s Capitol Hill hearing — and our own data on just where we will bank — helped spotlight the concerns that might keep traditional FI executives up at night.
July 20, 2018
FIs' investment in artificial intelligence (AI) and machine learning (ML) is expected to reach $57.6 billion by 2021. In the latest Digital Banking Tracker, PYMNTS tracks the latest developments driving...
September 10, 2024
Apollo Global Management and State Street are reportedly launching a private-public credit exchange traded fund. That’s according to a report Tuesday (Sept. 10) by the Financial Times (FT), which noted that this is the latest attempt by large investment firms to sell alternative assets to retail investors to fund their next stage of growth. The […]
July 17, 2024
State Street is reportedly looking at a number of options for settling payments on blockchain. The financial services and banking firm is considering creating its own stablecoin, creating its own...
January 18, 2024
State Street Corp. has reportedly cut “a handful” of jobs as it reorganizes its digital assets division, State Street Digital. Most of the division’s employees have moved to other units of...
July 19, 2023
America’s banks are under increasing pressure as their corporate and institutional clients seek greater rates on deposits. It’s a situation that is putting a strain on banks’ profit margins and...
