Having premised so much of financial markets regulation on the presumption of intermediation, it may be useful to consider the need for new rules and formal amendments aimed at achieving the longstanding regulatory goals of promoting investor protection, facilitating capital formation by establishing fair and orderly markets, and mitigating risks that disrupt and destabilize markets.
Paxos is now making use of for a everlasting SEC licence to compete with the DTCC. It’s unclear whether or not the SEC will agree, or if Paxos might even scale as much as snip on the heels of the DTCC behemoth, which dealt with $2,150tn price of trades final yr. As Emmanuel Aidoo, digital markets head at Credit score Suisse, observes tactfully: “Innovation in blockchain know-how is [still] incremental.”
Even so, buyers ought to take word. For one, the deal is a reminder that there’s extra to blockchain than the cryptocurrencies corresponding to bitcoin that additionally use the know-how. Whereas apparent to crypto insiders, this level must be proclaimed loudly given how bitcoin grabs a lot public and political consideration.
Over the last decade, the transaction systems have drastically improved. We have come very far from the times of cash payments. Nowadays, with the advancement in internet technology, it is natural to pay using mobile phone apps, online banking methods, cards, and many more methods that are both highly safe and convenient. Whether you are at a nook-shop paying for something small or at a premium mall paying for expensive jewelry, the e-methods of payment always come in handy. In addition to providing you with convenience, the online payment options also come with a spate of offers in the form of cash backs, loyalty points, and much more. The development of online payments is one thing – and side by side innovations in the currency systems is the other thing.
PayPal is riding high.
The company posted blowout fourth quarter 2020 financial results last month thanks to spectacular growth in its core app and Venmo unit, and from the success of its new buy-now-pay-later service. The firm is expecting an even bigger 2021 as the pandemic leads more consumers to embrace e-commerce and to turn away from cash altogether.
None of this means that CEO Dan Schulman is resting easy, however.
In an exclusive interview with Decrypt, Schulman explained how business unit dedicated to cryptocurrency, first announced last month.is racing to adopt the next era of financial technology, including by launching a