That is a surprising action; I am not familiar with any similar refusal to limit card usage, other than for illegal or immoral purposes. Would JPM like to publish what products or services they don't want their cards used for - or may plan to refuse to service - on the basis they have a competing service they wish to protect?
18 Jul 2024 09:34 Read comment
Good to hear such an optimistic forecast, but the question is 'how long will it take'? CBDCs should be a key element, but central banks are not noted for acting first or fast!
It may be the market maker role in each country has to be commercial, at least in the beginning; in the same way as we are proposing for international remittances.
04 Nov 2021 10:41 Read comment
When you look at the connected link (regarding a potential $850 million loss being financed out of Tether's deposits) one wonders how fines of these tiny amounts act as other than encouragement for these companies (and others) to just use them as a minor cost of business.
18 Oct 2021 09:25 Read comment
This unfortunate occurrence for Coinbase indicates one of two things; firstly, the US needs to finalize its overall approach to cryptos and who is to be the single authority to oversee all aspects. Secondly, if it is too limiting (and less than clear) the overall market risks moving offshore, even more than now.
It's hard to understand how it took so long for the SEC to react on this issue of interest earning - and how aggressively it was managed. It is not as though it is a new issue within the overall crypto market.
21 Sep 2021 10:47 Read comment
The threat of Libra (Diem now) from over two years ago was expected to ignite other commercial solutions, apart from the governmental opposition. Whether Amazon's move on this - and the quoted Amazon TV linked to Alexa - are part of the response, possibly generated by the change of management - we will see. But it is good if it means lower costs and better service. When will Google and Apple join in the payments battle - and how much will it be across the globe, rather than US-centric?
13 Sep 2021 10:33 Read comment
It is good to hear that David Marcus is perhaps ready to look at using fiat currencies, whether as the underlying format for Diem, or through international clearing.
I don't think there is any reluctance to use Facebook's network structure - as long as the local currences are the settlement basis. In fact, that can be ideal as its connectivity to its users can solve some 'last mile' issues, while protecting the governments' money supply requirements.
And it can be done at a fraction of today's costs!
18 Aug 2021 16:56 Read comment
All central banks can talk about CBDCs, but the timeframe for development is the critical factor. USA, UK and EU will be multiple years, minimum five and more like ten, before their CBs are ready, so somewhat irrelevant in a fast-moving market.
Developing countries will hopefully be far quicker, if they are to keep their fiat currencies as the main money supply in their countries. There we may be talking about a few months if they are to succeed.
14 May 2021 09:52 Read comment
It is interesting to see if this change in regulatory base reflects a different target market for Diem/ Facebook towards USA as against a worldwide approach.
13 May 2021 15:25 Read comment
It could be an interesting way of assisting LMIC central banks to test their domestic CBDCs - which is where the linkage and technology could be of value.
It might be best if Ripple set it up as a separate entity though, to avoid any interaction with current law suits? if so, it could be a good method for such CBs to counter any large currency stablecoins, particularly Diem.
04 Mar 2021 15:56 Read comment
A Brexit dividend? Where did that idea come from?
Maybe what did cost 45 pounds will now cost 100 pounds after Brexit? that I can believe, but calling it a dividend is harder to understand!!
02 Mar 2021 12:14 Read comment
Libra weighting of currencies for remittances
Jonathan RosenneChairman at QSM Programming Ltd.
Whitman KnappChairman at GTBInsights LLC
Viet Anh Phan TonChairman at Pontus Systems Technology Pte Ltd
Andersen ChengChairman at Post Quantum
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