Financial Innovation – Eq Muscle Release Tue, 20 Sep 2022 10:11:59 +0000 en-US hourly 1 Financial Innovation – Eq Muscle Release 32 32 Werner Hoyer on REPower EU, climate adaptation, innovation in clean technologies, etc. by Werner Hoyer Tue, 20 Sep 2022 09:40:00 +0000

This week in Say More, PS speak with Werner HoyerPresident of the European Investment Bank.

Project union: In April, Josep Borrell and you argued that the war in Ukraine should accelerate progress on decarbonization, which is now a “strategic imperative”. But war also complicates decarbonization efforts. The European Commission’s action plan to end Russian energy dependence, REPowerEU, includes billions of euros in investments to import liquefied natural gas (LNG) and pipeline. And critics warn that a nascent wave of fossil fuel infrastructure projects could have a foreclosure effect. What can be done to prevent short-term adoption of alternative fossil fuel sources from turning into long-term addiction?

Werner Hoyer: I think we risk confusing two different issues here. Yes, this horrific war and the sudden reduction in Russian gas supplies means that emergency measures are needed, to ensure that our lights don’t go out, that our homes stay warm in the winter and that we avoid an economic crisis. New infrastructure projects to diversify Europe’s gas supply are inevitable.

But if such projects will be necessary, they will only be a palliative. We must not lose sight of the situation as a whole: our dependence on fossil fuels, including gas, is the cause of our misfortunes, and perpetuating it is not a solution. This is why REPowerEU, which you mention, plans some 200 billion euros ($201 billion) of additional investments, mainly in renewable energies, energy efficiency and electricity networks. In comparison, he predicts that only €10 billion of investment in additional gas infrastructure will be needed to fully compensate for the loss of Russian gas imports. As you can see, the difference is a matter of orders of magnitude.

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Launch of the Student Innovation and Startup Index Sun, 18 Sep 2022 05:04:25 +0000 ]]>


Cash: Instant Payments, Stablecoins top the list Fri, 16 Sep 2022 16:19:37 +0000

After six months of work, the US Treasury Department has released a trio of reports on cryptocurrency policy, and instant payments are the order of the day.

In the first of these, “The Future of Money and Payments”, the government examined both the current state of payments and recent innovations, including real-time payment tools as the future Federal Reserve’s FedNow system and the Clearing House’s RTP network, as well as the potential innovations that cryptocurrency stablecoins could bring.

He also discussed the current international movement towards the creation of central bank digital currencies (CBDCs), taking a firm stance that amounts to “We’ll think about it”.

Although the report began by noting that “the current U.S. monetary and payments system has substantial strengths [having] backed by over a century of American economic and financial leadership” and is “capable of processing an enormous volume of transactions efficiently and reliably” while users “benefit from the protection of privacy”, he points out several shortcomings .

Specifically, these are legacy payment systems that “can be slow, difficult to adapt, and difficult to access for some consumers or businesses.” And, especially given a large underserved population, there is plenty of room to improve financial inclusion.

Instant payments

Instant payments systems like FedNow and the RTP network have several advantages, the report says, including preserving the current system while offering more efficient tools, as well as potentially improving inclusiveness.

He offered several recommendations on how to make it more effective by accelerating its adoption.

First, he suggested expanding “the range of institutions eligible to participate [and] the number of institutions that choose to participate,” noting that only depository institutions insured by the Federal Deposit Insurance Corporation are currently eligible to participate in RTP, while FedNow will be available to all depository intuitions, as well as banks companies operating in the United States – although it does not handle cross-border payments.

However, expanding the range of eligible financial institutions (FIs), as some foreign jurisdictions have done, could increase speed, efficiency and inclusiveness.

Stable Coins

The second is a cryptocurrency innovation, dollar-pegged stablecoins, which “aspire to be a new type of currency backed by new payment technology” but pose greater risks than existing instant payment systems. or incoming, as well as potential system impacts that the Treasury Department said were difficult to predict.

Besides their growing use – or at least the expected growing use – in traditional payments outside of the crypto commerce sphere, there are anti-money laundering (AML) and anti-funding issues. of terrorism (CFT), especially among global stablecoins.

Then there are the “algorithmic” stablecoins that aren’t backed by stable assets like cash or treasuries that have lost their peg to the dollar, most notably the run that led to the collapse of 48 billion dollars from the Terra/LUNA stablecoin ecosystem in May.

“Poorly designed or insufficiently regulated or supervised stablecoin arrangements – including issuers and custodial wallets – can introduce or amplify risks to the financial system, consumers and investors, and illicit finance,” the report notes. .

See also: More Stablecoin Collapses Fuel Credibility Issue

There is a broad consensus in Congress that only stablecoins that are 100% backed by cash and highly liquid reserves should be allowed.

However, the report did not include anything about stablecoins in the recommendations section.


On the instant payments front, the report did not suggest anything specific other than to say that the results of real-time payment systems in other countries have been encouraging and that the government should support their expansion and deployment.

Generally speaking, the Treasury Department wants a clear regulatory framework that would support innovation.

First, he called for a greater focus on financial inclusion for the unbanked and underbanked, on expanding consumer access and use of instant payments, and on the functioning of systems across borders.

Second, the government should encourage the interoperability of these systems and possibly create “public-private partnerships to explore opportunities for access to low-tech instant payment systems.” He also suggested that government agencies support the use of instant payment systems in a wide range of areas.

Third, the report states that government policy should be to encourage the “participation of non-bank payment companies”, but with a strong regulatory and supervisory regime, consumer protection and AML/CFT oversight.

One potential area of ​​conflict with Congress is the report’s recommendation for federal oversight of these nonbank payment companies, stating that “State oversight of nonbank payment providers varies widely and is generally not designed to address travel risk, payment risk or other operational risk in a consistent and comprehensive manner. »

He touted this as providing “a common floor for minimum financial resource requirements and other standards,” but nonetheless could face the kind of backlash that the department’s recommendation that only FDIC-insured institutions be authorized to issue stablecoins.

Read also: An introduction to US stablecoin regulations

Finally, he called for more emphasis on cross-border payments, but again, largely with generalities.

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New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

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IFSB Innovation Forum for Islamic Financial Services Industry Market Players Kicks Off in Doha Wed, 14 Sep 2022 18:22:00 +0000

Doha: The fourth IFSB Innovation Forum for market players in the Islamic Financial Services (IFSI) industry kicked off on Wednesday under the auspices of the Qatar Central Bank (QCB) in collaboration with the Council of Islamic Financial Services (IFSB) based in Malaysia and the Qatar Financial Center (QFC).

Under the theme “Innovations for Sustainability and Regulation of Financial Services”, the 4th IFSB Innovation Forum brought together many specialists and people interested in international Islamic and sustainable finance.

In a speech at the inauguration of the forum, HE the Governor of the Central Bank of Qatar, Sheikh Bandar bin Mohammed bin Saud Al-Thani, said that the Islamic banking assets of four Islamic banks in the State of Qatar amounted to $154 billion in June 2022, representing 28% of banking assets.

His Excellency added that the latest IFSB report ranked the State of Qatar among the top five countries in the Islamic finance industry thanks to its strong regulatory and supervisory policies that adhere to relevant international standards.

The report is also ranked as systemically important among the 15 countries where Islamic banking has achieved more than 15 percent market share, His Excellency noted, attributing the results to four decades’ experience of the state of Qatar in Islamic banking.

The country’s banking sector continues to play an important role in driving economic growth and meeting infrastructure financing requirements for the FIFA World Cup Qatar 2022, to be held on November 20, His Excellency said, noting that QCB’s dual banking system ensures a level playing field for Islamic and conventional banks in Qatar, and aims to develop a regulatory framework that promotes growth and innovation in the financial sector, and is committed to playing a leadership role leader in the development of the financial technology ecosystem in Qatar.

In this regard, His Excellency noted that digital transformation and climate change have recently attracted the attention of the real economy, the financial sector and the private sector, transforming the role of banks and central banks in the services sector. financiers into a role that empowers the market. , digital acceleration and innovation. His Excellency added that both areas fall under the Qatar National Vision 2030, highlighting the digital transformation strategies launched by national banks that demonstrate the importance of financial digitization as the future of the banking sector.

His Excellency highlighted QCB’s multiple initiatives ahead of the upcoming FIFA World Cup to enable secure, fast and affordable digital payments, including its first license in the country to provide digital payment services by launching Google Pay last month. in Qatar. On the regulatory front, the QCB has issued several guidelines that regulate and license various payment activities in the country, His Excellency pointed out.

His Excellency added that the growing importance of environmental sustainability and social responsibility makes more urgent the need to rebuild the world with sustainable and environmentally friendly investments. Qatari banks have already embarked on the transformation to green banking by issuing green bonds, setting up green loans and increasingly standardized ESG disclosures.

His Excellency further pointed out that the global financial system has witnessed unprecedented developments over the past two decades, intensified by the continued challenge faced by financial regulators to deal with a wide range of issues ranging from unconventional monetary policies following the unprecedented COVID-19 global financial crisis. pandemic scenarios, His Excellency said, calling for collective action to achieve new benefits amid the challenges of digital transformation and green finance.

IFSB Secretary General Dr. Bello Lawal Danbatta said global Islamic financial services industry assets grew by 11.3% year-on-year with an estimated total value of 3 .1 billion in 2021, explaining that the progress made by the Islamic financial services industry, despite the challenges imposed by the COVID-19 pandemic, is a testament to the growing interest in Islamic finance products and services among broader financial sector stakeholders, including non-Muslim majority countries.

He clarified that many digital innovations in the Islamic financial services industry, launched during the pandemic, have not only helped Islamic financial services institutions to overcome the challenges of the pandemic, but also offered Islamic financial services institutions opportunities to popularize and expand the reach of Islamic financial services institutions. finance beyond traditional boundaries, with an increased interest in the possibilities of Islamic finance in developing sustainability-related products and services that are well suited to the Sustainable Development Goals and beyond.

Dr Danbatta added that an increase in demand for sustainability-related products and services has recently taken place, as environmental, social and governance factors increasingly attract the attention of global investors due to the protests. of climate change and the resulting risks for financing and management. investments made by financial institutions.

In this regard, he said that in 2021, the issuance of sustainability-related sukuk amounted to $5.3 billion, of which $1.6 billion or 29% green sukuk, and this increased interest has resulted in the large-scale issuance of sustainable and environmental sukuk, social and institutional governance sukuk from sovereign and private issuers.

He predicted that this trend will continue, given the strong commitment of global leaders and industry players to sustainability and climate-related initiatives, in addition to growing investor appetite for sustainable investments, and the need to finance green transformation and sustainability projects is likely to lead to increased issuance of sustainability-related sukuk in the near future; stating that Islamic FinTechs have the potential to significantly contribute to addressing sustainability factors and environmental, social and institutional governance through their innovative financing and investment ideas.

He reiterated that examples of this include charity, zakat and waqf funds collected through crowdfunding platforms to be used for activities eligible for climate finance, financial transfers through Islamic fintech that help families get clean energy Low cost.

The IFSB Secretary General explained that the Innovation Forum is an annual event organized by the IFSB which aims to develop creative thinking and dialogue in the Islamic financial services industry, as it focuses on the innovation that creates a competitive advantage for these institutions and helps promote the growth of Islamic finance.

Liz Truss: Fintech friend or foe? Industry reacts to new PM Sat, 10 Sep 2022 10:01:02 +0000

Earlier this week, Liz Truss successful Boris Johnson as British Prime Minister, beating his rival Rishi Sunak in the race to become leader of the Conservative Party. But what does his nomination mean for the UK fintech community? The industry shares its point of view.

Simon Cureton, CEO, Funding Options
Simon Curéton, CEO, Financing Options

“We welcome Liz Truss’ evident passion for the city as a ‘crown jewel’ and are confident that she has the fintech community as much as the institutions in place in mind as she sets her economic agenda in the following months.

“When Sir Ron Kalifa’s Review of UK Fintech was published last year, it recognized that there were many opportunities to make the UK the epicenter of financial innovation and highlighted the strengthening of our presence on global markets, which we hope she will take with her from the foreign office.

“There are reasons the UK financial sector is so admired overseas, including the rule of law, regulation and expertise that resides in the Square Mile and beyond. Its promised ‘war on technocrats’ must be fought carefully, but it represents a chance to position the UK as a leader in realizing the benefits of open banking and in adopting the technologies that will make the take faster and more robust lender decision making than ever before.

“We face a global financing gap, exacerbated by the energy crisis, and SMEs remain at the heart of all global economies. The more we do to foster an environment in which small businesses are helped and not hindered, the better it will be for the UK, business owners and the ability of the fintech community to export its prowess to other major economies.

Romi Savova, CEO, PensionBee
Romi Savova, CEO, PensionBee
Romi SavovaCEO, PensionBee

“Newly appointed Prime Minister Liz Truss will have a host of immediate decisions to make, in order to bring certainty and stability to businesses and consumers, in these tumultuous times.

“As we have a supply problem, I urge the new Prime Minister to prioritize policies that support consumers and businesses in the short term, rather than measures that kill demand.

“It is imperative that the government does not tip the economy into an unnecessary recession by raising taxes. The new Prime Minister should not be afraid to borrow a little more; and choosing versatile short-term policy measures that are quick to implement but just as quick to reverse, such as reducing VAT.

“Under this latest administration, I hope the new Minister for Pensions and Financial Inclusion will focus on putting consumers back at the heart of pensions, by finally legislating a 10-day pension change guarantee.

Chaim Hack
Chaim Hack, Business Development Manager, Coremont
Chaim Hack, business development manager, Coremont

“Actions always speak louder than words and in the weeks and months to come we will have clues about what program the new Conservative government will put in place and how it will support the fintech sector.

“Whether it’s digital bank Chase setting up shop in Birmingham or local businesses such as Revolut expanding rapidly, the UK fintech sector still has huge undiscovered potential. Indeed, companies British fintech companies received £7.6 billion in funding in the first half of 2022, the second-largest in the world after the £20.8 billion raised by US companies.

“Additionally, data compiled by industry body, Innovate Finance, showed that for the first half of the year, global fintech investment reached £57.6 billion. The opportunity to boost the fintech industry and developing it much more is here – now it’s up to PM Truss to enact the policies.

Thomas TudehopeGlobal Head of Public Policy, Luna

“Luno looks forward to working with Ms. framework and his team to design a regulatory framework for crypto that will drive economic growth, create thousands of jobs, and protect consumers.

“As outlined in our recent response to Parliament’s inquiry into the crypto industry, Luno believes there is an urgent need to develop and implement a regulatory framework that protects consumers, ensures that all crypto companies operate to the highest standards and enables UK businesses to plan with the certainty needed if we position the country as a global leader in the digital asset ecosystem.

Bo Brustkern, CEO, Fintech Nexus
Bo Brustkern, CEO, Fintech Nexus
Bo Brustkern, CEO, Fintech Nexus

From a regulatory perspective, our thesis continues to do well: the UK is (still) among the most hospitable places to build innovative fintech.

“If Liz Truss takes economics seriously (no doubt about it!), then embracing the ‘new’ fintech – aka crypto, aka Web3 – may be a decision she’s ready to make.

“A strong move in this direction would define the next decade of financial innovation (and beyond) for the UK, and would undoubtedly help cement London’s place in the changing global financial order.”

Innovate Financing

“Innovate Finance would like to congratulate new Premier Liz Truss on her appointment. We look forward to continuing to work with her and the government to further strengthen the UK’s position as a global fintech hub and to realize the full potential of fintech to create a more democratic financial services sector, inclusive and effective that works best for everything.

“The fintech ecosystem has enjoyed and benefited from the strong support of the UK government over the years. However, much more needs to be done to ensure that we unlock the full potential of innovation to create a better financial services industry for all, and as such, it is imperative that we maintain the current momentum.

Simon Taylor, Head of Strategy and Content, Sardine
simon taylorstrategy & content manager, Sardineand co-founder of 11:FS

“UK fintech has a reputation for being one of the most exciting in the world. But with a new Prime Minister, Liz Truss, will things get better or worse? The UK fintech sector exploded with the first mainstream fintech companies like Sage, Revolut, Monzo and Starling capturing global attention and massive payment companies like Checkout reaching multi-billion dollar valuations over the past decade.

But after Brexit, the UK had four key issues: access to talent, access to growth capital, access to the European market and responsiveness/openness of regulators. So will Liz Truss change things?

1. Worldview Matters
Liz Truss won her party’s support by promising low taxes and support for businesses. I read this as being more friendly to “the city” than fintech companies disrupting it. I hope I am wrong on this point, because the fintech industry can be an engine of growth.

2. There are fruits handy to deliver
The Khalifa Review published in February 2021. It sets out policy recommendations on talent, capital and rosters. Most of them have not been implemented. The government has been frozen by Brexit, the pandemic and now leadership changes and Ukraine. It’s time to deliver.

3. Smashing regulators together might not solve anything
Truss wants to merge CIF, PRA and bank of england in one. This move might make life easier for some in big finance, but I find it hard to see it as anything other than cost cutting. Compared to the US, the UK regulatory environment is incredibly simple.

Read Taylor’s comments in full in her LinkedIn post.

The Prime Minister’s to-do list: How Liz Truss can continue the UK’s fintech success story

FCA and Cryptocurrency – Lexology Tue, 06 Sep 2022 08:41:27 +0000

Rahman Ravelli’s Syed Rahman considers the Financial Conduct Authority’s ongoing response to cryptocurrency issues and cooperation between US and UK authorities.

In a speech at the Peterson Institute for International Economics, the Chief Executive of the Financial Conduct Authority (FCA), Nikhil Rathi, discussed the benefits of the US-UK collaboration on cryptocurrency. His speech also described how he sees his agency responding to the challenges posed by crypto now and in the future.

Rathi spoke about the opportunities and risks associated with crypto, calling it “a new product, easily accessible and capable of operating across borders”, which raised issues such as consumer protection, market integrity , data privacy and financial crime. He cited the FCA securing an agreement with Google that it would not allow non-FCA verified companies to advertise financial products on its platform as an example of his accomplishments. He also explained how the FCA “raised the alarm” over Binance’s supervision and imposed restrictions on it so that it could not undertake any regulated activity in the UK without written consent.

The Managing Director explained that the UK and the US had held talks under the US-UK Partnership for Financial Innovation, where an agreement had been reached to deepen ties on financial innovation after exchanged views on crypto-asset regulation and market developments. The UK, US and Singapore also announced the launch of the IOSCO (International Organization of Securities Commissions) Task Force on Decentralized Finance and Crypto Market Integrity Risks.

While the FCA’s mandate is currently limited to anti-money laundering rules for platforms, it has enforced these rules strictly; with what Rathi calls “a significant number of companies” having worked with the regulator to improve their controls and systems. He said the FCA has supported the development of many UK blockchain companies, with hundreds of companies going through its Innovation Hub program which helps financial services companies launch innovative products and services.

The FCA held its CryptoSprints in May and June this year, where regulators, academics, industry experts and investors came together to discuss possible policy ideas in an attempt to regulatory body to solicit industry views on the crypto market and to probe how to design an appropriate regulatory regime. Rathi said those involved in this exercise see a regulatory regime for crypto-assets as a high priority and want any regulation to be phased in so that businesses and investors can prepare and adapt to any the rules introduced for crypto-assets.

The FCA said its participation in the Digital Regulators Cooperation Forum has strengthened cooperation with the Office of Communications (Ofcom), the Markets and Markets Authority (CMA), the Information Commissioner’s Office (ICO ) and the Financial Conduct Authority (FCA). Became a full member in April 2021 – after having been an observer member – it works with other members to develop a coherent approach to regulation and policy-making, promote innovation, strengthen international engagement and work alongside other regulators.

In his speech, Rathi emphasized how much the FCA appreciates its continued enforcement cooperation with U.S. agencies such as the Securities and Exchange Commission, Commodity Futures Trading Commission and Department of Justice. This, he believes, “has created an important body of precedent that demonstrates the ability to act effectively on a global scale.”

Mastercard and Ajman Bank launch a payment card for the visually impaired Sun, 04 Sep 2022 16:01:08 +0000

MasterCard and Bank of Ajman unveiled an accessible payment card that allows people who are blind and visually impaired to make payments easier and distinguish their cards.

The side of the Mastercard Touch Card features a notch system to help consumers who are blind or have low vision determine whether they have a credit, debit or prepaid card.

An estimated 15% of the world’s population suffers from some form of disability, making it the largest minority group in the world. Co-designed by an augmented identity company IDEMIAthe map was supported by The Royal National Institute for the Blind (RNIB) in the UK and VISIONS/Services for the blind and visually impaired in the USA.

Mohammad Amiri, Managing Director of Ajman Bank, said: “At Ajman Bank, inclusion is an integral part of our corporate culture and our social responsibility. Innovation has the power to change the world for the better. We are delighted to partner with Mastercard to be the first to help pilot this innovative solution that will help us meet everyone’s needs.

“For visually impaired customers, choosing the right card can very often be a difficult experience. Touch Card allows consumers to quickly distinguish the card they are using thanks to the three distinct notches. We’ve always appreciated Mastercard’s vision to think of new ways to innovate and do things differently to serve more people.

The map

The Touch Card was designed to work with point-of-sale terminals and ATMs. Credit cards have a square notch; debit cards have a rounded notch; and prepaid cards have a triangular notch.

In addition to blind and visually impaired consumers, anyone in a low-light environment or searching through a wallet or purse with one hand can benefit from the touch map design.

“We strongly believe that no one should be left behind in our pursuit of a digital future,” said Khalid El Gibali, Division President, Middle East and North Africa, Mastercard. “Through the power of innovation, we are driving financial inclusion and access to digital services by connecting everyone to the digital economy.

“The world is changing for the better thanks to early adopters, and it is our honor to partner with Ajman Bank to design a rewarding solution that makes life easier for people who are blind or visually impaired in the UAE.”

A recent Mastercard study, Closing the Disability Gap: An Opportunity to Make a Positive Impact, revealed that digital inclusion is the pathway to financial inclusion for people with disabilities. He points out that there is a clear opportunity for the industry to work together to positively impact the lives of millions of people around the world.

DIEGO (DIG) is now available for trading on LBank Exchange Fri, 02 Sep 2022 07:34:47 +0000

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Internet City, Dubai–(Newsfile Corp. – September 2, 2022) – LBank Exchange, a global digital asset trading platform, listed DIEGO (DIG) on August 31, 2022. For all LBank Exchange users, the DIG /USDT trading pair is now officially available for trading.

DIG registration banner

To view an enhanced version of this graphic, please visit:

As an ethical finance platform that creates value, DIEGO (DIG) uses the power of blockchain technology to improve economic inequality, direct finance, and provide legitimacy through investment and use. Its native token DIG was listed on LBank Exchange at 3:00 p.m. (UTC+8) on August 31, 2022, to further expand its global reach and help realize its vision.

Presentation of the DIEGO project

DIEGO is a financial innovation project using blockchain-based DeFi (decentralized finance) token and NFT (non-fungible token). He is there to achieve an innovative transformation of the new finance in addition to the existing social system and share the results with the project participants. And it aims to build a strong blockchain financial ecosystem to “strengthen freedom, peace and social solidarity” by supporting economic and social activities with an ethical basis and providing a platform to convert real assets into digital values.

The decentralized financial service provided by DIEGO Platform based on blockchain surpasses existing financial platform services, providing a platform for DApp access and content such as NFT (Digital Items, Entertainment, E-Sports) and online games.

As a blockchain project that helps people move towards a world everyone dreams of, DIEGO has the core value that comes with “ethical business activities”. It will offer a blockchain-based “global digital financial platform” that cannot be tampered with to provide the real economic benefits to DIEGO members. In addition, DIEGO plans to expand the “cooperative partnership” with all financial infrastructure business areas, develop the DIEGO Token ecosystem, achieve notable growth every year and increase the value of the project. DIEGO.

About DIG Token

DIG is the utility token that maintains value stability through various financial services provided by the DIEGO platform. In addition to being used for the service of the DIEGO platform, DIG is also consumed and managed in various ways within the DIEGO ecosystems, such as token holder rewards, airdrop events and the distribution of project income.

Based on BEP-20, DIG has a total supply of 10 billion (10,000,000,000) tokens, of which 10% is for global finance partnership, 20% is allocated for clearing, another 20% are provided for domestic and global distribution, another 20% is provided for virtual asset trading, 10% is provided for linking hard assets, another 10% is allocated for finance and mining, and the remaining 10% will be invested in real estate and futures.

DIG token was listed on LBank Exchange at 15:00 (UTC+8) on August 31, 2022, investors interested in DIEGO investment can easily buy and sell DIG token on LBank Exchange right now.

Learn more about the DIG token:

Official website:


About LBank

LBank is one of the leading crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and secure crypto trading to its users. The platform has more than 7 million users from over 210 regions around the world. LBank is a growing, cutting-edge platform that ensures the integrity of user funds and aims to contribute to the global adoption of cryptocurrencies.

Start trading now:

Community and social media:

l Telegram





l YouTube

Contact details:

LBK Blockchain Co. Limited

LBank Scholarship

[email protected]

[email protected]

To view the source version of this press release, please visit

The Needs of Traditional Finance for Crypto Innovation Wed, 31 Aug 2022 15:50:47 +0000


Despite all the innovations in the app economy to match supply and demand for physical services (think: Uber’s peak pricing), there is no equivalent to balancing distortions in markets real-time financing.

The world of “intraday” funding – that is, cash borrowed during the day rather than overnight – remains heavily dependent on excess central bank liquidity, even as Federal Reserve officials are working to accelerate the rate at which this cash must be withdrawn in September and October. Once this de facto free liquidity is withdrawn, funding shortages could easily reappear, potentially rocking the markets overnight and in the longer term. If they do, market participants will have to find their own solution – or go to the Fed and risk stigma.

Believe it or not, the crypto world – which has never resorted to a lender of last resort – can now be consulted for inspiration on how to navigate this more restricted environment.

Take, for example, perpetual exchange (or perpetual future as it is also called). Since its inception in 2016, it has become extremely popular in the highly parochial world of crypto trading due to the way it allows speculators to take synthetic positions that avoid the risks, costs, and friction associated with moving or trading. real cryptocurrency management, which can be hacked, mismanaged, or inaccessible if a password is lost.

Unlike conventional derivatives, the perpetual future never deviates from the spot price of the crypto it refers to. Usually, if you trade one-month, two-month, or three-month futures contracts on anything, the price will reflect premiums or discounts to the reference price – this is called the basis. The perpetual swap design, by creating an active price for intraday funding, prevents this.

The combination of the ability to trade crypto synthetically and with no basis cost has helped make BitMEX, the derivatives exchange that first introduced the contract, a key destination for crypto trading and a billion dollar company. The perpetual swap has since been replicated in many other exchanges in response to popular user demand.

And yet, despite becoming one of the most significant financial innovations to come out of the crypto space, the perpetual swap remains largely unknown in the world of traditional finance. This is primarily because the role the contract plays in intraday crypto pricing relative to dollar liquidity is not well understood, even by crypto traders who frequently use the contract.

This applies in particular to the mechanics of the premium index, on which the contract is unintentionally based. The concept for the index came about when Ben Delo, the co-founder of BitMEX most responsible for inventing the perpetual swap, realized that if he wanted to remove basis risk from the equation, it should make traders pay. separately. (In February, as part of a negotiated settlement, Delo and his BitMEX co-founders pleaded guilty to violating US bank secrecy law.)

In Delo’s mind, if traders who wanted to go long in the market were forced to pay an active funding rate to those who took the opposite view just to keep positions open, that would encourage clients to take the other side of the trade. The process would balance the system and link the perpetual contract to the bitcoin spot price. The premium index was the means by which the funding rate was determined, and it was derived from the degree to which the perpetual contract traded above or below the current funding rate. Any discrepancy would then be used to adjust the funding rate for the next eight-hour period.

It is this type of open source mechanism that could be applied to conventional FX (and other) swap markets to help traders manage tighter funding conditions. Much like with Uber’s surge pricing system, if and when an imbalance arose, they would be paid by the market to take the other side – bringing the market back to equilibrium quickly. In theory, this would reduce the risk of short-term liquidity shortages turning into much broader systemic liquidity problems further down the line or problems that need to be resolved through more formal central bank channels.

So far, JP Morgan Chase & Co.’s attempt to develop an internal “coin” to alleviate the bank’s internal funding imbalances comes closest to any serious effort to address similar issues in the financial system. The bank was motivated to do so because it is already a de facto “penultimate resort” lender in the market due to the excess liquidity it most often displays on its balance sheet. This means that before banks even think about using Fed overdraft facilities, they usually try to borrow from JP Morgan.

But being beholden to just two major lenders on an intraday basis is far from ideal. Adapting innovations such as the perpetual future system to dollar markets would increase options for accessing liquidity in the event of a major dollar shortfall, which is becoming an increasingly large possibility without the buffer of excess reserves. .

It is important to remember that all day-to-day funding issues stem from intraday issues that cannot be effectively resolved over time. The only reason the market never devised its own tools to better trade intraday funds is that there was little to no stigma attached to using Fed overdraft facilities until the financial crisis. world. Since then, quantitative easing has obscured the issue of imbalances. However, the Fed’s tightening path should change that.

Fortunately, with the perpetual swap, we have the tools to trade intraday funding more efficiently. They should be deployed creatively as soon as possible.

More from Bloomberg Opinion:

• Jackson Hole should be a mea culpa for central bankers: Marcus Ashworth

• The era of the economic boost has only just begun: Eduardo Porter

• China’s economic prudence is a problem for all of us: Daniel Moss

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Izabella Kaminska is the founder and editor-in-chief of Blind Spot. She spent 13 years at the Financial Times, most recently as editor of FT Alphaville.

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]]> How digital innovations can strengthen the personal finance market in the future Mon, 29 Aug 2022 17:11:48 +0000

The Covid-19 pandemic that hit the world in 2020 was a harsh reality and many suffered heavy losses. It was not only human losses, but also investments that were reversed. The pandemic has also provided insight into why investments and savings are vital for the future. Personal finance is all about achieving your personal financial goals, which can be anything from retirement to buying a house or even a car. Financial goals can be short and long term. Some aspects of personal finance depend on generating income, spending, investing savings, and protecting savings.

Currently, digital finance is booming. The pandemic has led to an increase in digital finance with many fintech and neo-banks entering the scene. There has been a massive increase in demand for financial services like loans, savings, and investing in fintech companies. Even when the spread of the pandemic slowed due to the rapid vaccination campaign, the rise of digital finance and other fintech innovations to meet financial needs remained robust. Additionally, digital innovations have led to home banking. Following this, digital transactions have seen a surge.

According to RBI data, the share of digital transactions in total non-cash retail payment volume increased to 99.3% in 2021-22, from 98.8% the previous year.

In its May 27 reporting data, RBI said: “Growth in digital payments can be attributed to the increased availability of acceptance infrastructure, which has seen substantial growth over the year thanks to the operationalization of the Payments Infrastructure Development Fund (PIDF).”

There are many supports for personal finance. One can invest in market-linked instruments or opt for traditional schemes such as fixed deposits or small savings schemes.

Sankalp Mathur, co-founder and CRO of Niro, said, “Lately, especially with the advent of the pandemic, there has been an increase in the number of people who have turned to digital finance and other fintech innovations to meet their financial needs.”

According to Mathur, this fintech revolution has ensured a growing participation of public and private forces to educate consumers, create differentiated easy-to-use fintech products, and digitalize existing financial services.

“These efforts have become imperative to ensure that consumers and the general public can safely access financial services from the comfort of their homes without having to compromise their time, effort or financial health,” Mathur added.

The co-founder of Niro highlights three methods to boost personal finance in India:

1. Improving financial literacy for the masses

Mathur said, “One of the most important steps to strengthen FP in India is to educate the masses. Our educational institutions are struggling with a curriculum that is not hugely relevant to most. no one uses geometry in their daily lives, whereas most individuals have to make financial decisions on a routine basis and unfortunately, they are not well equipped to do so.”

A large number of people do not understand the concept of inflation and thousands lose money in day trading or fall victim to investment fraud. Additionally, there is a big public misconception about debt and credit that needs to be addressed. Therefore, educational guidance in personal finance is vital today, he added.

2. Personalized investments and wealth management

Investments and personal wealth management are other areas where many digital innovations have taken place. The key for any individual is to ensure they have an investment plan in place and to have the discipline to consistently allocate capital according to the plan. There are now a host of internet platforms that allow an individual to choose from a wide variety of funds (or take an SIP) depending on their risk appetite and investment horizon.

There are also interesting platforms that allow an individual to create an investment basket for a particular period of time that minimizes risk and maximizes return. Reservation of time deposits, trading in shares, etc. has been made extremely easy thanks to the availability of online portals for banks and the dematerialization of actions.

Now, investing in FDs has become as easy as a few clicks on your online bank from the comfort of your own home. You don’t even have to go to a bank, just use your check or passbook or open a bank account at home. In addition, you can invest in many schemes or file your tax return in a few steps electronically.

“Still, I think there is a lot more room for innovation in this space. We need advanced technologies like AI and ML to accurately personalize, investments and financial well-being of individuals. depending on the size of their portfolio and their financial health,” added Mathur.

3. Greater sophistication in calculating insurance premiums

With the advancement of technology that has made it possible to track the health of individuals on a day-to-day basis using a fitness bracelet, the current method of calculating insurance premiums seems quite orthodox. Some companies outside the Indian subcontinent have adopted advanced models for premium calculation and have seen increasing success in this approach.

Mathur added, “This is another form of digital innovation that can empower and revolutionize the personal finance market in India.”

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