JPMorgan Chase unveils generative AI for analyst work
JPMorgan Chase introduces LLM Suite, an AI-driven tool similar to ChatGPT, to boost productivity in its asset and wealth management division. Go to Source
Financial Technology
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Digital Shekel Challenge: Bank of Israel Engages 14 Teams for Digital Currency Innovation
The Bank of Israel has initiated the “Digital Shekel Challenge” to explore the potential of a central bank digital currency (CBDC) system inspired by the BIS Innovation Hub’s “Project Rosalind.” Fourteen teams from various sectors have been selected to propose innovative use cases. The challenge aims to integrate digital shekel with other payment systems and … Read more
Bitso Integrates Lightspark for Bitcoin Lightning Network
Bitso, a leading Latin American cryptocurrency platform, has announced its partnership with Lightspark to incorporate the Bitcoin Lightning Network into its services. This integration aims to enhance the speed and affordability of bitcoin transactions for Bitso’s users. Bitso Adds Lightning Support via Lightspark The integration of Lightspark Connect will allow Bitso‘s 8 million retail customers … Read more
Banque de France, Hong Kong Monetary Authority explore CBDC, tokenization
The HKMA set up Project Ensemble months ago. Now we know why. Go to Source
Hong Kong targets DeFi, metaverse for fintech expansion
Despite challenges in the current DeFi and metaverse landscape, the reports highlight potential growth and innovation in these emerging sectors. Go to Source
Coinbase Challenges SEC’s Rulemaking Process, Argues for Clear Regulations on Digital Assets
Coinbase, Inc. has escalated its dispute with the Securities and Exchange Commission (SEC) by filing a reply brief in the Third Circuit Court of Appeals, arguing the necessity of clear rulemaking for the digital asset industry. The case underscores the ongoing tensions between regulators and the digital asset sector over compliance and operational standards. Coinbase … Read more
Mastercard Launches Crypto Credential Service for Simplified Cross-Border Transactions
Financial giant Mastercard has initiated its first real-world application of the Crypto Credential system, a system aimed at facilitating easier and more secure peer-to-peer (P2P) cryptocurrency transactions. The service, which allows users to transfer cryptocurrencies using simple aliases, has gone live across several exchanges in Europe and Latin America. Mastercard Launches Crypto Credential, Aiming for … Read more
US Treasury strategy would tighten virtual asset regs, increase use of AI
Better regulations, greater enforcement and AI are going to be the focus of the Treasury’s fight against illicit finance. Go to Source
Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees
In just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool. This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from $1.99 per transaction on April 26 to a current … Read more
Microstrategy’s Bitcoin Holdings Reach 140,000 BTC After Acquiring 1,045 More Bitcoins
Nine days after publicly listed company Microstrategy purchased 6,455 bitcoins, the firm’s CEO, Michael Saylor, announced the purchase of an additional 1,045 bitcoins. The business intelligence (BI) company now holds a total of 140,000 bitcoins, worth $3.97 billion. Microstrategy Buys Another Batch of Bitcoins Microstrategy has begun acquiring bitcoin (BTC) again, after purchasing 6,455 bitcoins … Read more
