Topic: Payment services

Fed proposes fintech access guidelines

The US Federal Reserve has proposed new guidelines on granting fintechs access to its payment system – as the banking industry raises concerns over access for “uninsured and lightly regulated” entrants.

07 May 2021

Second time lucky for WhatsApp payments in Brazil

WhatsApp’s payments platform in Brazil has won regulatory approval to operate, nearly a year after the central bank shut down its operations within days of launch.

05 May 2021

Covington advising as OCC approves Paxos charter

Blockchain platform Paxos is set to be the first crypto firm to hold both national and state bank charters in the US, after the Office of the Comptroller of the Currency granted its charter application preliminary conditional approval in the face of industry backlash.

27 April 2021

“Britcoin?” UK unveils CBDC taskforce

The United Kingdom has moved a step closer to developing a digital version of its currency.

19 April 2021

EU and Russia push forward on CBDC plans, amid pushback

Central banks in Russia and the European Union have both moved forward on their ambitions for digital versions of their currencies, as private sector voices increasingly raise concerns about the potential impact of CBDCs on financial stability.

16 April 2021

Treasury fintech review urges unified UK regulatory strategy

UK practitioners have welcomed proposals recommending a new regulatory framework for the fintech sector.

02 March 2021

Brazil’s “gamechanger” open banking directory begins implementation

Brazil’s central bank is one step closer to the launch of an integrated open banking system, as the country's banks begin migrating information in the first stage of the project's implementation.

27 January 2021

Singapore regulator gets new powers over crypto payments

Singapore has granted its banking regulator increased powers to monitor a wider range of companies offering cryptocurrency services, in a bid to counter money laundering and terrorist financing through digital service providers.

11 January 2021

Santander snaps up Wirecard payments platform, with A&O advising

Allen & Overy is advising Santander on its acquisition of Wirecard’s core technology assets, the latest in a series of firesales at the collapsed German payments firm which is facing claims worth over €12 billion.

18 November 2020

Digital euro could threaten bank business models, ECB says

The European Central Bank has warned that a digital euro could alter banks’ entire business models and encourage greater risk-taking behaviours.

20 October 2020

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