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Welcome to the Bullet Point Bulletins Weekly Wrap-Up With Bruce Burke and Tedd Huff of Fintech Confidential.
This week we are discussing how JP Morgan’s Onyx Blockchain is being used to transact intraday repos.
And we’ll be talking about their recently trademarked “JP Morgan Wallet”.
And of course well the talking about Binance’s $1-2 Billion Dollar Crypto Industry Recovery Fund which aims to bail out the industry.
We're also talking about how Binance is investing in a self-custody hardware crypto wallet solution from Ngrave.
And we're also talking about how the Reserve Bank of India is doing a retail CBDC pilot program, creating the digital rupee. They are trialing it with a large list of banks, payment companies, and service providers.
A special shout out to Tedd Huff of @Fintech Confidential for his support and interaction on this and many other projects.
We'll continue to do this wrap-up every week we are able. It's interesting to discuss these happenings with Tedd.
#convergence5 #technology3 #bulletins #technology2 #technology1 #blockchain1 #blockchain0 #confidential6 #confidential5 #confidential #confidential4 #blockchain7 #blockchain6 #confidential3 #technology0 #blockchain5 #convergence4 #confidential2 #convergence3 #intelligence4 #convergence2 #confidential1 #technology9 #convergence9 #intelligence3 #technology8 #blockchain #convergence1 #paynearby #convergence8 #convergence0 #intelligence2 #intelligence1 #technology7 #technology6 #confidential0 #intelligence9 #intelligence8 #blockchain4 #trademark #intelligence7
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https://youtu.be/P3paEl5odDs
This week we are discussing how JP Morgan’s Onyx Blockchain is being used to transact intraday repos.
And we’ll be talking about their recently trademarked “JP Morgan Wallet”.
And of course well the talking about Binance’s $1-2 Billion Dollar Crypto Industry Recovery Fund which aims to bail out the industry.
We're also talking about how Binance is investing in a self-custody hardware crypto wallet solution from Ngrave.
And we're also talking about how the Reserve Bank of India is doing a retail CBDC pilot program, creating the digital rupee. They are trialing it with a large list of banks, payment companies, and service providers.
A special shout out to Tedd Huff of @Fintech Confidential for his support and interaction on this and many other projects.
We'll continue to do this wrap-up every week we are able. It's interesting to discuss these happenings with Tedd.
#convergence5 #technology3 #bulletins #technology2 #technology1 #blockchain1 #blockchain0 #confidential6 #confidential5 #confidential #confidential4 #blockchain7 #blockchain6 #confidential3 #technology0 #blockchain5 #convergence4 #confidential2 #convergence3 #intelligence4 #convergence2 #confidential1 #technology9 #convergence9 #intelligence3 #technology8 #blockchain #convergence1 #paynearby #convergence8 #convergence0 #intelligence2 #intelligence1 #technology7 #technology6 #confidential0 #intelligence9 #intelligence8 #blockchain4 #trademark #intelligence7
#convergence0 #convergence7 #technology5 #intelligence #blockchain8 #technology4 #cryptocurrency #intelligence0 #convergence4 #confidential9 #confidential8 #intelligence6 #convergence5 #technology3 #bulletins #convergence #confidential7 #technology #humanity #convergence6 #confidential6 #intelligence5 #blockchain3 #blockchain2
https://youtu.be/P3paEl5odDs
Singapore’s DBS Bank announced it had executed its first intraday repo transaction using JP Morgan’s Onyx Digital Assets network powered by blockchain.
Banks use repurchase agreements, aka repos for short term funding by selling securities such as U.S. Treasuries, and agreeing to repurchase them later.
Repos are a massive market with more than $4 Trillion in U.S. dollar repos outstanding at any one time.
Since repos are intended for short term funding, the drawback is that settlement usually takes two days.
Distributed ledger technology (DLT), with its instant settlement or delivery versus payment (DvP), makes it practical to have repo transactions that span a few hours rather than a day or more.
Andrew Ng, Head of Treasury and Markets at DBS, said that for repos, “infrastructural and technical inefficiencies meant the minimum term has usually been one day.
In the case of Onyx Digital Assets, in addition to tokenizing the repo security, the DLT repo solution also uses JPM Coin its blockchain-based bank account, to enable instant settlement.
DBS Bank is the first Asian bank to use the repo solution. Other announced participants include Goldman Sachs and BNP Paribus.
When BNP joined in May, cumulative transactions had reached $300 billion since the December 2020 launch.
This is the first time that J.P. Morgan is acting as both Triparty Agent and Collateral Token Agent, which is an exciting development for the market,” said Ed Bond, Head of Trading Services, Asia Pacific at J.P. Morgan.
#transactions6 #goldmansachs9 #intelligence #goldmansachs8 #inefficiencies0 #transactions5 #goldmansachs7 #inefficiencies9 #jpmorganchase4 #inefficiencies8 #infrastructural4 #transactions4 #inefficiencies7 #infrastructural3 #goldmansachs6 #goldmansachs5 #inefficiencies6 #intelligence5 #inefficiencies5 #goldmansachs4 #inefficiencies4 #transactions3 #goldmansachs #inefficiencies3 #goldmansachs3 #infrastructural6 #intelligence4 #infrastructural9 #transactions2 #infrastructural8 #infrastructural2 #transactions1 #inefficiencies2 #goldmansachs2 #jpmorganchase3 #intelligence6 #transactions #intelligence3 #distributed #jpmorganchase2 #intelligence2 #deliveryversuspayment #transactions0 #goldmansachs1 #infrastructural #inefficiencies #goldmansachs0 #jpmorganchase9 #infrastructural1 #infrastructural0 #inefficiencies1 #securities #treasuries #jpmorganchase8 #intelligence1 #jpmorganchase1 #jpmorganchase7 #infrastructural5 #jpmorganchase6 #jpmorganchase5 #jpmorganchase #infrastructural7 #jpmorganchase0 #transactions9 #transactions8 #transactions7 #intelligence0
Banks use repurchase agreements, aka repos for short term funding by selling securities such as U.S. Treasuries, and agreeing to repurchase them later.
Repos are a massive market with more than $4 Trillion in U.S. dollar repos outstanding at any one time.
Since repos are intended for short term funding, the drawback is that settlement usually takes two days.
Distributed ledger technology (DLT), with its instant settlement or delivery versus payment (DvP), makes it practical to have repo transactions that span a few hours rather than a day or more.
Andrew Ng, Head of Treasury and Markets at DBS, said that for repos, “infrastructural and technical inefficiencies meant the minimum term has usually been one day.
In the case of Onyx Digital Assets, in addition to tokenizing the repo security, the DLT repo solution also uses JPM Coin its blockchain-based bank account, to enable instant settlement.
DBS Bank is the first Asian bank to use the repo solution. Other announced participants include Goldman Sachs and BNP Paribus.
When BNP joined in May, cumulative transactions had reached $300 billion since the December 2020 launch.
This is the first time that J.P. Morgan is acting as both Triparty Agent and Collateral Token Agent, which is an exciting development for the market,” said Ed Bond, Head of Trading Services, Asia Pacific at J.P. Morgan.
#transactions6 #goldmansachs9 #intelligence #goldmansachs8 #inefficiencies0 #transactions5 #goldmansachs7 #inefficiencies9 #jpmorganchase4 #inefficiencies8 #infrastructural4 #transactions4 #inefficiencies7 #infrastructural3 #goldmansachs6 #goldmansachs5 #inefficiencies6 #intelligence5 #inefficiencies5 #goldmansachs4 #inefficiencies4 #transactions3 #goldmansachs #inefficiencies3 #goldmansachs3 #infrastructural6 #intelligence4 #infrastructural9 #transactions2 #infrastructural8 #infrastructural2 #transactions1 #inefficiencies2 #goldmansachs2 #jpmorganchase3 #intelligence6 #transactions #intelligence3 #distributed #jpmorganchase2 #intelligence2 #deliveryversuspayment #transactions0 #goldmansachs1 #infrastructural #inefficiencies #goldmansachs0 #jpmorganchase9 #infrastructural1 #infrastructural0 #inefficiencies1 #securities #treasuries #jpmorganchase8 #intelligence1 #jpmorganchase1 #jpmorganchase7 #infrastructural5 #jpmorganchase6 #jpmorganchase5 #jpmorganchase #infrastructural7 #jpmorganchase0 #transactions9 #transactions8 #transactions7 #intelligence0
1 comment
Fabian P. L.
Nov 30, 2022 - 8:35AM
Thank you for sharing. Very interesting
Having tested the wholesale usage of its central bank digital currency (CBDC), the Reserve Bank of India (RBI) is preparing to conduct the retail pilot of the “digital rupee.”
According to the Economic Times of India, the RBI is in the final stage of preparing the rollout of the retail digital rupee pilot, which should launch within a month.
Among the first participants are the State Bank of India, Bank of Baroda, ICICI Bank, Union Bank of India, HDFC Bank, Kotak Mahindra Bank, and Yes Bank.
The pilot plans to eventually include all banks in India. Each bank participating in the trial will test the CBDC among 10,000 to 50,000 users.
To integrate the new payment option, the banks will collaborate with PayNearby and Bankit. The CBDC Infrastructure will be held by the National Payments Corporation of India.
Both customers and merchants will have to download the special wallets for the CBDC.
The digital rupee is intended as a supplement to the current payment system, and not its replacement.
The wholesale segment pilot for the digital rupee was launched by Reserve Bank of India on Nov. 1. Its main use case has been the settlement of secondary market transactions in government securities.
#delivering8 #technology2 #intelligence #intelligence4 #delivering7 #infrastructure2 #smartcontract5 #delivering6 #smartcontract0 #intelligence3 #infrastructure9 #delivering5 #technology6 #delivering4 #technology1 #delivering3 #delivering2 #delivering1 #intelligence2 #infrastructure1 #intelligence1 #smartcontract4 #intelligence0 #infrastructure8 #infrastructure0 #delivering0 #infrastructure7 #intelligence9 #technology0 #smartcontract3 #technology5 #delivering9 #smartcontract9 #christine #technology4 #smartcontract8 #blockchain #infrastructure6 #infrastructure5 #intelligence8 #intelligence7 #infrastructure4 #smartcontract #smartcontract7 #cryptocurrrency #smartcontract6 #technology #intelligence6 #intelligence5 #delivering #utilizing #smartcontract2 #infrastructure #infrastructure3 #smartcontract1 #technology3 #wholesale #technology7
https://youtu.be/zng0LZHGeWA
According to the Economic Times of India, the RBI is in the final stage of preparing the rollout of the retail digital rupee pilot, which should launch within a month.
Among the first participants are the State Bank of India, Bank of Baroda, ICICI Bank, Union Bank of India, HDFC Bank, Kotak Mahindra Bank, and Yes Bank.
The pilot plans to eventually include all banks in India. Each bank participating in the trial will test the CBDC among 10,000 to 50,000 users.
To integrate the new payment option, the banks will collaborate with PayNearby and Bankit. The CBDC Infrastructure will be held by the National Payments Corporation of India.
Both customers and merchants will have to download the special wallets for the CBDC.
The digital rupee is intended as a supplement to the current payment system, and not its replacement.
The wholesale segment pilot for the digital rupee was launched by Reserve Bank of India on Nov. 1. Its main use case has been the settlement of secondary market transactions in government securities.
#delivering8 #technology2 #intelligence #intelligence4 #delivering7 #infrastructure2 #smartcontract5 #delivering6 #smartcontract0 #intelligence3 #infrastructure9 #delivering5 #technology6 #delivering4 #technology1 #delivering3 #delivering2 #delivering1 #intelligence2 #infrastructure1 #intelligence1 #smartcontract4 #intelligence0 #infrastructure8 #infrastructure0 #delivering0 #infrastructure7 #intelligence9 #technology0 #smartcontract3 #technology5 #delivering9 #smartcontract9 #christine #technology4 #smartcontract8 #blockchain #infrastructure6 #infrastructure5 #intelligence8 #intelligence7 #infrastructure4 #smartcontract #smartcontract7 #cryptocurrrency #smartcontract6 #technology #intelligence6 #intelligence5 #delivering #utilizing #smartcontract2 #infrastructure #infrastructure3 #smartcontract1 #technology3 #wholesale #technology7
https://youtu.be/zng0LZHGeWA
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Master C.
Jan 8, 2023
We are looking for the best of the best from our members to join our Premier Master Enabler Program. Focusing right now on International Expansion and New Market Entry professionals for Europe, Latin America, and the USA. Interested in learning more message Master Connector here or email - masterenabler@fintechconnector.com
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Master C.
Aug 9, 2022
Meet our FinTech Connector Switzerland Cruise sponsors on September 9th in Zurich.
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
Lloyd's & Partners (VIP Gold Sponsor) and VISA Europe (Premier Sponsor).
We want to thank Lucas T. Landolt (Lloyd's & Partners), Adrian Burgi (Lloyd's & Partners) and Santosh Ritter (VISA) for your support and we look forward to meeting you in Zurich.
There is still time to RSVP for our premier event of the year - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
Thank you Fabian Lehner for organizing this event for our FinTech Connector members and partners.
#FinTechConnector #Switzerland #Zurich #Event
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Master C.
Jun 17, 2022
As the global economic environment is shifting, now more than ever partnering with the right organizations to increase business opportunities, focus on revenue growth, and drive innovation is critically important.
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
We can help you on your fintech and innovation journey.
Click on the link to learn more and let's jump on a call to discuss your business objective - https://www.fintechconnector.com/organizations
#FinTechConnector #Innovation #Partnerships #BusinessDevelopment
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Stephen W.
Mar 18, 2022
See our recent WealthTech 2022 report for a range of viewpoints and thinking on the main trends for WealthTech in 2021/2022.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
https://www.thewealthmosaic.com/vendors/the-wealth-mosaic/news/wealthtech-2022-is-live/
This is one of an expanding number of reports we've created at The Wealth Mosaic on technology in wealth management. Next up is our second ESG report, then our second Blockchain & DLT report, then our first US RIA WealthTech report.
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Angel L.
Jan 11, 2023
I wrote an article that highlights the opportunities and challenges of digital transformation in banking and covers points on having a well-thought-out plan, organizational culture, and how to get started with partners that have done it already.
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
Sharing with our Financial Service Automators - Vikas Bansal Erik Gillet Darrell Wright Luisa Franco Batu Sat Simon Weifenbach Les Riedl Andy Lin Jenna Chamra Craig Schwartz Robert Lacoursière Michael Montecuollo Jonathan Blessing Christin Nagel Shweta Mahajan Michael Young Martina Rousseau Ridham Modi Trena Blair Jen Gonzalez Carlos M. Mendes
Click to read the article - https://www.fintechconnector.com/blog-actual/2023/1/9/innovating-banks-start-with-a-digital-transformation-plan
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Luisa F.
Mar 7, 2024
Hello Fintech Connector Community! I have a bank client looking for fintechs that are interested in bank sponsorship. If you're in the market for a bank sponsor, please message me.
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Master C.
May 13, 2022
SWITZERLAND IS CALLING ALL FINTECH CONNECTOR MEMBERS...
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
Join us in Zurich in September for a networking lunch cruise around Lake Zurich.
RSVP today and meet members from over 10+ countries in one of the most beautiful cities in Europe.
Here is the link - https://www.eventbrite.com/e/fintech-connector-switzerland-networking-lunch-cruise-vip-dinner-registration-239437362597
#FinTechConnector #Community #Zurich #Events
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Angel L.
Apr 17, 2022
Another powerful report from FIS on global payments. This is a 156-report that gives you global payments trends, key insights, and other important ecosystem information.
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
The payments space continues to evolve with super apps, CBDCs, embedded finance, evolution of real-time payments, banking the unbanked, and more...
Check out the report and use it as a reference guide for what's happening and what's coming in payments.
I want to thank Ahmed Refaie Abdo from DSRPTD in the UAE for sharing it with me.
What are your thoughts? Steven Wasserman, Mario Cohen, Jaroslaw Sarwa, Angel Lorente, Carlos M. Mendes , Fabian Lehner , Elena Kozhemyakina , Jaroslaw Sarwa , Adam Ull , Sefa Bicer , Shafique Ibrahim
#fintechconnector #fintech #financialservices #innovation #payments #CBDC #cryptocurrency
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Master C.
Oct 5, 2022
Great seeing our Mexico Community Partner Sofia Gamboa on El Financiero Factor Fintec speaking with Sergio Loredo about fintech in Mexico.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
Watch the interview here - https://www.elfinanciero.com.mx/video/tv/factor-fintech/2022/10/01/entrevista-con-sofia-gamboa-de-fintech-connector-por-sergio-loredo-factor-fintec-4-t4/
NOTE: The interview is in Spanish.
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Angel L.
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Great to see how we have come a long way since our Meet Ups at Hurley's in NYC to now travelling the world to connect people, opportunities, and capital. Looking forward to our 2023 FinTech Connector events being announced shortly.
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
Hope to have many of our members joining us on our Innovation Days, Cruises, and VIP Member Dinners.
Thanks to our Community Partners Fabian Lehner Jaroslaw Sarwa Elena Kozhemyakina Shmuel Ben Tovim Mario Cohen Narayanan Ganapathy Meriem Yacoubi Varsenia Stoyanova Aleksandra Ossowska Alfonso Ballesteros Ryohei Uetani Sofia Gamboa Vikas Bansal Shaul Lifshitz
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