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JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business

February 17th, 2019 at 1:22 pm » Comments Off

JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business Engineers at the lender have created the “JPM Coin,” a digital token that will be used to instantly settle transactions between clients of its wholesale payments business. Only a tiny fraction of payments will initially be transmitted using the cryptocurrency, but […]



Banking’s worst nightmare is here

January 21st, 2019 at 12:14 pm » Comments Off

We’ve seen enough. We’re going BIG on the death of big banking. If you’ve ever had to spend time at a bank opening a simple checking account, or even worse—closing a bank account—you won’t be surprised to hear that Americans are abandoning traditional branch banking by the millions. Even bank executives concede the massive shift […]



US Secret Service is probing how crooks use smart credit cards for fraud

January 18th, 2019 at 1:10 pm » Comments Off

Credit card thieves have been using Fuze Cards, according to a Secret Service memo. Credit card thieves have been taking advantage of smart card technologies to avoid getting caught, according to Krebs on Security. The US Secret Service offices in New York and St. Louis have apparently been working on a criminal investigation involving fraud […]



At least 15 central banks are serious about getting into digital currency

December 26th, 2018 at 12:01 pm » Comments Off

Digital cash may soon start replacing the physical kind. The market for digital currency is down, but it’s certainly not out. Even if private cryptocurrencies are falling in popularity, it appears likely we are headed toward an era of national digital currencies that are backed by central banks. Central banks are the institutions that set […]



Update: Petal’s no-fee credit card for the credit score-less is now open to the public

October 11th, 2018 at 1:42 am » Comments Off

Petal, the startup credit card company that’s offering a no-fee credit line to people without a credit history, is now publicly available. Launched earlier this year by co-founders Jason Gross, Andrew Endicott, David Ehrich, and Jack Arenas, Petal has received a $34 million credit facility from Jeffries and Silicon Valley Bank to bring its consumer […]



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