This week’s roundup will feature titles on blockchain technology, stablecoin settlements, and anti-money laundering standards. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.
- The London Stock Exchange is creating plans for a digital marketplace that will be built on blockchain technology. [source: Fintech Alliance]
By building the marketplace with blockchain technology, the marketplace will function on a process that is smoother, more transparent and has the potential to be regulated which will offer users a safer way to shop. Buying, selling and holding of assets will be more efficient in the blockchain-powered trading venture. The London Stock Exchange facilitating ownership of asset tokenisation will boost liquidity and open up access to assets that were once deemed as illiquid, irrespective of the fact that the marketplace will not be using cryptocurrency. – Jovi
- Visa is expanding its stablecoin settlement capabilities to merchant acquirers. [source: Financial Post]
Visa has been working with issuers on stablecoins since 2021, and now that it is looking into settlement options, it will expand its capabilities to be able to send funds to acquirers which will in turn help speed up settlement time for its merchants. – Jovi
- Switzerland Government to impose highest anti-money laundering standards in Europe. [source: Finextra]
The new AML standards will bring a higher level of accountability to lawyers, consultants and banks. New regulations will remedy oversight of legal entities which were previously omitted, and bring a space for reporting, scrutinising and greater control over risks. This will position Switzerland in a positive light, with organisations being regulated and held to high standards of operations. However, this is dependent on whether the new standards are enforced consistently. – Jovi
See you next week, back in the blog for your next weekly news roundup.