Are Cryptocurrencies a bank´s business? Oh Yes!
The recent open letter published by the OCC is nothing less than a door opener for Banks into the world of cryptoassets/-currencies. Now any national bank can hold onto the unique cryptographic keys for a cryptocurrency wallet, clearing the way for national banks to hold digital assets for their clients. With this regulatory gap now closed and banks as intermediaries trusted by investors being able to move into the cryptosphere, a massive inflow of investment into this market is likely to be expected. However, given this banking revolution, banks now need a new type of infrastructure. They must be able to hold, store, or transmit cryptographic assets that are being kept, managed, and secured for others. And this is where Fintechs come into play! FinTechs, like the silicon-valley based Vesto descirbed in the article, have moved beyond just offering custodial services to supporting a complete end-to-end crypto banking-as-a-service platform.
The implosion of a Fintech superstar – the case of the German wirecard
The implosion of a Fintech Superstar – the current case of German wirecard By Prof. Dr. Carsten Bartsch, Germany Managing Partner of DB&P The past two weeks have seen incredible events – both for the German stock market as well as for the German…