Nassim Eddequiouaq’s Post

➡️ What is the role of #stablecoins in the global payments system? #Coinbase recently published a research report "Stablecoins and the New Payments Landscape" on this. topic ✅Market Size and Growth: In 2023, stablecoins facilitated transactions worth $10.8 trillion, with $2.3 trillion attributed to organic activities like payments and remittances, showcasing a 17% year-over-year growth in this sector. Disruption Potential: Stablecoins have the potential to significantly disrupt the traditional payments industry, challenging incumbents by offering lower transaction costs, faster settlement times, and enhanced transparency. ✅Cost Efficiency: While traditional remittance services average a global cost of 6.35% per $200 transfer, stablecoins can reduce these costs to between 0.5% and 3.0%, potentially lowering them further as technology evolves. Regulatory Landscape: The stablecoin market is gaining regulatory traction, particularly in Europe under the Markets in Crypto-Assets Regulation (MiCA). The U.S. is also developing its own stablecoin regulatory framework, with significant ongoing legislative efforts. ✅Competitive Pressure on Incumbents: Traditional payment giants like Visa and Mastercard are facing increasing competition from stablecoins, which are beginning to offer comparable transaction volumes, particularly in cross-border payments. ✅Adoption by Financial Institutions: Major financial institutions, including Deutsche Bank and Societe Generale, are integrating stablecoins into their operations, reflecting growing confidence in their utility and regulatory compliance. ✅Technological Advantages: Stablecoins, operating on public blockchains, offer near-instant settlement, reduced fraud risk, and transparent processes, positioning them as a superior alternative to traditional bank transfers for many transactions. ✅User Experience Challenges: Despite their advantages, stablecoins face hurdles related to user experience, including complexity and fragmented liquidity across different blockchains, which need to be addressed for broader adoption. ✅Future Growth Projections: The stablecoin market is expected to grow significantly, with projections indicating a potential market cap of $3 trillion within the next five years, underscoring their increasing role in the global financial system. ✅Strategic Partnerships: Key players in the payments industry, such as Coinbase, Stripe, Visa, and PayPal, are forming partnerships to integrate stablecoins into their services, further solidifying their place in the payments ecosystem. https://lnkd.in/gVh5MRtj

Decoding the Language of Financial Innovation #FinTech #FinancialLiteracy #FutureofFinance The world of FinTech thrives on innovation, and navigating its terminology can feel like deciphering a secret code. But worry not, this guide unveils the essential terms and abbreviations you need to understand the various components that power FinTech solutions. Financial Payments Systems: Payment Aggregator (PA): A digital middleman that consolidates multiple payment methods (credit cards, e-wallets) for merchants, simplifying online payments. API (Application Programming Interface): The middleman that allows different financial applications to talk to each other, enabling seamless money transfers and integrated financial services. ACH (Automated Clearing House): A network for electronic funds transfer between banks in the United States. It facilitates direct deposits, bill payments, and other electronic transactions. PCI DSS (Payment Card Industry Data Security Standard): A set of security standards designed to ensure the safe handling of credit card information. Smart Contracts Related Components: Blockchain: A distributed ledger technology that records transactions on a secure, tamper-proof network. Smart contracts reside on blockchains. Smart Contract: A self-executing contract written in code that automatically carries out its terms when predetermined conditions are met. DApp (Decentralized Application): An application built on a blockchain that operates without a central authority. Cryptocurrency: A digital form of currency secured by cryptography that operates independently of central banks. Often used within smart contracts. E-signature Related Components: Digital Signature: An electronic equivalent of a handwritten signature that verifies the authenticity of a document and the signer's identity. PKI (Public Key Infrastructure): A system for managing digital certificates used for secure electronic signatures and encryption. E-Sign Act (Electronic Signatures in Global and National Commerce Act): A U.S. law that grants legal validity to electronic signatures. Additional FinTech Terms: RegTech: Regulatory technology that uses automation and data analysis to streamline compliance processes for financial institutions. InsurTech: The use of technology to improve the delivery of insurance products and services. P2P Lending (Peer-to-Peer Lending): A form of lending that connects borrowers and lenders directly without a traditional financial institution acting as an intermediary. Robo-advisor: An automated investment platform that provides investment advice and portfolio management services based on algorithms. Understanding these terms empowers us to participate in conversations about financial innovation and unlocks the potential of FinTech in your life. evolves, expect new terms to emerge and existing ones to take on new meanings. Stay curious, keep learning, and unlock the exciting world of financial technology!

Ripple, the brainchild of Jed McCaleb and Chris Larsen, emerged in 2012 with a bold mission: to overhaul cross-border payments, a realm fraught with inefficiencies and high costs. Fast forward to today, and Ripple stands tall as a global fintech leader, offering innovative payment solutions that empower both financial institutions and individuals alike.At the heart of Ripple's success lies RippleNet, a distributed ledger network designed to facilitate seamless cross-border transactions in mere seconds, at significantly reduced fees compared to traditional methods. This network acts as a bridge, linking banks and financial institutions worldwide, enabling them to send and receive funds swiftly and securely. Central to RippleNet's functionality is XRP, a digital asset used for on-demand liquidity, ensuring rapid and cost-effective settlements without the need for pre-funding.Ripple's strategic framework is built on several pillars. Firstly, they focus on addressing the needs of underserved banks and financial institutions, offering them a user-friendly and cost-effective alternative for international payments. Secondly, Ripple emphasizes collaboration, actively partnering with financial institutions and regulators to build trust and foster a more inclusive ecosystem. Lastly, RippleNet boasts cutting-edge technology, incorporating advanced cryptography, consensus algorithms, and fraud prevention mechanisms to ensure the security and integrity of transactions.However, Ripple faces its fair share of challenges. The evolving regulatory landscape in the crypto space poses hurdles for adoption and scalability. Additionally, market volatility, inherent to digital assets like XRP, can deter some institutions from embracing the technology. Moreover, competition from established financial players and emerging blockchain solutions requires Ripple to constantly innovate.Nevertheless, Ripple remains undeterred. Their roadmap for the future is ambitious, focusing on expanding partnerships, enhancing technology, and championing regulatory clarity. By onboard more financial institutions and central banks, Ripple aims to solidify its network's reach and global impact. Continuous development of RippleNet and XRP aims to improve transaction speeds, scalability, and security, ensuring they stay ahead in the ever-evolving fintech landscape. Additionally, Ripple actively engages with policymakers to advocate for clear and practical regulations that foster responsible innovation in the crypto space.In conclusion, Ripple stands as a trailblazer in redefining global payments. Through harnessing blockchain technology, they've created a platform with the potential to revolutionize cross-border transactions. As they navigate challenges and seize opportunities, Ripple's future holds promise, paving the way for a more efficient, transparent, and inclusive global financial system. #newagebusinesses ATLAS SkillTech University ISDI Mumbai Dr. Tapish Panwar Jed McCaleb

Old ideas in new clothes - Are banks in any way still "special”? If the board and senior management of large financial institutions do not take notice of developments within the payments industry, their conceit will carry a high price for those financial institutions. We don’t need innovation, we need evolution - Banks and fintech’s should not be adversaries but partners in progress. Banks provide the infrastructure, data and trust, while fintech’s bring innovation and agility. EVOLUTION – remember that Facebook wasn’t the first social network, Instagram not the first to share photos, Google not the first search engine, Windows was not the first operating system. EVOLUTION - Warfarin was introduced in 1948 as a rat poison, but then was identified as helpful to those with blood clots or at risk of strokes. In 1992, it was used with a drug called Sildenafil to treat angina. It was then that an interesting side effect was noticed and it was then marketed as Viagra. Traditional banks and Fintechs might at first glance, seem like opposing forces, but in reality, they are more complementary than you might think. So, how do these two worlds come together? For instance, many traditional banks are adopting open banking APIs, which allow fintech companies such as Starling Bank to build on top of their platforms. This collaboration enables seamless integration of new services like budgeting tools, personalised financial advice, and instant loan approvals, all within the secure environment that banks provide. Some banks are already exploring the use of blockchain for cross-border payments. Crypto businesses still need traditional international transfers, which can take days and involve multiple intermediaries, to convert crypto to fiat. Blockchain can streamline this process, by integrating blockchain technology, banks can enhance their existing systems, making them faster and more efficient. Another example is the use of Stablecoins—cryptocurrencies pegged to traditional currencies. These can be used by banks to facilitate smoother transactions in digital and international markets, maintaining the stability of fiat currencies while leveraging the advantages of digital currency. I believe that collaboration is key. Banks have the experience and regulatory know-how, while fintech and crypto firms bring fresh perspectives and technological advancements. Together, they can create a more inclusive and efficient financial ecosystem. I will admit, the technology used by banks is in some cases, outdated; but it is evolving. By embracing fintech innovations and examining the potential of cryptocurrencies, banks could enhance their services, reach new customers, and stay relevant in an ever-changing financial landscape. Forget the story of old versus new, consider the opportunities of collaboration and progress. #collaboration #fintech #financialinstitutions

TheFinRate - Rating Service Provider for Global Financial Businesses - Transak🔥🔥. Transak: Revolutionizing Fiat-to-Crypto Transactions Worldwide💯 Exciting developments are underway in the realm of cryptocurrencies, and at the forefront of this revolution stands Transak. If you haven't yet encountered this innovative platform, you're in for a treat. Transak is not just another cryptocurrency gateway; it's a game-changer in the way we engage with digital assets. Unlocking Accessibility One of the standout features of Transak is its commitment to accessibility. With support for over 170 cryptocurrencies across more than 75 blockchains, it's a one-stop destination for users looking to navigate the diverse landscape of digital currencies. Whether you're a seasoned crypto investor or just dipping your toes into the world of blockchain technology, Transak's user-friendly interface and comprehensive support ensure a seamless experience for all.✅ Global Reach Transak isn't bound by geographical limitations. Operating in 169 countries, it transcends borders to empower users worldwide. No matter where you are on the map, Transak is there to facilitate your fiat-to-crypto transactions. This global availability opens up new avenues for financial inclusion and economic empowerment, fostering a truly interconnected digital economy.😍 Diverse Payment Methods Flexibility is key when it comes to financial transactions, and Transak understands this implicitly. Offering multiple payment methods, including bank transfers, credit/debit cards, and popular payment platforms, it caters to diverse user preferences. Whether you prefer traditional banking channels or embrace the convenience of digital wallets, Transak has you covered.🔥 Security and Compliance In the ever-evolving landscape of cryptocurrencies, security is paramount. Transak prioritizes the safety of its users' assets with robust security measures and adherence to regulatory standards. By implementing industry best practices and partnering with trusted financial authorities, Transak provides a secure and compliant environment for all transactions, instilling confidence in users and stakeholders alike.👍 Explore More Curious to learn more about Transak and its groundbreaking solutions? Visit the official website here to dive deeper into the world of fiat-to-crypto transactions. Stay updated on the latest developments, explore the extensive range of supported cryptocurrencies, and experience the future of digital finance firsthand.🙌 Website: transak.com Mail: support@transak.com Follow TheFinRate - Rating Service Provider for Global Financial Businesses- for the latest updates l✌️ Join TheFinRate - Rating Service Provider for Global Financial Businesses - Today: https://thefinrate.com. transak.com

Fintech Rundown: A Rapid Review of Weekly News As we enter into the last few days of July, there’s a lot to think about. The days are slowly getting shorter, but the list of tasks needed to complete 2024 objectives by the end of the year isn’t shrinking. Fintech news is set to pick up its pace as summer slows down, and we’ll be here to cover it. Stay tuned throughout the week to read the latest news this week as we post updates and evolutions. Payments Marqeta becomes certified to enable Visa flexible credential. Billie integrates with Stripe, making the B2B BNPL solution available in Europe. Spendbase partners with Thredd to shake up subscription management in the U.S. Crypto and DeFi Ledger launches Ledger Flex, a mid-range hardware crypto wallet. Small business finance Sage partners with Stripe to help SMBs control their cashflow. Photo by Andrea Piacquadio The post Fintech Rundown: A Rapid Review of Weekly News appeared first on Finovate. https://lnkd.in/eSvWbsqr via Finovate https://finovate.com/ July 29, 2024 at 10:06AM

TheFinRate - Rating Service Provider for Global Financial Businesses- Transak.😍 Transak: Revolutionizing Fiat-to-Crypto Transactions Worldwide🔥 Exciting developments are underway in the realm of cryptocurrencies, and at the forefront of this revolution stands Transak. If you haven't yet encountered this innovative platform, you're in for a treat. Transak is not just another cryptocurrency gateway; it's a game-changer in the way we engage with digital assets.💯 Unlocking Accessibility One of the standout features of Transak is its commitment to accessibility. With support for over 170 cryptocurrencies across more than 75 blockchains, it's a one-stop destination for users looking to navigate the diverse landscape of digital currencies. Whether you're a seasoned crypto investor or just dipping your toes into the world of blockchain technology, Transak's user-friendly interface and comprehensive support ensure a seamless experience for all.😍 Global Reach Transak isn't bound by geographical limitations. Operating in 169 countries, it transcends borders to empower users worldwide. No matter where you are on the map, Transak is there to facilitate your fiat-to-crypto transactions. This global availability opens up new avenues for financial inclusion and economic empowerment, fostering a truly interconnected digital economy.🔥 Diverse Payment Methods Flexibility is key when it comes to financial transactions, and Transak understands this implicitly. Offering multiple payment methods, including bank transfers, credit/debit cards, and popular payment platforms, it caters to diverse user preferences. Whether you prefer traditional banking channels or embrace the convenience of digital wallets, Transak has you covered.💯 Security and Compliance In the ever-evolving landscape of cryptocurrencies, security is paramount. Transak prioritizes the safety of its users' assets with robust security measures and adherence to regulatory standards. By implementing industry best practices and partnering with trusted financial authorities, Transak provides a secure and compliant environment for all transactions, instilling confidence in users and stakeholders alike.🙌 Explore More Curious to learn more about Transak and its groundbreaking solutions? Visit the official website here to dive deeper into the world of fiat-to-crypto transactions. Stay updated on the latest developments, explore the extensive range of supported cryptocurrencies, and experience the future of digital finance firsthand.✌️ Website: transak.com Mail: support@transak.com Follow TheFinRate - Rating Service Provider for Global Financial Businesses - for the latest updates l✌️ Join TheFinRate - Rating Service Provider for Global Financial Businesses - Today: https://thefinrate.com. transak.com

Fintech Rising Weekly: Global Consolidation and Expansion The theme in the fintech landscape this week – at least for those not focused on the cryptocurrency rebound – is the consolidation of strength and expansion of influence. From FIS returning to its banking roots post-Worldpay to Apple tightening its control over payment systems with Tencent and a partnership with Goldman Sachs, these companies are navigating an increasingly competitive market by reinforcing their core offerings while exploring new growth opportunities. Apple’s Strategic Maneuvering in Fintech: Tightening Control, Expanding Revenue, and Partnering with Goldman Sachs Apple is making decisive moves to strengthen its position in the global payments landscape, particularly in regions where mobile payments dominate. One key initiative involves closing payment loopholes with Tencent, which underscores Apple’s growing influence in the Chinese market. By addressing these vulnerabilities, Apple not only enhances security but also reinforces its strategic control over its payment ecosystem, ensuring that it remains a dominant player in mobile transactions. In addition to securing its payment systems, Apple is seeing substantial revenue growth from its services sector, including payments. This surge in revenue reflects Apple’s successful strategy to diversify beyond hardware and build a robust ecosystem that includes financial services. As payments and other services become more significant contributors to the company’s overall revenue, Apple is solidifying its foothold in the financial services industry, leveraging its vast and loyal user base. Read the full article for more payments-growth reports>> https://lnkd.in/ghUnumgg

Last year, I left my role as the CEO of Coinbase Custody to start a new company. Together with João Peixoto and Gabe Grazier G'Sell, we are building Dakota – modern, crypto-native banking for businesses. Banking has failed to keep up with the speed of the internet. Transactions take days, they offer little to no yield, and banks can deny service without notice. Even worse, you no longer control your assets once deposited—they become liabilities on the bank's balance sheet. Meaning if things go wrong, your best hope is a bailout. But that’s about to change. With U.S. Treasuries onchain, improved crypto infrastructure, and the rise of global payment networks, we can now set a new banking standard. Dakota offers a fully-owned bank account accessible from anywhere. With Dakota, you can: 1. Send and receive USD globally 2. Deposits backed by U.S. Treasuries 3. Generate yield automatically 4. Get bank-grade security 5. Manage your crypto: stake, swap, or lend–all from one platform Our founding team comes from leading large crypto custodians like Anchorage and Coinbase, and fintech giants like Square and Airbnb. We’re using this experience to blend the best of fintech and crypto to deliver a new banking experience. Dakota will be open to everyone soon. For now, request access at dakota.xyz and stay updated as we bring Dakota to the world.