The latest headlines on the impact of technology on the wealth management industry.
Fintech News
JPMorgan to Use Cryptocurrency for Corporate-Payments Business
JPMorgan Chase & Co. successfully tested a cryptocurrency it plans to use in trials for clients of its wholesale-payments business.
Crypto Carnage Puts Bitcoin Tracker’s Plan for Basket on Hold
The creator of the first exchange traded Bitcoin tracker has called a halt on launching a basket of cryptocurrencies to trade on after splits in the blockchain caused uncertainty over what to include.
Silicon Valley Bros Build Billion Dollar Cyber-Security Fortunes
Cyber-security has unlocked riches for Ken and Michael Xie.
The Chinese-born brothers are now billionaires from their stakes in Fortinet Inc., the Silicon Valley-based network security software firm they co-founded almost two decades ago, according to the Bloomberg Billionaires Index.
Fidelity Is Said to Plan March Launch of Bitcoin Custody Service
Fidelity Investments is targeting a March launch date for its Bitcoin custody service, according to three people with knowledge of the matter, as the mutual-fund giant moves forward with a plan that could help ease fears of trading cryptocurrencies.
JPMorgan Says Blockchain Is Making Progress Outside of Crypto
It may take a few years for blockchain’s impact to be felt meaningfully, but it will provide some advancements in certain areas even as cryptocurrencies falter, according to JPMorgan Chase & Co.
Bitcoin Drops to Lowest in a Month as 2018’s Agony Keeps Going
Bitcoin’s painful 2018 crash continues, with the original cryptocurrency touching the lowest in more than a month on Monday.
Tech Optimism at Davos Tempered by Trade Anxiety and Regulation
Tech companies are back pitching the promise of innovation, but this time, stuck in the middle of a trade war, they’re welcoming government oversight.
Cboe Bitcoin ETF Application Pulled Following SEC’s Delays
Cboe Global Markets Inc. pulled its application to list the first Bitcoin exchange-traded fund after the U.S. Securities and Exchange Commission repeatedly delayed a decision on approving the product.
Nasdaq, Citi Join Novogratz in Funding Blockchain Firm Symbiont
Nasdaq Inc. and Citigroup Inc. are among firms that are investing $20 million in Symbiont.io Inc., a New York-based company that’s applying blockchain technology to capital markets.
Coinbase Makes Push in Asia With Crypto Institutional Services
Coinbase Inc. is turning to Asia a little more than six months after making a big push to become the go-to trading platform for Wall Street when it comes to all things related to digital currencies.
MIT, Stanford Academics Design Cryptocurrency to Better Bitcoin
Some of the brightest minds in America are pooling their brain power to create a cryptocurrency that’s designed to do what Bitcoin has proved incapable of: processing thousands of transactions a second.