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Vanguard targets the $6 trillion currency market with a new blockchain platform Vanguard Group is testing a new FX trading platform based on blockchain technology to break banks' grip on the $6 trillion currency market.
The peer-to-peer platform will enable asset managers to trade currencies with one another directly, bypassing the need for investment banks.
Vanguard's long history of innovation makes its latest venture a genuine threat to the status quo — one that would mark a major milestone in blockchain's nascent and thus far turbulent history.
Business Insider Intelligence's Mekebeb Tesfaye has the full story.
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| | | Volkswagen Group is in discussions with other automakers to potentially share the electric vehicle technology it used in upcoming Porsche and Audi EVs. Read More → |
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| | | HSBC is facing the possibility of up to 10,000 job cuts as it undertakes a cost-cutting strategy – investing in digital tools could help to ensure these cuts don't affect the quality of the customer experience. Read More → |
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| | | Google is reportedly considering an acquisition of TikTok-like "Firework," an app that allows users to make and share 30-second videos with strangers. Buying Firework would launch Google back into the social space. Read More → |
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| | | Due to concerns over its e-commerce business' profitability, Walmart is selling digital native brand ModCloth and is exploring spinning off Jetblack. Read More → |
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| | | Devoted Health will offer its Medicare Advantage members a $150 reimbursement toward the purchase of an Apple Watch. Inking this deal should help Apple capitalize on the senior-focused health features it's been building out. Read More → |
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| | | Robinhood has announced its new Cash Management feature, which enables users to earn a monthly interest rate of 2.05% on their money. The news comes after the company's botched attempt to launch a similar service last year. Read More → |
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| | | US-based insurtech Next Insurance secured a $250 million Series C funding round. German reinsurance giant Munich Re was the sole investor in the round, increasing its stake in the three-year-old startup to 27.5%. Read More → |
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| | | Since Samsung consolidated its low- to midtier smartphones under its Galaxy A series umbrella, favorable trends have helped drive success in the segment. Read More → |
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| | | Fidelity Investments has become the latest incumbent brokerage firm in the US to slash trading fees. Fidelity has dropped commission fees for online purchasing and selling of US stocks, exchange-traded funds, and options. Read More → |
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| | | Amazon is making it easier for developers to improve the quality and accuracy of their Alexa experiences with two new tools for the Alexa Skills Kit. Read More → |
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| | | A convergence of technological and consumer behavioral forces is pushing cloud gaming to move the needle in the gaming industry, something it's failed to do in the past decade. A number of cloud service providers and telecommunications companies are revealing plans to enter the cloud gaming fray by launching their own services. This report sizes the cloud gaming opportunity and examines the various drivers and barriers, and identifies the most noteworthy big tech companies and telecoms poised to dominate the space. Learn More → |
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| | | Neobanks, digital-only banks that aren’t saddled by traditional banking technology and costly networks of physical branches, have been working to redefine retail banking in major markets around the world. This report maps out the factors contributing to this shifting tide, examines how key players are positioning themselves to take advantage, and explores how incumbents can embark on their own digital transformations to stave off disruption. Learn More → |
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| | | The POS financing space has seen a wave of fintechs emerge in recent years that each count thousands of popular retail partners, giving them access to millions of shoppers. In response, legacy banks and store card providers have stepped up their offerings to mitigate the threat of being undercut by POS financing services. This report explores the drivers of the POS financing trend in the US, as well as the different approaches that providers are taking to scale their respective offerings. Learn More → |
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US users are struggling to trust mobile wallets. | | |
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Incumbents feel more threatened by fintechs capturing a niche than by those with full-fledged banking offerings. | | |
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YouTube passed Netflix for the first time among US teens — reflecting shifting habits among younger generations. | | |
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