5 trends for #France in 2019. Including the Postal service's new digital bank #mafrenchbank (article in FR) https://t.co/jhxCtknhYg

5 trends for #France in 2019. Including the Postal service's new digital bank #mafrenchbank (article in FR) https://t.co/jhxCtknhYg

— Hans Hagen (@hanhagen1) December 21, 2018

from Twitter https://twitter.com/hanhagen1

#DNB and #Danske keen supporters of #SPIIR PSD2 API gateway. https://t.co/yjDBzw5XCP

#DNB and #Danske keen supporters of #SPIIR PSD2 API gateway. https://t.co/yjDBzw5XCP

— Hans Hagen (@hanhagen1) December 20, 2018

from Twitter https://twitter.com/hanhagen1

#Monobank attacks #UK market in 2019 https://t.co/SDalWiXUCZ

#Monobank attacks #UK market in 2019 https://t.co/SDalWiXUCZ

— Hans Hagen (@hanhagen1) December 19, 2018

from Twitter https://twitter.com/hanhagen1

#Revolut becomes a bank operating x-border leveraging its Lithuanian banking license https://t.co/dv7oT4cUiI

#Revolut becomes a bank operating x-border leveraging its Lithuanian banking license https://t.co/dv7oT4cUiI

— Hans Hagen (@hanhagen1) December 13, 2018

from Twitter https://twitter.com/hanhagen1

Tricky year for travel group #ThomasCook https://t.co/EFzBxJ7k2F

Tricky year for travel group #ThomasCook https://t.co/EFzBxJ7k2F

— Hans Hagen (@hanhagen1) December 13, 2018

from Twitter https://twitter.com/hanhagen1

#HSBC annouces shareholding above 5% threshold in #Ferratum (#FRU) https://t.co/zMduk4IGHM

#HSBC annouces shareholding above 5% threshold in #Ferratum (#FRU) https://t.co/zMduk4IGHM

— Hans Hagen (@hanhagen1) November 21, 2018

from Twitter https://twitter.com/hanhagen1

Norway building #sandbox for #fintechs (article in Norwegian) https://t.co/G0IqNxSL4s

Norway building #sandbox for #fintechs (article in Norwegian) https://t.co/G0IqNxSL4s

— Hans Hagen (@hanhagen1) November 14, 2018

from Twitter https://twitter.com/hanhagen1

#Neobank #Nickel experiencing growth pains and tech migration issues. Onboarding 30.000 customer per month https://t.co/jJbThIRVnm

#Neobank #Nickel experiencing growth pains and tech migration issues. Onboarding 30.000 customer per month https://t.co/jJbThIRVnm

— Hans Hagen (@hanhagen1) November 13, 2018

from Twitter https://twitter.com/hanhagen1

#ING account aggregator #Yolt enters France. (Article in French) https://t.co/7iSoaMZ82u

#ING account aggregator #Yolt enters France. (Article in French) https://t.co/7iSoaMZ82u

— Hans Hagen (@hanhagen1) November 13, 2018

from Twitter https://twitter.com/hanhagen1

How banks respond to #fintech threat. https://t.co/lyQ5DyfwGe

How banks respond to #fintech threat. https://t.co/lyQ5DyfwGe

— Hans Hagen (@hanhagen1) November 12, 2018

from Twitter https://twitter.com/hanhagen1

#Markus by #GoldmanSachs making good progress to attract new customers. https://t.co/vqtU4xDFqN

#Markus by #GoldmanSachs making good progress to attract new customers. https://t.co/vqtU4xDFqN

— Hans Hagen (@hanhagen1) November 5, 2018

from Twitter https://twitter.com/hanhagen1

#PIPIT on a mission to digitize cash after successful funding round. https://t.co/ejgiuGU7mc

#PIPIT on a mission to digitize cash after successful funding round. https://t.co/ejgiuGU7mc

— Hans Hagen (@hanhagen1) November 5, 2018

from Twitter https://twitter.com/hanhagen1

A great read. And you don't have to be a #millenial to agree with the principles put forward here. https://t.co/FTUMRsSMDn

A great read. And you don't have to be a #millenial to agree with the principles put forward here. https://t.co/FTUMRsSMDn

— Hans Hagen (@hanhagen1) October 31, 2018

from Twitter https://twitter.com/hanhagen1

#GooglePay launches in my home country #Norway! :-) https://t.co/ZMAU7R6ogl

#GooglePay launches in my home country #Norway! :-) https://t.co/ZMAU7R6ogl

— Hans Hagen (@hanhagen1) October 31, 2018

from Twitter https://twitter.com/hanhagen1

#Neobank #Qonto for SMEs and entrepreneurs raises 20M for European expansion. https://t.co/9KOyC6VVkV

#Neobank #Qonto for SMEs and entrepreneurs raises 20M for European expansion. https://t.co/9KOyC6VVkV

— Hans Hagen (@hanhagen1) October 16, 2018

from Twitter https://twitter.com/hanhagen1

#Waze from driving directions to #carpooling. Launches in the US. https://t.co/xTCNutPyEE

#Waze from driving directions to #carpooling. Launches in the US. https://t.co/xTCNutPyEE

— Hans Hagen (@hanhagen1) October 16, 2018

from Twitter https://twitter.com/hanhagen1

#H&M takes stake in #Klarna for its checkout financing solution. https://t.co/vzRDaiQht9

#H&M takes stake in #Klarna for its checkout financing solution. https://t.co/vzRDaiQht9

— Hans Hagen (@hanhagen1) October 10, 2018

from Twitter https://twitter.com/hanhagen1

#H&M takes stake in payment company #Klarna

Fashion retailer H&M is investing $20 million in Sweden-based online checkout solution provider Klarna. For context, Klarna offers installment-like online financing options, called Klarna Checkout, giving customers 30 days to pay for their purchases. Klarna Checkout Business Insider Intelligence Through the partnership, Klarna will power the H&M Club payment program — the retailer's digital loyalty program — and be offered as a payment option in-store or on the retailer's website and mobile channel. Klarna's solution will be deployed throughout 14 H&M markets starting in 2019, beginning with the UK and Sweden. This investment could accelerate Klarna's expansion in two key ways: It builds on Klarna's moves to expand globally. Klarna — which accounts for 10% of all e-commerce in Northern Europe — has been working on its global expansion efforts. The firm moved into the US in 2014, and counts over 60 million customers and 100,000 merchant clients globally. And most recently, Klarna announced plans to acquire UK-based Close Brothers Retail Finance, an omnichannel retail financing provider. This new partnership can accelerate Klarna's expansion play and give it insights into which markets are ripest to fully launch its solution in the future. And it can propel awareness of the firm's offerings, furthering its other business efforts. When the partnership takes effect, it will give Klarna immediate access to H&M's network of 4,700 stores throughout 14 geographies. Having an in-store presence can be a streamlined way for Klarna to not only increase volume but also push consumer awareness of its services. And if the partnership proves to be successful in driving sales for H&M, it can attract other retailers that might want to offer flexible payment solutions. That awareness among consumers and retailers can also help propel Klarna's other efforts going forward — Klarna is preparing to launch its first banking product, a payment card that offers detailed statements, delivery tracking, and customer service, for example. The partnership can allow Klarna to continue growing alongside demand for installment payments.Increased consumer awareness and the number of consumers who prioritize budgeting are driving the popularity of point-of-sale (POS) financing for a wider variety of purchases. Half of customers would prefer an installment loan over other payment types for purchases under $250, according to an Affirm study, which could indicate consumer willingness to try Klarna in-store for lower value purchases. And more firms are developing their own solutions as they recognize the customer preference for installment options — Square recently rolled out an installment offering for its sellers, for example. Forming partnerships and making acquisitions is an effective way for Klarna to access merchants in major regions, which can ultimately help it solidify its position as a leader in the alternative financing space. Source: http://www.businessinsider.fr/us/hm-klarna-checkout-solution-2018-10

#Google+ is history amid massive #databreach. https://t.co/DBXYLSAMyQ

#Google+ is history amid massive #databreach. https://t.co/DBXYLSAMyQ

— Hans Hagen (@hanhagen1) October 10, 2018

from Twitter https://twitter.com/hanhagen1

#Bangladesh takes steps to grow technology inclusion (currently 30% #smartphone penetration) https://t.co/7juvAbc6Sy

#Bangladesh takes steps to grow technology inclusion (currently 30% #smartphone penetration) https://t.co/7juvAbc6Sy

— Hans Hagen (@hanhagen1) October 8, 2018

from Twitter https://twitter.com/hanhagen1

Bangladesh takes steps to drive technology inclusion from current 30% smartphone penetration

Buy handsets with ease - Users with no credit cards can soon purchase smartphones on EMI (by Muhammad Zahidul Islam) The telecom regulator has finalised a directive that will soon allow those with no credit card to enjoy equal monthly instalment facility to purchase high-end smartphones from mobile operators. A longstanding demand of the carriers, the move is expected to boost 4G-enabled handset penetration in the market, enabling operators to better monetise their investment on 4G. Currently, only about 30 percent of the mobile handsets in use in Bangladesh are smartphones. The EMI will be for six months and the handsets will be locked to the network until then, said a senior official of Bangladesh Telecommunication Regulatory Commission related with the process. Failure to clear the dues will lead to the phone being blocked by the vendor, rendering the handset unusable. The handsets, which would carry the mobile operator's logo as well as the vendor's, can have no less than 1GB RAM and 8GB storage space and be compatible with 900, 1,800 and 2,100 spectrum bands. The handsets must not cost more than the regular market price, and the mobile operators can run advertising campaigns to market them, as per the directive. “This is a global practice and most of the developed countries have adopted this facility quite a few years back,” said Md Jahirul Haque, acting chairman of the BTRC. The directive, which was finalised in a recent meeting of the telecom regulator, will be issued within the next couple of working days. “Besides, we have taken this step to accelerate the digitisation process,” he said, adding that it was a longstanding demand of the mobile operators as smartphone penetration was not increasing at the rate they were expecting. As of June, there are 60 lakh 4G mobile connections in the country and about six crore 3G connections. But the smartphone numbers are not that high. Handset imports increased 9.6 percent year-on-year to 3.4 crore units in 2017, but smartphone imports did not see any rise. In 2017, around 82 lakh smartphones were imported, according to the Bangladesh Mobile Phone Importers Association. The trend continued this year too, when 37.89 lakh units were brought in to the country in the first six months. The development is a cause for alarm for mobile operators as they built their network for the fastest mobile data by investing billion of dollars, they said. Their investment would go to waste if smartphone numbers do not increase. “We welcome the telecom regulator's move,” said Ekram Kabir, a vice president of Robi Axiata. Thanks to the directive, customers can now use smartphones with high configurations at a minimum price and instalment facilities. “This will also strengthen the customer-operator relationship,” Kabir added. source: https://www.thedailystar.net/business/news/buy-handsets-ease-1642789?platform=hootsuite

A new to look at the world: the #cartogram. It will change the way you look at the world! https://t.co/Kpi5fe8dQc

A new to look at the world: the #cartogram. It will change the way you look at the world! https://t.co/Kpi5fe8dQc

— Hans Hagen (@hanhagen1) October 2, 2018

from Twitter https://twitter.com/hanhagen1

#RBS goes head to head with neo-banks #Revolut et al with new #mobileonly bank app in the pipeline. https://t.co/X7TzaN13sb

#RBS goes head to head with neo-banks #Revolut et al with new #mobileonly bank app in the pipeline. https://t.co/X7TzaN13sb

— Hans Hagen (@hanhagen1) September 28, 2018

from Twitter https://twitter.com/hanhagen1

If this is close to reality when it gets to market, then it is super cool! #augmentedreality with #tangar in #retail https://t.co/GHar9mTcHY

If this is close to reality when it gets to market, then it is super cool! #augmentedreality with #tangar in #retail https://t.co/GHar9mTcHY

— Hans Hagen (@hanhagen1) September 26, 2018

from Twitter https://twitter.com/hanhagen1

#Revolut more than doubled its operating losses in 2017, to 15 mill GBP. Luxembourg hedging against #Brexit https://t.co/KweYuy7Nxb

#Revolut more than doubled its operating losses in 2017, to 15 mill GBP. Luxembourg hedging against #Brexit https://t.co/KweYuy7Nxb

— Hans Hagen (@hanhagen1) September 24, 2018

from Twitter https://twitter.com/hanhagen1

#EU failing to curtail #moneylaundering. https://t.co/sB8fa4Jc80

#EU failing to curtail #moneylaundering. https://t.co/sB8fa4Jc80

— Hans Hagen (@hanhagen1) September 20, 2018

from Twitter https://twitter.com/hanhagen1

#ferratum strengthens leadership team. https://t.co/QoDVjKjfmh

#ferratum strengthens leadership team. https://t.co/QoDVjKjfmh

— Hans Hagen (@hanhagen1) September 20, 2018

from Twitter https://twitter.com/hanhagen1

MoneySavingExpert: “Normally when firms go bust, the fear is diminished competition. Not here. #Wonga’s payday loans were the crack cocaine of debt – unneeded, unwanted, unhelpful, destructive and addictive." https://t.co/YNo3lxgi2c

MoneySavingExpert: “Normally when firms go bust, the fear is diminished competition. Not here. #Wonga’s payday loans were the crack cocaine of debt – unneeded, unwanted, unhelpful, destructive and addictive." https://t.co/YNo3lxgi2c

— Hans Hagen (@hanhagen1) September 11, 2018

from Twitter https://twitter.com/hanhagen1

#ING takes big for failing in preventing money laundering. https://t.co/I9vuzyDR7d

#ING takes big for failing in preventing money laundering. https://t.co/I9vuzyDR7d

— Hans Hagen (@hanhagen1) September 10, 2018

from Twitter https://twitter.com/hanhagen1

Goldman Sachs is ditching near-term plans to open a bitcoin trading desk, instead focusing on a key business for driving Wall Street investment in crypto

• Goldman Sachs is putting on hold plans to open a desk to trade cryptocurrencies, including bitcoin, according to people familiar with the matter.
• The bank is downgrading the plans as the regulatory landscape for crypto remains uncertain.
• Goldman is instead focusing its energy on a custody product for crypto meant to better service large institutional clients.

 

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Even Goldman Sachs, the Wall Street behemoth that trades in markets' most esoteric assets, can't find a way to trade bitcoin.

The bank is ditching plans to open a desk for trading cryptocurrencies in the foreseeable future, according to people familiar with the matter, as the regulatory framework for crypto remains unclear.

As part of that decision, Goldman has moved plans to open a desk for trading cryptocurrencies further down a list of priorities for how it can participate in cryptocurrency markets, the people said. It may revive these plans later, they added.

But for now, Goldman is focusing on other projects such as a custody product for crypto, which would mean that the bank holds cryptocurrency and, potentially, keeps track of price changes on behalf of large fund clients. Many market observers have said that forlarge institutional firms to get comfortable trading bitcoin, there need to be reputable custody offerings to safeguard holdings.

After months of expectation that Goldman would begin trading bitcoin earlier this summer, the investment bank publicly preached patience as it studied the burgeoning industry. In recent weeks, however, executives have concluded that many steps still need to be taken, most of them outside its control, before a regulated bank would be allowed to trade cryptocurrencies, one of the people said.

"In response to client interest in various digital products, we are exploring how best to serve them in the space," a company spokesman said. "At this point, we have not reached a conclusion on the scope of our digital asset offering."

The firm already makes markets for clients in bitcoin futures as well as contracts for difference, which allow an investor to bet on the price of bitcoin without owning the underlying asset.

Goldman has publicly tried to downplay its ambitions for creating a desk that trades cryptocurrencies, offering statements that it was still exploring the industry and trying to assess how best to serve customers. Over the past year, the price of bitcoin has fluctuated widely, and it now trades at $7,300 a coin, down from a high of more than $20,000.

Goldman's interest first surfaced in October, when reports suggested the firm was beginning to study the industry with a group made up of employees in the currency-trading division as well as its principal strategic investments team.

In December, Bloomberg reported that the bank hoped to have the desk up and running no later than June. It was to be housed in the securities division, where the firm trades everything from stocks to bonds to currencies. And in April, the bank hired Justin Schmidt as the bank's head of digital asset markets.

In May, The New York Times reported that a team at the bank was exploring a trading desk if it could get regulatory approval and come up with a suitable way of dealing with the added risk of holding cryptocurrencies. At the time, the paper said Schmidt was considering trading cash bitcoin if the bank could get regulatory approval from the Federal Reserve and New York state banking authorities.

The news coverage fed into the belief among industry participants that the bank would soon open its own trading desk.

And yet, it's run into a regulatory roadblock, one of the people said. The bank was looking for some regulatory changes that have yet to materialize and would have protected banks like Goldman from some of the risks unique to trading cryptocurrencies, the person said.

Lael Brainard, a Fed governor who has spoken publicly about the opportunities and challenges for virtual currencies, has cited extreme volatility, lack of governance and legal frameworks for protecting consumers, and vulnerability to money laundering as chief concerns. "This combination of a new asset, which is not a liability of any individual or institution, and a new record keeping and transfer technology, which is not maintained by any single individual or institution, illustrates the powerful capabilities of today's technologies," she said in a May 15 speech. "But there are also serious challenges."

As Goldman pivots, it will compete with other firms looking to become the provider of choice for clients looking for custody services. The bitcoin exchange Coinbase and BitGo are two crypto-first firms eyeing custody. Elsewhere, Fidelity, Nomura, and JPMorgan are exploring similar offerings.

 

http://www.businessinsider.fr/us/goldman-sachs-retreats-from-launching-crypto-trading-desk-2018-9/

#Google (#Alphabet) deploying brokering model to provide loans to the masses in #India https://t.co/jcMMyUhktl

#Google (#Alphabet) deploying brokering model to provide loans to the masses in #India https://t.co/jcMMyUhktl

— Hans Hagen (@hanhagen1) August 29, 2018

from Twitter https://twitter.com/hanhagen1

A great list ! https://t.co/om1NrP8eTP

A great list ! https://t.co/om1NrP8eTP

— Hans Hagen (@hanhagen1) August 24, 2018

from Twitter https://twitter.com/hanhagen1

#Starling joining #Ferratum in offering #BaaS https://t.co/czNn6EYjQU

#Starling joining #Ferratum in offering #BaaS https://t.co/czNn6EYjQU

— Hans Hagen (@hanhagen1) August 7, 2018

from Twitter https://twitter.com/hanhagen1

North Korean opening up for commercial banking. https://t.co/jZwnuwWyrZ

North Korean opening up for commercial banking. https://t.co/jZwnuwWyrZ

— Hans Hagen (@hanhagen1) August 6, 2018

from Twitter https://twitter.com/hanhagen1

#PayPal gets more competition to serve previous owner #ebay. #ApplePay #Square https://t.co/9uRIYtO9DS

#PayPal gets more competition to serve previous owner #ebay. #ApplePay #Square https://t.co/9uRIYtO9DS

— Hans Hagen (@hanhagen1) August 3, 2018

from Twitter https://twitter.com/hanhagen1