2022: Top five crypto developments
FinTech Futures takes a look back at some of the year’s top crypto developments and stories.
Libra
FinTech Futures: Top five stories of the week – 8 July 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Meta calls time on digital wallet project Novi
The Novi app and Novi on WhatsApp will no longer be available starting 1 September 2022.
Meta drops crypto project Diem due to regulatory roadblocks
The Diem Association has sold its intellectual property and tech assets to Silvergate Capital in a $182m deal.
Novi chief and co-creator of Diem David Marcus to leave Meta
Marcus is stepping down to pursue new entrepreneurial opportunities after seven years at the firm.
Facebook’s Libra could launch as early as January 2021
Novi’s digital wallet is “ready from a product perspective”.
Libra’s Second Wind
Some say slow progress of blockchain adoption is not just because of regulatory hurdles.
Facebook attempts to address concerns expressed by regulators on the original proposal
The tax problems with this proposal identified in our client briefing on Libra 1.0 remain unresolved.
Vodafone leaves Facebook’s Libra to focus on M-Pesa
M-Pesa is the telco’s digital payment service.
German bank association fires shots at Libra, calls on politicians and central banks for digital euro
The association wants a crypto led by European commercial banks and politicians.
ING validates transactions without compromising data in “blockchain breakthrough”
Transactions on Corda can now be proofed with complete privacy.
Libra publishes signed charter with 21 members, inc. Spotify, Uber and PayU
Libra’s meeting also agreed on board members and staff.
Libra’s woes continue as Booking Holdings departs
The association has now lost 25% of its membership.
Libra: Already a victim of fraud
According to the Facebook model, you steal a little and they bank the ad revenue.
Mastercard, Visa, eBay and Stripe follow PayPal’s suit and leave Facebook’s Libra
Facebook’s hopes of a global cryptocurrency are hanging in the balance.
Facebook’s Libra creating a shadow banking system, say US banks
US banks reckon Libra poses a threat to national monetary policy.
FCA: Libra will lead to financial exploitation
Regulator fears the crypto will bypass payment services.
Regulators could delay Facebook’s Libra launch, says executive
Libra’s MD says regulators must be “fully onboard” first.
German blockchain strategy fires warning shot at Facebook’s Libra project
Germany vows to fight any efforts to issue parallel currencies.
DN Intersect 2019: Libra is the “biggest greenfield opportunity” for banks
There are fears banks have missed the boat with Libra.
Verrency and Coinify announces new virtual currency partnership
Libra brought virtual currencies into mainstream.
Top fintech stories this week – 27 July 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Five Degrees buys Icelandic core banking provider Libra
Dutch firm seeks boost to its digital banking ambitions.
