LONDON—U.K. fintech startups have reached a record level of $2.9 billion of funding in the first half of this year across a total of 123 deals.
CU News From Around the Planet
NAIROBI, Kenya–This country’s largest cooperative bank has agreed to bail out one of the country’s largest credit unions, which has been having liquidity issues in recent months.
BASEL, Switzerland—The head of the Bank for International Settlements is predicting central banks' digital currencies (CBDC) may become a reality more quickly than many expect.
LONDON—A G7 taskforce is being created to examine how central banks can regulate cryptocurrencies such as Facebook’s Libra, a new report indicates.
WASHINGTON–A credit union delegation and a former member of Congress that met with USAID here about increasing funding.
ABU DHABI, United Arab Emirates—All financial institutions in this country must now report any suspicious transactions through “goAML” a newly United Nations-developed anti-money laundering platform, the Central Bank of the UAE announced.
GENEVA, Switzerland—Dukascopy Bank announced it has developed its own Ethereum stablecoins.
BASEL, Switzerland–The Basel Committee has revised the leverage ratio treatment of client cleared derivatives to generally align it with the standardized approach measuring counterparty credit risk exposures (SA-CCR) as used for risk-based capital requirements, according to the World Council of Credit Unions, which supported the move.
LONDON–Lloyds Banking Group has pledged a further £1 million to support credit unions across the U.K. through its Credit Union Development Fund.
NEW YORK—JPMorgan Chase has launched a platform to digitize and automate cross-border payments in China, while separately it has been hit with a fine by Ireland’s regulator.