From Hawala to Swift: Inside the 1,000-year battle to move money safely
Finance has spent centuries decoupling wealth from physical transport, but constantly erasing friction creates vectors for increasingly high-tech exploits.
Money
Inside the high-stakes battle between digital dollars and Swift's massive money engine
Crypto executives say new blockchain payment infrastructure could make Swift obsolete. Bankers say its 11,500-institution network gives it the power to absorb the technology instead.
BlackRock (BLK) debuts tokenized access to $311 billion of money market funds in Europe
BlackRock (BLK), the world’s largest asset manager, is building on its recent expansion of tokenized cash offerings in the U.S. by tapping into a combined $311 billion of assets under management in European money market funds in a sign of the growing appeal of holding… Read More
BlackRock expands tokenized cash with new blockchain-based money market offerings
BlackRock, the world’s largest asset manager, has expanded its tokenized cash platform, introducing a couple of new tokenized money market products, the firm said on Monday. Back in May of this year, BlackRock filed for the new products with the U.S. Securities and Exchange Commission… Read More
State Street targets stablecoin reserve boom with new money market fund
Wall Street’s largest asset managers are increasingly competing to manage the assets backing stablecoins, a market that could swell into the trillions of dollars as digital dollars become a larger part of the financial system. State Street Investment Management introduced the State Street Stablecoin Reserves… Read More
Asset manager L&G brings its $68 billion money market funds onchain via Calastone
Legal & General Asset Management announced Wednesday that it placed the more than 50 billion pounds (roughly $68 million) in liquidity funds that it manages onchain through a new distribution channel built by Calastone. “We are thrilled to make our liquidity funds available on the… Read More