Crypto, fintech lobbies urge Trump to defend open banking amid big banks’ legal challenge
A coalition of trade groups warns of legal threats to U.S. open banking, urging Trump to uphold consumer financial data rights.
Follow crypto banking news, de-risking, stablecoin rails, fintech partnerships, and how traditional finance is adapting to digital assets.
According to the lender, regulators see tokenized bank deposits as safer digital currency alternative to stablecoins amid crypto volatility concerns.
CEO Brian Moynihan sees stablecoins as a transformational tool for Bank of America's payment system evolution.
Jamie Dimon framed the decision as defensive, as fintech companies already design products that mimic checking accounts, payments networks, and loyalty platforms.
Regulators instructed boards and executives to view crypto custody as a service that relies on exclusive control of private keys and other sensitive data.
Traditional financial and fintech firms are increasingly adopting Aave, signaling a shift towards DeFi in institutional finance.
BNY Mellon will be tasked with facilitating Ripple's efficient enterprise-level cross-border transactions with RLUSD.