Taiwanese venture studio, Nogle is now the new lead investor of First Digital Trust (FDT). Before FDT, Nogle has been seen to be investing in some other leading technology firms such as the fin-tech behind Hong-Kong’s largest e-wallet TNG and Telegram the global messenger app. The Crypto-assets focused technology-driven financial institution First Digital Trust has …
One of the hottest topics in cryptocurrencies is the prospect of major economies launching state-backed digital coins. China’s central bank recently accelerated plans for what is currently known as the Digital Currency Electronic Payment (DCEP). It could launch within the next 18 months, while the European Central Bank is looking at something similar.
“New payment methods will trigger greater competition for deposits. If consumers have faster ways of paying their bills, and merchants can get faster access to their sales revenue without needing a bank, they won’t want to keep as much money in accounts that pay extremely low interest.”
Banks currently pay less than 0.1% interest on checking and savings accounts, and only a slightly higher rate on one-year certificates of deposit. Meanwhile, the amount banks receive from routine overnight loans has climbed from 0.3% in 2015 to over 2% in 2019.
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