BRIEF-Tencent Expects Regulators To Grant Licenses To Its…

The government will also review property rights for tokenised assets and explore legalising so-called smart contracts – self-executing transactions whose results depend on pre-programmed inputs.

“Financial innovation has greatly changed the risk patterns and security boundaries of the industry,” Liu Fushou, chief risk officer of the China Banking and Insurance Regulatory Commission, said at the Caixin Summit on Friday.

Oct 24 (Reuters) – Marqeta, a fintech company focused on payments services, is launching a suite of new banking products in a major push to deepen its relationships with customers which include Coinbase, Uber and DoorDash.

lender has been buying. In September, JPMorgan agreed to acquire Renovite Technologies Inc, a cloud-based payments technology company, the latest in a string of deals worth $5 billion over the past 18 months. Aiming to meet the challenge, the largest U.S.

Oct 18 (Reuters) – Goldman Sachs Group Inc unveiled a plan to reorganize its business into three units in another overhaul in less than three years by the Wall Street giant, which also reported a smaller-than-expected 44% slump in third-quarter profit on Tuesday.
The bank will now have three operating segments – asset and wealth management, global banking and markets, and platform solutions. Following is the leadership structure at Wall Street’s foremost investment bank in the newly organized units: Asset & Wealth Management (AWM): The new unit integrates the bank’s investing and wealth activities into a single business Executive Title Role Marc Nachmann Global head, AWM To oversee the combined business strategy Julian Chief investment To oversee investing Salisbury officer, AWM activities Rich Friedman Chairman, Goldman To continue to serve in Sachs Asset previous role focused on Management the bank’s global investment franchise Tucker York Global head, To focus on growing the Goldman Sachs bank’s Private Wealth Wealth Management Management(PWM) franchise Luke Sarsfield Chief commercial To focus on client officer, AWM franchise and distribution Laurence Stein Executive vice To focus on executing president and chief strategies across merged operating officer, businesses AWM Global Banking & Markets (GBM): Integrates Goldman’s investment banking and global markets into a single business Executive Title Role Ashok Varadhan Global co-head To work across advisory, (GBM) financing, risk distribution and hedging segments with co-heads Dan Dees Global co-head – (GBM) Jim Esposito Global co-head – (GBM) Platform Solutions: The bank’s new business will bring together its fintech platforms including GreenSky, that Goldman bought in a $2.2 billion deal in 2021 Executive Title Role Stephanie Global head, To focus on building and Cohen Platform Solutions embedding cloud-based financial products and services for corporate and institutional clients Hari Moorthy Co-chief operating To focus on executing officer, Platform business strategy with Solutions co-COO Peeyush Nahar Co-chief operating – officer, Platform Solutions Source: Goldman Sachs (Reporting by Manya Saini, Niket Nishant, and Noor Zainab Hussain in Bengaluru and Saeed Azhar and Lananh Nguyen in New York Editing by Nick Zieminski)

These moves are likely to pave the way for real estate security token offerings (STOs), industry players said.

STOs are blockchain-based tokens that represent ownership interests or entitle holders to income or dividends generated from real assets.

There has been a spate of unusual post-IPO price pops this year, including many China-to-U.S.

offerings, such as Magic Empire Global, which soared over 5,000%, and fintech AMTD Digital, which tripled in price in a week.

“Industry participants want to see consistency in the global regulatory regime, otherwise there will be opportunities for bad actors to exploit loopholes in jurisdictions with less rigid laws,” he said.

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More than a third of consumers started using credit cards for the first time in the past year, while 27 per cent had turned to “buy now pay later” services and 18 per cent had dipped into an overdraft.