Priya Patel
TLDR:
Key points:
- The US Federal Reserve is not currently considering a central bank digital currency
- Flagstone receives a significant investment from Estancia Capital Partners
In the world of finance and tech this week, the US Federal Reserve has made it clear that they are not currently considering the adoption of a central bank digital currency. This statement came in response to concerns raised by North Dakota senator Kevin Cramer regarding privacy and government control. On the other hand, UK fintech Flagstone has secured a £108 million equity investment from Estancia Capital Partners, one of the largest investments in the UK fintech sector this year. This injection of capital will help Flagstone strengthen its position in the UK’s savings market and enhance its industry partnerships and customer service experience.
In other news, Starling Bank has named Raman Bhatia as its new group CEO, with plans to expand its business and retail banking units as well as its Banking-as-a-Service platform Engine. Mastercard is piloting a new Smart Subscriptions feature in the US to provide consumers with more transparency over subscription-based payments. Finally, the Canton Network completed a successful trial with major players in banking and capital markets, demonstrating how interoperable distributed ledger applications can leverage blockchain technology for atomic transactions.
