In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n
Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>Crypto ATMs Banned In The UK Over Legal Concerns<\/a><\/p>\n\n\n\n Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
British banking giant Barclays has agreed to pay a \u00a340 million ($50.9 million) fine to the UK's Financial Conduct Authority (FCA), ending a 16-year-old dispute over undisclosed payments related to its 2008 Qatar fundraising efforts. See Related: <\/em><\/strong>Crypto ATMs Banned In The UK Over Legal Concerns<\/a><\/p>\n\n\n\n Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
HSBC\u2019s decision highlights the complexities foreign banks face in penetrating China\u2019s financial market. Local competitors, including state-owned banks and digital platforms like Alipay and WeChat Pay, dominate consumer lending and payment services. For HSBC, the move reflects a recalibration of its strategy in China.<\/p>\n","post_title":"HSBC To Exit China Credit Card Market After Eight Years","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbc-to-exit-china-credit-card-market-after-eight-years","to_ping":"","pinged":"","post_modified":"2024-12-04 02:20:57","post_modified_gmt":"2024-12-03 15:20:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19769","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19692,"post_author":"18","post_date":"2024-12-03 03:31:08","post_date_gmt":"2024-12-02 16:31:08","post_content":"\n British banking giant Barclays has agreed to pay a \u00a340 million ($50.9 million) fine to the UK's Financial Conduct Authority (FCA), ending a 16-year-old dispute over undisclosed payments related to its 2008 Qatar fundraising efforts. See Related: <\/em><\/strong>Crypto ATMs Banned In The UK Over Legal Concerns<\/a><\/p>\n\n\n\n Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The move marks a shift in HSBC\u2019s earlier commitment to expand retail banking and wealth management services in China as part of its broader Asia-focused strategy. While HSBC continues to generate a significant share of its revenue from Asia, its inability to secure a foothold in the Chinese credit card market represents a notable setback.<\/p>\n\n\n\n HSBC\u2019s decision highlights the complexities foreign banks face in penetrating China\u2019s financial market. Local competitors, including state-owned banks and digital platforms like Alipay and WeChat Pay, dominate consumer lending and payment services. For HSBC, the move reflects a recalibration of its strategy in China.<\/p>\n","post_title":"HSBC To Exit China Credit Card Market After Eight Years","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbc-to-exit-china-credit-card-market-after-eight-years","to_ping":"","pinged":"","post_modified":"2024-12-04 02:20:57","post_modified_gmt":"2024-12-03 15:20:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19769","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19692,"post_author":"18","post_date":"2024-12-03 03:31:08","post_date_gmt":"2024-12-02 16:31:08","post_content":"\n British banking giant Barclays has agreed to pay a \u00a340 million ($50.9 million) fine to the UK's Financial Conduct Authority (FCA), ending a 16-year-old dispute over undisclosed payments related to its 2008 Qatar fundraising efforts. See Related: <\/em><\/strong>Crypto ATMs Banned In The UK Over Legal Concerns<\/a><\/p>\n\n\n\n Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
HSBC\u2019s decision to exit the Chinese credit card market follows unsuccessful attempts to sell the business. The bank\u2019s retreat underscores the challenges of navigating China\u2019s tightly regulated financial sector and the intense competition from domestic banks and digital payment giants.<\/p>\n\n\n\n The move marks a shift in HSBC\u2019s earlier commitment to expand retail banking and wealth management services in China as part of its broader Asia-focused strategy. While HSBC continues to generate a significant share of its revenue from Asia, its inability to secure a foothold in the Chinese credit card market represents a notable setback.<\/p>\n\n\n\n HSBC\u2019s decision highlights the complexities foreign banks face in penetrating China\u2019s financial market. Local competitors, including state-owned banks and digital platforms like Alipay and WeChat Pay, dominate consumer lending and payment services. For HSBC, the move reflects a recalibration of its strategy in China.<\/p>\n","post_title":"HSBC To Exit China Credit Card Market After Eight Years","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbc-to-exit-china-credit-card-market-after-eight-years","to_ping":"","pinged":"","post_modified":"2024-12-04 02:20:57","post_modified_gmt":"2024-12-03 15:20:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19769","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19692,"post_author":"18","post_date":"2024-12-03 03:31:08","post_date_gmt":"2024-12-02 16:31:08","post_content":"\n British banking giant Barclays has agreed to pay a \u00a340 million ($50.9 million) fine to the UK's Financial Conduct Authority (FCA), ending a 16-year-old dispute over undisclosed payments related to its 2008 Qatar fundraising efforts. See Related: <\/em><\/strong>Crypto ATMs Banned In The UK Over Legal Concerns<\/a><\/p>\n\n\n\n Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While the bank has yet to finalize its plans, it may retain credit card services for a small segment of affluent customers, focusing on international travel and luxury features.<\/p>\n\n\n\n HSBC\u2019s decision to exit the Chinese credit card market follows unsuccessful attempts to sell the business. The bank\u2019s retreat underscores the challenges of navigating China\u2019s tightly regulated financial sector and the intense competition from domestic banks and digital payment giants.<\/p>\n\n\n\n The move marks a shift in HSBC\u2019s earlier commitment to expand retail banking and wealth management services in China as part of its broader Asia-focused strategy. While HSBC continues to generate a significant share of its revenue from Asia, its inability to secure a foothold in the Chinese credit card market represents a notable setback.<\/p>\n\n\n\n HSBC\u2019s decision highlights the complexities foreign banks face in penetrating China\u2019s financial market. Local competitors, including state-owned banks and digital platforms like Alipay and WeChat Pay, dominate consumer lending and payment services. For HSBC, the move reflects a recalibration of its strategy in China.<\/p>\n","post_title":"HSBC To Exit China Credit Card Market After Eight Years","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbc-to-exit-china-credit-card-market-after-eight-years","to_ping":"","pinged":"","post_modified":"2024-12-04 02:20:57","post_modified_gmt":"2024-12-03 15:20:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19769","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19692,"post_author":"18","post_date":"2024-12-03 03:31:08","post_date_gmt":"2024-12-02 16:31:08","post_content":"\n British banking giant Barclays has agreed to pay a \u00a340 million ($50.9 million) fine to the UK's Financial Conduct Authority (FCA), ending a 16-year-old dispute over undisclosed payments related to its 2008 Qatar fundraising efforts. See Related: <\/em><\/strong>Crypto ATMs Banned In The UK Over Legal Concerns<\/a><\/p>\n\n\n\n Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\n See Related: <\/em><\/strong>HSBC Survives Bid By Top Shareholder To Spin Off Lucrative Asian Operations<\/a><\/p>\n\n\n\n In light of the growing demand and popularity of digital assets, Goldman has been a leading Wall Street Bank with eyes on the sector. In July, the bank mentioned its plans to launch three new tokenization products in the US and Europe. The bank also seeks to create marketplaces for tokenized real-world assets.\u00a0<\/p>\n\n\n\n Goldman has made inroads following the approvals of spot Bitcoin ETFs<\/a> earlier this year. The bank was, alongside other asset managers Capula Management and Avenir Tech, the biggest buyers of BTC ETFs in the second quarter of 2024.\u00a0<\/p>\n","post_title":"Goldman Sachs Reportedly Wants To Spin Its Crypto Platform","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"goldman-sachs-reportedly-wants-to-spin-its-crypto-platform","to_ping":"","pinged":"","post_modified":"2024-11-24 22:09:58","post_modified_gmt":"2024-11-24 11:09:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19695","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
A Failed Sale<\/strong><\/p>\n\n\n\n While the bank has yet to finalize its plans, it may retain credit card services for a small segment of affluent customers, focusing on international travel and luxury features.<\/p>\n\n\n\n HSBC\u2019s decision to exit the Chinese credit card market follows unsuccessful attempts to sell the business. The bank\u2019s retreat underscores the challenges of navigating China\u2019s tightly regulated financial sector and the intense competition from domestic banks and digital payment giants.<\/p>\n\n\n\n The move marks a shift in HSBC\u2019s earlier commitment to expand retail banking and wealth management services in China as part of its broader Asia-focused strategy. While HSBC continues to generate a significant share of its revenue from Asia, its inability to secure a foothold in the Chinese credit card market represents a notable setback.<\/p>\n\n\n\n HSBC\u2019s decision highlights the complexities foreign banks face in penetrating China\u2019s financial market. Local competitors, including state-owned banks and digital platforms like Alipay and WeChat Pay, dominate consumer lending and payment services. For HSBC, the move reflects a recalibration of its strategy in China.<\/p>\n","post_title":"HSBC To Exit China Credit Card Market After Eight Years","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"hsbc-to-exit-china-credit-card-market-after-eight-years","to_ping":"","pinged":"","post_modified":"2024-12-04 02:20:57","post_modified_gmt":"2024-12-03 15:20:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19769","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19692,"post_author":"18","post_date":"2024-12-03 03:31:08","post_date_gmt":"2024-12-02 16:31:08","post_content":"\n British banking giant Barclays has agreed to pay a \u00a340 million ($50.9 million) fine to the UK's Financial Conduct Authority (FCA), ending a 16-year-old dispute over undisclosed payments related to its 2008 Qatar fundraising efforts. See Related: <\/em><\/strong>Crypto ATMs Banned In The UK Over Legal Concerns<\/a><\/p>\n\n\n\n Investment bank Goldman Sachs is set to spin its cryptocurrency platform in favour of a separate industry-owned company. The new company to be created will focus on creating, trading, and settling financial instruments on blockchain.<\/p>\n\n\n\n Goldman says the digital assets platform, known as GS DAP, will partner with Tradeweb Markets, an electronics trading entity, and others to expand its platform uses. The bank\u2019s global head of digital assets, Mathew McDermott, said<\/a> in an interview:<\/p>\n\n\n\n \u201cThe bank is in talks with a number of market participants on the plans as it continues to build out the platform\u2019s capabilities and develop new commercial use cases.\u201d<\/em><\/p>\n\n\n\n Plans for the spinout are still in the early stages, but McDermott says the bank expects to complete the process in the next 12 to 18 months, subject to regulatory approvals.<\/p>\n\n\n\nGoldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Barclays' Misconduct And Investor Transparency<\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
Barclays' Misconduct And Investor Transparency<\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
The settlement marks the conclusion of one of the longest-running regulatory investigations in British banking history, stemming from Barclays' actions during the height of the global financial crisis.
The case centers on Barclays' emergency capital raising in 2008 when the bank sought funding from Middle Eastern investors to avoid a government bailout. The FCA found that Barclays failed to disclose certain fees paid to Qatari entities during this crucial period, determining the bank's conduct was reckless and lacking in integrity.
While accepting the reduced fine from an initial \u00a350 million penalty, Barclays did not acknowledge any wrongdoing. The bank stated that the decision to withdraw its appeal was primarily influenced by the significant time that had elapsed since the events occurred.<\/p>\n\n\n\nBarclays' Misconduct And Investor Transparency<\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
The settlement marks the conclusion of one of the longest-running regulatory investigations in British banking history, stemming from Barclays' actions during the height of the global financial crisis.
The case centers on Barclays' emergency capital raising in 2008 when the bank sought funding from Middle Eastern investors to avoid a government bailout. The FCA found that Barclays failed to disclose certain fees paid to Qatari entities during this crucial period, determining the bank's conduct was reckless and lacking in integrity.
While accepting the reduced fine from an initial \u00a350 million penalty, Barclays did not acknowledge any wrongdoing. The bank stated that the decision to withdraw its appeal was primarily influenced by the significant time that had elapsed since the events occurred.<\/p>\n\n\n\nBarclays' Misconduct And Investor Transparency<\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
The settlement marks the conclusion of one of the longest-running regulatory investigations in British banking history, stemming from Barclays' actions during the height of the global financial crisis.
The case centers on Barclays' emergency capital raising in 2008 when the bank sought funding from Middle Eastern investors to avoid a government bailout. The FCA found that Barclays failed to disclose certain fees paid to Qatari entities during this crucial period, determining the bank's conduct was reckless and lacking in integrity.
While accepting the reduced fine from an initial \u00a350 million penalty, Barclays did not acknowledge any wrongdoing. The bank stated that the decision to withdraw its appeal was primarily influenced by the significant time that had elapsed since the events occurred.<\/p>\n\n\n\nBarclays' Misconduct And Investor Transparency<\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
The settlement marks the conclusion of one of the longest-running regulatory investigations in British banking history, stemming from Barclays' actions during the height of the global financial crisis.
The case centers on Barclays' emergency capital raising in 2008 when the bank sought funding from Middle Eastern investors to avoid a government bailout. The FCA found that Barclays failed to disclose certain fees paid to Qatari entities during this crucial period, determining the bank's conduct was reckless and lacking in integrity.
While accepting the reduced fine from an initial \u00a350 million penalty, Barclays did not acknowledge any wrongdoing. The bank stated that the decision to withdraw its appeal was primarily influenced by the significant time that had elapsed since the events occurred.<\/p>\n\n\n\nBarclays' Misconduct And Investor Transparency<\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
The settlement marks the conclusion of one of the longest-running regulatory investigations in British banking history, stemming from Barclays' actions during the height of the global financial crisis.
The case centers on Barclays' emergency capital raising in 2008 when the bank sought funding from Middle Eastern investors to avoid a government bailout. The FCA found that Barclays failed to disclose certain fees paid to Qatari entities during this crucial period, determining the bank's conduct was reckless and lacking in integrity.
While accepting the reduced fine from an initial \u00a350 million penalty, Barclays did not acknowledge any wrongdoing. The bank stated that the decision to withdraw its appeal was primarily influenced by the significant time that had elapsed since the events occurred.<\/p>\n\n\n\nBarclays' Misconduct And Investor Transparency<\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n
Goldman Among Leading Banks Eyeing Crypto<\/strong><\/h2>\n\n\n\n
The settlement marks the conclusion of one of the longest-running regulatory investigations in British banking history, stemming from Barclays' actions during the height of the global financial crisis.
The case centers on Barclays' emergency capital raising in 2008 when the bank sought funding from Middle Eastern investors to avoid a government bailout. The FCA found that Barclays failed to disclose certain fees paid to Qatari entities during this crucial period, determining the bank's conduct was reckless and lacking in integrity.
While accepting the reduced fine from an initial \u00a350 million penalty, Barclays did not acknowledge any wrongdoing. The bank stated that the decision to withdraw its appeal was primarily influenced by the significant time that had elapsed since the events occurred.<\/p>\n\n\n\nBarclays' Misconduct And Investor Transparency<\/h2>\n\n\n\n
Steve Smart, joint executive director of enforcement and market oversight at the FCA, acknowledged the serious nature of Barclays' misconduct, particularly regarding investor transparency. However, he also noted that Barclays has undergone substantial organizational changes in the intervening years.
The resolution came just as the bank was preparing for a court hearing where former Chief Executive John Varley was expected to testify. Barclays emphasized that the settlement would have no material financial impact on the institution.
This settlement represents a significant milestone in clearing legacy issues from the 2008 financial crisis era. For Barclays, the resolution removes a long-standing regulatory overhang and allows management to focus on current challenges and opportunities.
The case also sets important precedents for financial sector transparency and regulatory oversight. As global banking faces new challenges, including digital transformation and emerging market risks, this settlement reinforces the importance of clear disclosure practices and regulatory compliance.
Looking ahead, the banking sector continues to navigate complex regulatory landscapes while adapting to rapid technological change and evolving customer needs. The conclusion of this historic case may signal a broader shift toward forward-looking priorities in banking governance and compliance.
The settlement also highlights how regulatory approaches have evolved since the financial crisis, with increased emphasis on transparency and corporate governance. This could influence future regulatory frameworks and banking practices, particularly in times of market stress or when seeking alternative funding sources.
<\/p>\n","post_title":"Barclays Draws Line Under 2008 Crisis Era With \u00a340M FCA Settlement","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"barclays-draws-line-under-2008-crisis-era-with-40m-fca-settlement","to_ping":"","pinged":"","post_modified":"2024-12-03 03:31:16","post_modified_gmt":"2024-12-02 16:31:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19692","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":19695,"post_author":"21","post_date":"2024-11-24 22:09:52","post_date_gmt":"2024-11-24 11:09:52","post_content":"\n\n