Promethium Ember Capital, (“PEC”), a wholly owned subsidiary of Promethium, has become the first digital asset custody provider to come under federal regulation. PEC was approved as a special purpose broker-dealer (“SPBD”) for digital asset securities. The approval allows Promethium to custody digital asset securities on behalf of both retail and institutional clients. The significance […]
Posts Tagged ‘digital assets’
The Digitization of Supply Chain Management
As proposed by the World Economic Forum as well as Harvard University, a fourth Industrial Revolution, aka Industry 4.0, is starting.
Industry 4.0 enables companies, governments, and public sector agencies to use innovative digital technologies, smart automation, and advanced analytics to transform operating processes. This blending of technologies combines the physical and digital (“phygital”) worlds, enabling unique and positive industry improvements and impacts.
The path to Industry 4.0 is powered by pervasive connectivity, cloud computing, and enriched data. It requires high-performance, secure networks that can integrate with legacy environments to support critical processes with 24/7 availability, high speed, and very fast responsiveness. These networks have the capability to connect all systems and machines, people, and business processes and offer deep data insights that will enable agile, proactive operations.
Go Where No Operations Department Has Gone Before – Instant Settlement
Captain/Trader Kirk is on the bridge making multiple trades in multiple asset classes with his Klingon counterparty. Spock is in the middle office, reviewing trades, and determining that they’re entirely logical, Captain. Meanwhile, with both normal and extended settlement, initial and variation margins flow in and out of the bank as if the cash was […]
Examining “Britcoin”: Will a Digital Pint Be a Digital Pound the Earth Around?
At sea level, one US liquid pint of water weighs 1.04318 pounds (16.6909 oz), which gives rise to a popular saying: “A pint’s a pound, the world around.” While the recent bank failures of Silicon Valley Bank and Signature Bank have many US congressmen and citizens wondering about the future of cryptocurrencies, across the pond, […]
Blockchain: The Secret Sauce to Supply Chain Visibility
In “Behind the Golden Arches” by John Love, the author shares an anecdote of how in the early days of McDonald’s, the company was having cashflow problems despite its being a significant source of revenue for many farmers. In a meeting with a particularly large farmer who had made significant money from selling tomatoes, lettuce, […]
Federal Reserve Issues Supervisory Letter on Crypto Activities for Banks
Similar to what the OCC issued in December 2021, in August 2022, the Federal Reserve Board (FRB) issued a Supervisory Letter outlining the steps FRB member banks should take prior to engaging in crypto-asset-related activities, such as assessing whether such activities are legally permissible and determining whether any regulatory filings are required. Additionally, the Supervisory […]
An Interview With Two Billionaires In 2042
A metaphorical interview about the collapse of NFTs and what it possibly means for the future. Good morning. Today, financial correspondent I.D. Futchermann will be interviewing legendary finance executive Richard Tan Yu. I.D Futchermann: Let’s start with you, Richard. How did you get started? Richard Tan Yu: Well D, after graduating as a history major […]
Non-Fungible Tokens (NFTs): You Never Forget Your First Time
Would you trust an electrician who lived in the dark? A plumber who didn’t have indoor running water? A digital asset subject matter expert and program manager who didn’t own a non-fungible token? Toward solving that last one, I thought it would be helpful for our readers to see step-by-step, my screen as I acquired […]
Becoming a “Bahama Mama” Crypto-Style: A Closer Look at The Digital Asset Landscape in The Bahamas
Members of Perficient’s Digital Asset Team have advised followers in multiple online articles about the digital asset revolution and relevant regulations affecting the same in the United States. Some of these online articles can be found here: OCC Provides Roadmap for National Banks and Savings Associations To Conduct Crypto Activities – Perficient Blogs The Pros […]
The Architecture of Stablecoins
In a recent speech and interview with the Institute of International Economic Law at Georgetown University, current Acting Comptroller of the Currency Michael J. Hsu gave numerous remarks on the architecture of stablecoins. According to the Comptroller, the architecture for a stablecoin system can be viewed through the lens of three key policy issues: Stability […]
U.S. Regulations to Consider When Managing a Cryptocurrency Fund
This piece was written in collaboration with Chandni Patel, Director of Financial Services and member of Perficient’s Digital Assets Working Group. Our Digital Assets Team has blogged in the past about the regulatory landscape facing cryptocurrency from a banking perspective (OCC Provides Roadmap for National Banks and Savings Associations To Conduct Crypto Activities, NY Federal […]
Highlights from John Glen’s Keynote Speech at the Innovate Finance Global Summit on Crypto
John Glen, Economic Secretary to the Treasury of the United Kingdom, delivered the keynote speech at the Innovate Finance Global Summit held in London last month. Glen began his speech by stressing the enormous contributions financial services institutions, particularly “fintech unicorns,” have made to the UK; the UK is the leading European fintech hub and […]