Chancellor George Osborne has commissioned a report from the UK Treasury into the role that digital currencies could play in the country’s financial system, building on Britain’s reputation as “one of the most attractive jurisdictions for Bitcoin businesses.”
The report, which will be published this autumn, will outline the potential risks and benefits of cryptocurrencies. Osborne revealed the plans in today at the launch of Innovate Finance, where he also said that government plans to make Britain “the FinTech capital of the world” as part of a “long term economic plan to cement Britain’s position as the centre of global finance and global technology.” Osborne also pledged a further GBP 100 million in funding for FinTech companies.
“It’s only by harnessing innovations in finance, alongside our existing world class knowledge and skills in financial services, that we’ll ensure Britain’s financial sector continues to meet the diverse needs of businesses and consumers, here and around the globe, and create the jobs and growth we all want to see in the future,” he said.
It's banks, not government agencies, that the British people trust to deliver biometric authentication payment services, says a new Visa study.
With less than two weeks to go until the US liability shift hits its first anniversary, MasterCard published new data evidencing the positive impact the technology is having on issuing banks, merchants and consumers, as well as saying adoption continues to grow.
Three years since the public consultation, and a year since the £20 was revealed to be the next note to have a makeover, 13th September marks the day that the new £5 polymer bank note enters into circulation.
Global card payments are growing at twice the rate of the number of cards in circulation as acceptance booms and consumer habits shift away from cash.