Regulating the Crypto Ecosystem The Case of Unbacked Crypto Assets

whitePaper | October 21, 2021

During the pandemic banks had to experiment and take risks that under normal circumstances they would never have considered in order to keep operations up and running, such as rapidly deploying a range of digital tools. To the surprise of many, employees and customers enthusiastically embraced these digital offerings, accelerating technology maturity and adoption by several years. Banks suddenly had hard evidence that digitizing operations could bring enormous efficiency and scale advantages while actually serving customers with greater personalization. These insights, in addition to capitalization changes, are contributing to a new wave of M&A activity in the U.S. as banks look to scale up quickly as the economy emerges from the pandemic. There were more than 50 deals in the first four months of 2021 with a total value of almost $25 billion, up from $6.5 billion in the same period in 2020, according to an S&P Global report.

whitePaper | October 3, 2022

50% reduction in costs associated with cash handling/servicing by financial institutions (FIs) that implemented cash recycling, and typical reduction of cash replenishment and CIT visits by 20-50%. Advanced Friction Pick Technology allows accurate note separation and banknote transportation.

whitePaper | July 15, 2022

Since the inception of Bitcoin in 2008, financial markets have seen a sharp increase in market capitalization for various blockchain-based assets in recent years. Yet, Bitcoin still represents the most popular cryptocurrency, with a market capitalization amounting to approximately USD 370 billion as of mid 2022. The recent phenomenon of blockchain-based applications such as non-fungible tokens (NFTs) and the emergence of decentralized finance (DeFi) have also contributed to the mushrooming of digital assets. In particular, DeFi has experienced tremendous momentum, with cryptocurrency investments locked to the Ethereum blockchain exceeding USD 100 billion by the end of 2021. DeFi has witnessed a rapid increase in market value in 2021, accompanied by a growing user base and the emergence of new, innovative use cases. Against this backdrop, we believe that exploring and developing a comprehensive understanding of DeFi marks a worthwhile endeavor.

whitePaper | April 4, 2022

Decentralization, Scalability, or Security: Pick two. In brief, the Trilemma refers to the fact that networks in general (and distributed systems in particular) suffer from internal trust issues, proportionate to their size: The larger the size of any network, the greater the degrees of separation between its members and therefore the lower the level of trust. This problem can only be averted by either a) making it harder to join the network, reducing scalability; or b) delegating the responsibility (and associated privileges) of overseeing the network’s activities to a handful of specialized nodes, sacrificing the inherent appeal of decentralization.

whitePaper | May 23, 2022

The need to accelerate the journey to financial operations excellence has seen the emergence of packaged, purpose-built Financial Operations Management solutions to elevate persistently manual processes that are ripe for transformation. They typically include workflows and automation, intelligence, analytics, and collaboration. These are all proven to deliver predictable returns, from speeding up the close, to reducing DSO, to streamlining netting and settlement processes. A purpose-built approach accelerates delivery and reduces delivery risk while realizing predictable returns on investment.

whitePaper | May 20, 2022

They shape how people spend and save and many of their daily interactions. With the onset of the global COVID-19 pandemic, the value of digital payments for individuals and businesses became even more apparent. In Latin America and the Caribbean (LAC) digital payments emerged as the preferred method of purchase: e-commerce grew 18% in 2020.