article thumbnail

What telco mobile money licenses mean for Nigeria’s financial services sector

CIO Business Intelligence

Over the last decade Africa has gained a reputation for global leadership in mobile money, with Kenya at the forefront, but up to now financial services via mobile phones have not taken deep root in the continent’s most populace country — Nigeria. With the new licenses, banks are set to face some challenges from the telecommunications sector.

Licensing 111
article thumbnail

Moonstone Bank, the Washington state bank with ties to FTX, will wind down crypto operations

GeekWire

(Bigstock Image) Moonstone Bank , the digital lender with ties to FTX, announced this week it will wind down plans to offer banking services for industries such as crypto and cannabis. It was acquired in 2020 by FBH Corporation, owned by Jean Chalopin, also the chairman of Bahamas-based Deltec Bank.

Banking 95
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Rules targeting financial criminals will require new filings for startups and small businesses

GeekWire

Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The data will reside in a confidential database kept by Treasury’s Financial Crimes Enforcement Network, or FinCEN. Insignia of the U.S. Law enforcement will have access to the information in the pursuit of criminals. “But we’ll see.”

article thumbnail

Senators ask regulators to investigate bank and crypto ties, citing Washington state bank

GeekWire

bank regulators to investigate the ties between the banking industry and cryptocurrency firms including Farmington, Wash.-based based Moonstone Bank. They also note that Jean Chalopin, who is the head of Moonstone’s parent company FBH, is also the chair of Bahamas-based Deltec Bank. Elizabeth Warren (D-Mass.)

Banking 90
article thumbnail

Pursuing A New Future of Innovation Through Digital Banking Strategy

CIO Business Intelligence

How has banking evolved during the rapid digitisation of recent years? Banks are no longer the key players in the market, with fintech companies, digital-first start-ups, and tech giants delivering their own brand of financial services. One example is Banking-as-a-Service, with the market expected to reach US$3.6

Banking 98
article thumbnail

Pursuing A New Future of Innovation Through Digital Banking Strategy

CIO Business Intelligence

How has banking evolved during the rapid digitisation of recent years? Banks are no longer the key players in the market, with fintech companies, digital-first start-ups, and tech giants delivering their own brand of financial services. One example is Banking-as-a-Service, with the market expected to reach US$3.6

Banking 98
article thumbnail

Bank downplays ties to FTX sister company in latest fallout from crypto exchange failure

GeekWire

A bank in rural Washington state sought to distance itself from FTX on Tuesday following a report last week detailing its connections to the failed cryptocurrency exchange. 23 that FBH, the parent company of Farmington State Bank, received $11.5 Moonstone Bank’s reputation as well.” Moonstone Bank’s reputation as well.”

Banking 99