Industry Insights

European Central Bank – Public Consultation on a Digital Euro

The ECB launched a public consultation to obtain input from citizens and professionals on the potential economic and societal implications of issuing a digital euro. This input will be considered when deciding in mid-2021 if a digital euro project will be launched.

Decentralised Finance in Blockchain-Based Financial Markets

Decentralised Finance is a blockchain-based financial infrastructure that has been built on top of the Ethereum Blockchain and uses smart contracts to offer protocols in a more transparent and open manner.

First Bitcoin ETF Launched in North America

The first publicly traded bitcoin exchange fund has been launched in the world, giving investors a more direct way to invest in bitcoin. This fund is different from a derivative or futures contract, as every time someone puts money into the ETF, bitcoin is purchased.

Japan Prepares for Central Bank Digital Currency Pilot Program

As the acceleration towards a cashless society becomes more prevalant, many central banks are exploring the option of central bank digital currencies. Japan has recently released a report on their three-phase approach.

Nexus Mutual Launches Crypto Asset Custody Coverage

Nexus Mutual has introduced custody cover for centralized exchange accounts in addition to their decentralized protocol. This new development will take covers against hacks to Binance, Coinbase, Gemini and Kraken.

OCC Recognizes Decentralised Networks and Stablecoins as Payment Rails

The Office of the Comptroller of the Currency of the United States has announced that national banks and federal savings associations may participate in independent node verification networks and use stablecoins to perform bank-permissible functions. As a result, Cayman-based banks may be afforded the opportunity to access a new, open, global payment infrastructure system that is active and accessible today.

European Central Bank - The Future of a Digital Euro

Bitcoin - A Monetary Revolution

The COVID-19 pandemic has showcased the success of Bitcoin in the monetary revolution. This virtual currency has been recognized as a place for wealthy individuals and companies to store their wealth because it is both scarce and sovereign.

Cartan Group Launches 360° Industry Monitor

After the successful development of our private funds transparency report, Cartan Group has expanded our data discovery algorithms to other Caribbean financial services industries; in addition to the Cayman Islands, this data includes the British Virgin Islands, Bermuda, and the Bahamas. We have developed a 360° Industry Monitor that is currently surfacing a subset of data being collected.

OCC to Prohibit Discrimination Against Legal but Disfavoured Industries

In a bid to level the playing field, the OCC has proposed a new rule that will provide fair access to financial services. This new rule would prevent banks from blacklisting legal industries, including oil and gas and cryptocurrency businesses.