Tag

Banking Partnerships

All articles tagged with #banking partnerships

business3 years ago•2 min saved

The Unhappy Marriage of Apple and Goldman Sachs

Goldman Sachs, the issuing partner for Apple Card, has reportedly lost money on the venture, leading to speculation that American Express could replace them. However, a report reveals that Apple CEO Tim Cook initially couldn't get approved for an Apple Card due to his high-profile status. Despite Goldman Sachs wanting to exit the consumer credit business, they may be stuck with the 10 million Apple Card users for now. American Express is seen as a potential contender, but Apple may prefer a less recognizable banking partner. Resolving the situation could take up to a year and a half.

via 9to5Mac|

#american-express #apple-card #banking-partnerships

cryptocurrency3 years ago•3 min saved

The Risky Business of Crypto and Regulated Banks

The collapse of crypto-friendly banks Silicon Valley Bank and Silvergate Capital has created uncertainty and challenges for the crypto industry, particularly for stablecoins like USD Coin that rely on banking partnerships to maintain their peg to the US dollar. The loss of a significant banking partner also makes it harder for crypto companies to comply with regulations and offer their services in a consistent manner. The situation has led to a knock-on effect on investor confidence, adoption, and growth, and may increase scrutiny from regulators on stablecoins and banking partnerships. The collapse of these banks may also force traditional banks to reassess their relationships with the crypto industry and the risks associated with those relationships.

via Cointelegraph|

#banking-partnerships #cryptocurrency #regulations