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While inflation may be slowing, Americans are groaning under the direct and indirect impact of the Fed increasing the interest rate. The US Federal Reserve (Fed) has continued raising the interest rate and on Wednesday increased the rate by another 0.25 percentage point, causing worry about the potential impact. The apex
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While there are plans in place to repay shareholders following the Credit Suisse acquisition by UBS, many may be unable to quantify their losses because of the bank’s collapse. Swiss multinational financial services giant Credit Suisse Group AG (SWX: CSGN) has shared more insights into its finances for the first quarter
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TransUnion, one of the three major United States credit reporting agencies, announced on April 20 that it would begin supplying credit scoring to public blockchain networks. Off-chain credit data have not previously been available to Web3 and decentralized finance (DeFi) applications.In the new TransUnion service, credit information will be made available
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TransUnion, one of the largest credit agencies in the U.S., will provide off-chain credit scores for blockchain-based loan applications in a way that maintains the privacy of consumers. Source
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The firm introduced an upgraded credit underwriting process and appointed a new head of credit. The developments came after M11 Credit suffered $36 million of loan defaults on lending protocol Maple Finance following FTX’s November collapse. Original Source
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Australia and New Zealand Banking Group (ANZ) has completed its use case in the pilot project run by the Reserve Bank of Australia (RBA) and Digital Finance Cooperative Research Centre using central bank digital currency (CBDC). ANZ partnered with Grollo Carbon Ventures (GCV) to trade carbon credits.ANZ tokenized Australian Carbon
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As rising prices have forced consumers all over the world to reduce their spending and find new ways of coping with the increased cost of living, consumers are finding themselves relying on credit cards even more than they already were. More Americans are unable to pay their credit card bills in
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The two banks also assure of plans to allow the platform to accommodate central bank digital currencies in the future. Earlier, Crédit Agricole CIB and SEB jointly announced the launch of a new public blockchain-based platform, so|bond. According to the announcement, the platform will be focused on improving the efficiency
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It is said that the new CEO is equipped as the “best pilot” to navigate the current business challenges. Investment banking company UBS has named former UBS Group CEO Sergio Ermotti as the new CEO to oversee the Credit Suisse takeover. UBS bought Credit Suisse for $3.2 billion last week as
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On Sunday, March 19, the 167-year history of banking giant Credit Suisse ended with a takeover by the largest Swiss bank, UBS. Under pressure from the Swiss government, UBS took over its ailing competitor for 3 billion Swiss francs ($3.25 billion) — less than half the $8 billion market value
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