I know, I know, we have said FintekNews focuses on the US fintech sector, but sometimes we just have to ‘share’ with UK stuff. Seems the Brit’s regulatory “cops” are way ahead of our US gumshoes (although we have more employees and spend more….so there). Innovation is being welcomed in the new Britain.
The blockchain start-up Epiphyte announced the FCA (Financial Conduct Authority), which is the UK’s financial services regulator, is allowing the company to provide alternate clearing and settlement systems that use Bitcoin.
With the FCA sandbox stocked with lots of new sand, financial institutions can choose bitcoin based blockchain technology to allow customers to deliver payments in local currencies and bypass the traditional large banking systems. Faster, cheaper and more transparent. Awesome usages of blockchain coming on a daily basis.
By Bill Taylor, CEO – FintekNews