It will use Mastercard Send so customers in Australia and Hong Kong can send payments to more than 1.5 billion Mastercard cards.
We run down the status of the four most at-risk regional lenders following SVB’s collapse. And look at why the Big Six are better protected.
Crypto-friendly Swiss banks have given them a lukewarm welcome, and other banks have offered only limited services. This might be exactly what regulators want.
In the wake of SVB’s sudden downfall, more stringent regulation looks likely, including reviews of the threshold for stress testing.
Their deposits are safe, but they still have to find new lenders to park their cash. Some firms are steering clear—but others smell an opportunity.
SVB leaves void of startup support in its wake: Depositors may get their money back but they’ll lose the go-to institution for young companies accessing capital. Brace for startup failures.
Wix’s merchants can benefit from stronger fraud detection capabilities as card-not-present fraud risks increase.
Trust remains crucial for banks as authorities tussle to stop panic and restore stability after the collapse of three banks.
US regulators took steps to ensure two banks’ failures didn’t break the financial system. The moves were out of the ordinary, and not anticipated.
They’ve closed crypto-lender Signature Bank to protect depositors and restore public confidence.
Countries with SVB branches are halting operations, and regulators across the globe are monitoring contagion risk. But human emotion doesn’t run on logic.
Startups have had issues with payment processing and access to capital. Many crypto investors also swapped their USDC holdings for Tether.
SVB’s fall could set off more uncertainty in the tech sector: The collapse of a longtime cog in the country’s innovation engine will put additional strain on a tech sector already reeling from layoffs and losses.