Web3 Diaries – JP Morgan Uses AI For Trade
Investment banking giant JPMorgan has reportedly unveiled an artificial intelligence (AI) tool to analyze Federal Reserve statements and speeches to detect potential trading signals.
The Wall Street investment bank is using a ChatGPT-based language model to digest comments from United States central bankers.
These Fed policy signals will be rated on a scale from easy to restrictive to derive what the bank has called a Hawk-Dove Score.
“Hawkish” is a monetary policy term that refers to raising interest rates to keep inflation under control. The opposite is “Dovish,” which favors an expansionary monetary policy and lower rates.
Temenos Integrates With DLT-Based CBDC Tech Stacks
Central banks across the globe are inching towards the creation of their own digital currencies, commercial banks are also busy prepare their roles as distributors of CBDC, handling customer KYC, wallet opening, and providing on-off ramps to deposit accounts.
Temenos, specialising in enterprise software for banks and financial services, has moved to prove its readiness to help banks, ensuring integration of its platform with multiple DLT-based technology stacks, successfully executing end-to-end retail CBDC use cases for commercial bank touch points.
This includes central bank token issuance to commercial bank wallets, customer non-custodial wallet creation, CBDC conversion through orchestration of deposit account updates with on-chain transactions, and providing wallet access points for user-to-user transfers on-chain.
Digital Wallet Infrastructure Platform Ansa Raises $5.4 Mn In Funding
Ansa, a digital wallet infrastructure platform for merchants founded by Adyen and Affirm veterans, has emerged from stealth with $5.4 million in funding.
The round was led by Christina Melas-Kyriazi at Bain Capital Ventures with participation from Nimi Katragadda at Box Group, Nichole Wischoff at Wischoff Ventures, Cambrian Ventures, The Fintech Fund, and Susa Ventures.
Ansa is aiming to address the high fees merchants in the US face for accepting credit and debit card payments, particularly when it comes to micro-transactions. Its answer is to help merchants build wallets where customer balances are embedded in the firm’s or platform’s ecosystem.
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