Dive brief: In their continued efforts to provide financial services, Walmart and fintech Green Dot have announced that the Walmart MoneyCard is now offered as a demand deposit account, according to a press release on Thursday. Users can manage their finances digitally or at Walmart’s 4,500 locations or over 90,000 Green Dot distribution points nationwide.. […]
Month: June 2021
Walmart and Green Dot replace MoneyCard with a demand deposit account
Dive brief: Walmart and fintech Green Dot said Thursday that the retailer’s MoneyCard is now offered as a demand deposit account, according to a press release. Users can manage their finances digitally or at Walmart’s 4,500 locations or over 90,000 Green Dot distribution points nationwide.. Consumers who convert their Walmart MoneyCard to a demand deposit […]
Walmart MoneyCard now activated as a sight deposit account
Walmart (NYSE: WMT) and Green Dot (NYSE: GDOT) today announced that the Walmart MoneyCard issued by Green Dot Bank is now offered as a demand deposit account (“DDA”) better equipped to help customers. Walmart customers to save money and live better. New and existing Walmart MoneyCard account holders can now access Green Dot Bank’s more […]
Fractional reserve banking on a blockchain
Today saw the collapse of Iron Finance, issuer of a so-called “stablecoin” called IRON which is now worth much less than the dollar it is supposed to be pegged to. This is obviously bad, because the whole point of a stablecoin is to be stable. Stable coins are important. They are widely used by crypto […]
The price of iron from fractional reserve banking
Today saw the collapse of Iron Finance, issuer of a so-called “stablecoin” called IRON which is now worth much less than the dollar it is supposed to be pegged to. This is obviously bad, because the whole point of a stablecoin is to be stable. Stable coins are important. They are widely used by crypto […]