Rich Turrin
Industry Leader in fintech and digital transformation
CGTN: The most stunning, and shocking, aspect of the current crisis is the speed at which the banks fell. At the Silicon Valley Bank – $42 billion were withdrawn within 24 hours! Are Americans losing trust in the banking system? Richard Turrin: This is the most important thing for people to understand. The nature of a …
We will not see the 2008 financial crisis repeating in 2023. Silicon Valley Bank, Signature Bank and the Silvergate Bank don't have these broad international connections that can create a domino effect in the global economy, says author and fintech expert, Richard Turrin.
Talking digital yuan with “Global Business” host Robyn Dwyer on CGTN Europe. I am always honored when CGTN Europe calls for commentary on the digital yuan! Thank you to the entire CGTN Europe team Natalia Scott, Juliet Errington Mann and Jamie Owen! Today’s interview was an update on e-CNY that followed their FTX crypto coverage. …
Very proud of my interview on CNBC’s Squawk Box which was used for an article as well. Below are links to the article and some highlights: Key quotes: “What you’re going to see in the future is a rollback, a risk management exercise that seeks to slowly and maybe just slightly reduce the dependence on …
Thank you to Finextra and Paige McNamee for this great opportunity to talk about the Fed’s digital dollar report. The Fed report I critique can be found here in PDF format: Money and Payments: The U.S. Dollar in the Age of Digital Transformation ‘A crisis of vision’: Richard Turrin takes aim at the Fed’s …
Delighted to contribute this article to the South China Morning Post. Link here: China’s digital yuan is not death knell for Alipay and WeChat Pay China’s digital payment market is big enough for the e-CNY, Alipay and WeChat Pay to survive and thrive alongside one another The digital currency will benefit from more visibility while …
China big tech’s “new normal” is no “Wild West” and those days are never coming back with the launch of China’s new “State Anti-Monopoly Bureau.” In this interview on CGTN Europe I talk about the goals of China’s new Anti-Monopoly Bureau which has now been upgraded to “Deputy Ministerial” status to ensure that it is …
The Olympic games are upon us and China’s digital yuan is increasingly in the news. This is all part of the PBOC’s “coming out party” for the digital yuan. An attempt to win technological gold for being the first major country to launch a CBDC. It remains to be seen what the reaction to China’s …
Great honor to speak with Australia’s leading financial newspaper the Financial Review! There is a sense in Australia that a CBDC isn’t necessary. This may be true, but there is great concern that APRA is not factoring in the impact of regional CBDCs on trade. Richard Turrin, author of Cashless, China’s Digital Currency Revolution, …
“Digital payment systems bring financial inclusion to those who have less, are unbanked, or underbanked.” I am grateful to @Dr. Diane Hamilton, for the opportunity to talk about Cashless on her nationally syndicated radio show “Take the Lead.” Diane is a behavioral expert, author, speaker and consultant and her background came shining through with the …
Very proud to have the last word in my favorite newspaper the Financial Times. Gillian Tett is the chair of the editorial board and a fabulous columnist. In a wonderful article that you really should read “Financial cartels face digital currency shake-up” Tett wrote: “It seems unlikely that CBDCs (or privately created digital tokens) will …
Asia is where its at! The center of gravity for financial innovation is moving to Asia with 7 of the top 10 CBDC projects in Asia. 14:14 Great interview with the Economic Times “ETMarkets Cryptomeet” where we talk about #CBDC and why it matters. Grateful to Sharat Chandra a real crypto guru, who asked all …
“Assuming that China can’t do something is a really bad bet to make” Rich Turrin 9:02 This interview is simply the best I have ever done if you want to learn about modern China and where it’s going. It is less focused on CBDC but covers geopolitical issues and what life in modern China is …
China internet’s “Wild West” days are over as China gets out-front with the new data laws that will lead to a better long-term future —brace for impact in the short-term. This interview covers only a few brief points about China’s new data laws. There’s a lot that couldn’t fit into a 3-minute piece that is …
China’s CBDC has spurred China’s banks to innovate, they are not asleep and are moving at a pace that Western banks would envy: “But that progress hasn’t been without its difficulties – Turrin explains that some of China’s banks were initially rather resistant: “Banks have now been shaken from their slumber. And they …
“Key to the development of China’s CBDC is not leaving anyone behind,” and I am grateful to @Stephen Cole and Sophie Nicholson of “The Agenda” for helping me get the message out! Stephen asked great questions about China’s CBDC but the most important of all was about financial inclusion: “China’s key breakthrough in FinTech, says …
Thank you to Guan Xin anchor of CGTN Biztalk! This is a full half-hour program covering China’s new central bank digital currency. Delighted to share the program with my new friend Zhang Xiaoyan from Tsinghua University. In 2014, the People’s Bank of China set up a team to study digital currencies. After seven years, digital …
Great to participate in SWIFT’s Inside Innovation Conference! A big thank-you to SWIFT! My keynote “The big picture: Financial services in 2030” focused on one theme, how the innovation center of gravity is moving East. There can be no argument that fintech is huge in all of Asia, not just China. This 20-minute presentation highlights …
Link here: Banque de France trials CBDC as governor warns of digital yuan threat By Lewis McLellan 01 Jul 20214-4 minutes France’s central bank governor sounds the alarm over the risk facing European monetary sovereignty posed by digital payments infrastructure, particularly the one being set up in China The governor of the Banque de France, …
Article link: Ant may be more relevant to China’s banks than ever Jame DiBiasio 9-12 minutes 6/28/2021 Ant Group, the fintech arm of Alibaba, may be losing its grip on a lucrative lending business as a result of a regulatory crackdown that began with the November 2020 suspension of its Hong Kong IPO. But …
Article link: Does Ant Group’s new licence for consumer finance business indicate regulator is on board with restructuring? Enoch Yiu, 6/3/2021 Thursday’s approval is a major step for Ant whose initial public offering (IPO) was put on ice in November at the last moment. The listing was called off after the CBIRC issued a set …
Link to full SCMP article here. https://www.scmp.com/tech/policy/article/3134625/china-bitcoin-mining-huobi-suspends-domestic-bitcoin-mining-amid-global Thanks to Yujie Xue! Article text. China bitcoin mining: Huobi suspends domestic bitcoin mining amid global sell-off, wider Beijing scrutiny Yujie Xue Beijing is ramping up the pressure on bitcoin miners amid growing green ambitions and rising concerns over the financial risks posed by cryptocurrencies Cryptocurrency mining operations …
Don’t blame China for the #Bitcoin crash! Instead, blame insane headlines, ignorance and social media. It makes #CBDC look good! China’s regulators were doing their job when they issued this public service announcement to warn people about Bitcoin volatility: “Virtual currency’s prices have soared and plummeted recently, resulting [in] a rebound of speculative trading activities …
“Can investors ever learn to love China’s regulators?” Unlikely but they should! Investors are overselling China’s tech stocks based on a fundamental misunderstanding of the regulators. Alibaba’s earnings were mind-blowing! Revenue growth up an incredible 64%, income up 38% and EPS up 12%. The $2.8bn fine hurt! A historic milestone of 1 bn annual active …
