Cryptocurrencies and financial technology developments are “shaking” the banking system and must be monitored, stated Christine Lagarde, Managing Director of the International Monetary Fund, while speaking to CNBC.
Lagarde also pointed out that commercial banks are changing their business models to respond to the pressures of fintech and cryptocurrencies.
“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever...that is clearly shakin...