Chinese regulators announced plans to block access to foreign exchanges via the Great Firewall, and three major U.S. banks announced a halt to cryptocurrency purchases using their credit cards.
Then there was CurrentC and its parent company MCX. This was the company that was going to larn Apple a lesson with its so-called “Apple Pay.” Wait, you don’t remember that? That could be because CurrentC was a big phat failure predicated on what retailers wanted rather than what consumers want. Enter Wall Street giant JPMorgan. That company bought a stake in MCX in August of 2016—because it was doing so well, I suppose. And on Friday, the bank announced it had purchased what’s left of MCX’s technology, its FinTech payment technology. Again, because it’s so awesome. JP Morgan plans to add FinTech to Chase Pay, its own soon-to-be-erstwhile mobile payment platform. Or maybe I’m just cynical. Either way…😂