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View Mayank Rasu's Comments
Could Apple Be Working On The 'iBank'?
Very interesting article. However, the idea is not so novel and definitely not accretive to the share value. There was an Economist article on how in certain African countries, pre paid cellular phone credit is used as proxy currency. The monetary policy in those countries is not so robust so this alternative currency has taken off nicely.
However, ibank is not going to be so easy. Becoming a bank means piling yourself with a ton of regulation and scrutiny. Apple will come under the ambit of Dodd Frank and Basel and will have to comply with capital rules. Also keep in mind that the margins earned in banking is not even close to the margins APPL has become used to. Not sure if the stock holders will pe very pleased if Apple decides to become a bank.
Feb 13 06:30 PM
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