Search Results for: Bank

HSBC Becomes the First Bank to Finance Transaction via Hyperledger

Multinational banking giant, HSBC has reportedly become the first bank to complete a financial transaction using the blockchain trade platform, we.trade based in Europe.      Based in Dublin and established in 2017, we.trade is a blockchain trade platform that runs on the IBM Hyperledger Fabric. The platform allows clients to manage, track, and securely open account trade transactions between SMEs in Europe.    … Continue reading HSBC Becomes the First Bank to Finance Transaction via Hyperledger

US Congress Encouraged to Regulate Crypto Sector Under Bank Secrecy Act

A Washington DC-based strategic advisory firm, the Financial Integrity Network (FIN), pushed the United States Congress to regulate firms in the cryptocurrency sector under the Bank Secrecy Act (BSA).      The FIN recommended that virtual asset service providers (VASPs) should be regulated based on the type of service that they provide, as stated in testimony. The … Continue reading US Congress Encouraged to Regulate Crypto Sector Under Bank Secrecy Act

Nigeria’s Unity Bank Collaborates with Binkabi for Blockchain-Based Agricultural Solutions

Nigeria’s Unity Bank has entered into a collaboration with Binkabi, a commodity trading structure that is blockchain-based. The primary objective of this partnership is to propel lending to Nigeria’s agriculture sector.  Expressly, Binkabi will avail blockchain-based agricultural solutions, whereby value addition will be availed to SMEs and farmers by propelling quality storage for farm produces … Continue reading Nigeria’s Unity Bank Collaborates with Binkabi for Blockchain-Based Agricultural Solutions

Central Banks to Cross-Examine Libra’s Founders in Switzerland

The European Central Bank (ECB) officials and 25 global central banks will be meeting with Libra’s founders to assess the project.    Libra previously reaffirmed its stance where the long launch schedule was to welcome any engagement with regulators and politicians. ECB executive, Benoit Coeure recently warned that Libra has to clear a “very high” bar as EU finance ministers … Continue reading Central Banks to Cross-Examine Libra’s Founders in Switzerland

Deutsche Bank Joins JP Morgan’s Blockchain Platform

This article is contributed by our content partner, Nexchange Group. Germany’s beleaguered banking giant, Deutsche Bank, has joined JP Morgan’s blockchain-based Interbank Information Network (IIN), the Coin Telegraph reports.  Deutsche Bank’s entry brings the initiative’s network to 320 banks, with Takis Georgakopoulos, head of payments at JP Morgan, expressing hope that Deutsche will be the first … Continue reading Deutsche Bank Joins JP Morgan’s Blockchain Platform

Calibra CEO Defends Libra at Its First Major Encounter with 26 Global Central Banks

David Marcus, the CEO of Calibra, behind Facebook’s Libra has announced that the proposed stablecoin would not be a threat to the monetary sovereignty of nations as suggested previously by regulators.  A meeting was held on Monday in Switzerland at the Bank for International Settlements (BIS) between the 26 global central banks and the founders … Continue reading Calibra CEO Defends Libra at Its First Major Encounter with 26 Global Central Banks

United States’ Third Largest Bank Wells Fargo to Reveal Coin in 2020

In a press releasepublished on Sept. 17, Wells Fargo had expressed the intention of the bank to create a payment network that would be based on distributed ledger technology (DLT). Wells Fargo Digital Cash is the name of the dedicated platform that payments will be working with. The bank says that this concept will have to … Continue reading United States’ Third Largest Bank Wells Fargo to Reveal Coin in 2020

Bank of America Joins Marco Polo Blockchain Network Powered by R3 Corda

Bank of America has joined the Marco Polo Network, powered by R3 Corda’s distributed ledger technology to solve the challenges of the global trade participants.    The Marco Polo Network made the announcement on Sept. 19, stating that the multinational investment bank and financial services company is looking to provide transformative solutions for their global customers.   Launched … Continue reading Bank of America Joins Marco Polo Blockchain Network Powered by R3 Corda

Venezuela’s Central Bank Considers the Potential of Bitcoin and Ethereum

Anonymous sources have offered direct insights into the Venezuelan’s Central Bank’s consideration of adopting Bitcoin (BTC) and Ether (ETH) payment systems. According to an article by Bloomberg, the central bank of Venezuela is open to potentially storing cryptocurrencies. At the heart of the issue is the difficulty experienced in receiving payments from international clients to … Continue reading Venezuela’s Central Bank Considers the Potential of Bitcoin and Ethereum

South Korean Bank, KB Kookmin, Shares Blockchain Strategy

KB Kookmin, a major South Korean bank is planning to adopt blockchain technology into its internal processes. As reported by South Korean JoongAng Daily on Monday, the institution recently previewed the multitude of benefits to the financial industry that blockchain technology can provide at a conference dubbed the Enterprise Ethereum and Revolution in Banking Summit. Blockchain … Continue reading South Korean Bank, KB Kookmin, Shares Blockchain Strategy

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