Search Results for: Banking

Banking on Blockchain: ICBC Releases First-Ever White Paper on Blockchain for the Financial Sector

One of China’s major banks, the Industrial and Commercial Bank of China (ICBC), has released its white paper on blockchain-based applications in the financial sector. The document is the first white paper related to blockchain technology in the financial industry. The paper also highlights the present challenges faced by the banking sector. ICBC has previously … Continue reading Banking on Blockchain: ICBC Releases First-Ever White Paper on Blockchain for the Financial Sector

Caitlin Long's Avanti Crypto Bank Raises $5 Million Funding Round, Inches Closer to Banking Charter Approval

Avanti Financial Group, the crypto-focused bank, led by the Caitlin Long University of Wyoming Alumna, has taken another important step towards becoming a chartered crypto bank in the country. Caitlin Long is the founder and CEO of Avanti bank. Seeking green light from watchdog The crypto bank has raised an angel round worth $5 million … Continue reading Caitlin Long's Avanti Crypto Bank Raises $5 Million Funding Round, Inches Closer to Banking Charter Approval

Central Banks Could Monopolize Commercial Banking Sector via CBDC, Says Federal Reserve

A new working paper from the Federal Reserve Bank of Philadelphia indicates that the development of a central bank digital currency (CBDC) may create a fundamental shift in the way banks operate. The Federal Reserve Bank of Philadelphia’s research department recently released a whitepaper entitled, “Central Bank Digital Currency: Central Banking for All?” which explores … Continue reading Central Banks Could Monopolize Commercial Banking Sector via CBDC, Says Federal Reserve

US Banking Giant Patents AI Fact Checker to Simplify Investing in Crypto

Capital One Services, a subsidiary of US banking giant Capital One has patented a new artificial intelligence system to guide human cryptocurrency traders through the complicated world of misinformation in the digital assets space. Capital One Services is a subsidiary of Capital One and mainly deals in credit and car loans. According to the filing, … Continue reading US Banking Giant Patents AI Fact Checker to Simplify Investing in Crypto

Italian Banking Association Wants to Join in on the ECB Digital Euro Central Bank Digital Currency Project

The Italian Banking Association, Associazione Bancaria Italiana (ABI), has announced that they want to participate in projects and experimentations of a European central bank digital currency (CBDC), recently known as the digital euro. The ABI has set up an expert group last year to explore cryptocurrencies and digital assets and derived specific considerations by the … Continue reading Italian Banking Association Wants to Join in on the ECB Digital Euro Central Bank Digital Currency Project

Italian Banking Association Chose Decentralized Blockchain Route

The Italian Banking Association, Associazione Bancaria Italiana (ABI), chose to leverage the blockchain-based system Spunta, as they could not identify an appropriate single actor to run a centralized system. The Italian Banking Association’s Chief Innovation Officer Silvia Attanasio revealed why the ABI has chosen to use a decentralized blockchain system, Spunta DLT, as opposed to … Continue reading Italian Banking Association Chose Decentralized Blockchain Route

Banking on Blockchain: FinTech and Digitalization Will Play a Significant Role for the Chinese Banking Industry

China’s banking industry for small to medium-sized enterprises (SMEs) will rely on digitization and financial technology to build a “new infrastructure” for the entire industry.  Highly endorsed by the country’s president, Xi Jinping, blockchain technology has seen a surge in popularity in the past year. Xi pointed out that it is necessary to strengthen the … Continue reading Banking on Blockchain: FinTech and Digitalization Will Play a Significant Role for the Chinese Banking Industry

Russian Citizens Are Using P2P Bitcoin Markets to Escape Monolithic Banking System

Paxful peer-to-peer Bitcoin marketplace has released some important data regarding the use of its p2p trading platform in Russia. The study indicates a rising interest in the use of cryptocurrencies in the country. The research comes at an important time when the Russian government has been trying to make it even more difficult for citizens … Continue reading Russian Citizens Are Using P2P Bitcoin Markets to Escape Monolithic Banking System

Russian Banking Giant Sberbank to Tokenize Financial Assets Using Stablecoins

Sberbank, Russia’s biggest bank, has disclosed the possibility of issuing tokens to be utilized in digital financial assets (DFA) settlements. The token will be in the form of a stablecoin to be pegged to the nation’s currency, the Russian ruble.  Crypto bill enacted Following the passing of the Digital Financial Assets bill by the nation’s … Continue reading Russian Banking Giant Sberbank to Tokenize Financial Assets Using Stablecoins

Russian Banking Giant Sberbank and S7 Airlines to Streamline Air Ticket Purchase with Virtual Tokens

Sberbank, Russia’s biggest bank, has teamed up with S7 Airlines to revamp the sale of air tickets to corporate clients with virtual tokens, smart contracts, and a blockchain platform. This approach is expected to hasten settlements and eliminate the system of bank guarantees and advances, according to local news outlet Kommersant.  Blockchain-based settlements S7 Airlines … Continue reading Russian Banking Giant Sberbank and S7 Airlines to Streamline Air Ticket Purchase with Virtual Tokens

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