Search Results for: COMMERCIAL

Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks

Li Wei, the Technology Departmental Head of the People’s Bank of China, has urged Chinese commercial banks to embrace blockchain and digital finance. His sentiments come at a time when decentralized finance (DeFi) has become an emerging trend, whereby decentralized networks are set to transform traditional financial approaches into transparent and trustless protocols.  According to … Continue reading Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks

China’s Central Bank Partners with Commercial Banks and Telecom Giants to Test Digital Currency in Two Major Cities

New developments of China’s central bank geared towards testing its digital currency electronic payment (DCEP) in the cities of Shenzhen and Suzhou. The People’s Bank of China, the country’s central bank is on track to become the first central bank on the globe to issue a national digital currency. Huang Qifan, the Vice Chairman of the China International … Continue reading China’s Central Bank Partners with Commercial Banks and Telecom Giants to Test Digital Currency in Two Major Cities

Microsoft Azure Integrates Lition Commercial Blockchain into Cloud Marketplace

Lition, a commercial blockchain has been integrated into the Microsoft Azure cloud marketplace to provide blockchain as a service (BaaS) solutions. With the announcement made on Feb. 18, Lition becomes one of the few public/private blockchains to receive support from a major cloud provider. According to the announcement, the integration of the Lition blockchain into the Azure … Continue reading Microsoft Azure Integrates Lition Commercial Blockchain into Cloud Marketplace

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

Chinese Bank Issues the First Asset-Backed Commercial Paper in China on Blockchain

China Zheshang Bank, based in Zhejiang province has leveraged blockchain technology to issue the country’s first asset-backed commercial paper in the Chinese financial market.  China Zheshang Bank successfully issued the “Lianxin 2020 Lianjie First Phase Asset-backed Commercial Paper,” which was worth 120 billion yuan ($16.93 billion).  The asset-backed commercial paper (ABCP) was issued as a … Continue reading Chinese Bank Issues the First Asset-Backed Commercial Paper in China on Blockchain

China’s Major State-Run Commercial Banks Test CBDC Digital Wallet

China’s major state-run banks are testing out its central bank digital currency (CBDC) digital wallet application. The Chinese central bank, having said that its CBDC, also known as digital currency electronic payment (DCEP), is “almost ready,” is finally moving a step closer to its official launch nationwide.   According to Wang Zongmin, a former deputy chairman … Continue reading China’s Major State-Run Commercial Banks Test CBDC Digital Wallet

VTB Bank's Subsidiary Tokenizes Commercial Debt in Landmark DFA Transaction

Russia’s State-owned bank VTB, through its subsidiary, VTB Factoring has completed the country’s first commercial paper tokenization through a partnership with Lighthouse, an information system operator and startup. As announced by VTB, the issuer’s commercial debt was tokenized on the Lighthouse platform using distributed ledger technology, and VTB Factoring acquired this tokenized debt. The entire … Continue reading VTB Bank's Subsidiary Tokenizes Commercial Debt in Landmark DFA Transaction

Tether Aims to Render More Transparency by Slashing Commercial Paper Holdings

Based on continuous efforts to decrease its commercial paper portfolio for transparency purposes, Tether revealed that it would slash its holdings by $5 billion by the end of July. In a statement, Tether Holdings, the issuer of USDT, the world’s largest stablecoin, pointed out: “Currently, Tether has 8.4B of these holdings, of which 5B will … Continue reading Tether Aims to Render More Transparency by Slashing Commercial Paper Holdings

Tether Says No Chinese Commercial Papers Holding on its Reserve

Tether Holdings Ltd, the blockchain startup that is in charge of the USDT stablecoin issuance and operations, has come out yet again to address the growing rumours about the composition of its reserve base.  Per the update on Wednesday, the stablecoin issuer said it is unlike what is currently in circulation. It holds no Chinese Commercial Paper … Continue reading Tether Says No Chinese Commercial Papers Holding on its Reserve

CryptoPunk, Meebits Owners can now Create Commercial Projects With Their NFTs

Owners of CryptoPunk and Meebits non-fungible tokens (NFTs) can now create commercial projects and products based on their NFTs. The announcement comes following Yuga Labs’ release of its long-awaited intellectual property (IP) licensing deal for CryptoPunk and Meetbits NFT holders on Monday. Yuga Labs first bought the collections from Larva Labs in March, and holders … Continue reading CryptoPunk, Meebits Owners can now Create Commercial Projects With Their NFTs

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