This article is contributed by our content partner, Nexchange NOW. The Bank of New York Mellon, which boasts nearly $2 trillion under management, is the 28th bank to join the Marco Polo trade finance consortium. And according to CoinDesk, the bank is quite eager to go “live:” The $373-billion asset bank is evaluating Marco Polo’s … Continue reading BNY Mellon Joins Marco Polo Trade Finance Consortium
On their 49th National Day, Oman Oil & Orpic Group and HSBC Bank Oman succeeded in carrying out their first trade transaction via blockchain technology. The transaction which according to the report, clarifies in a deeper way the commercial and functional potential of blockchain involved the shipping of polypropylene to Abu Dhabi National Carpet Factory … Continue reading Oman Oil & Orpic Group and HSBC Digitize Trade Finance with the Execution of their First Blockchain Trade Transaction
Following the Part 1 interview of the Financial Conduct Authority, Maha El Dimachki, Head of Payments of the FCA reveals some of her key initiatives in the FCA, including the significance of the second Payment Services Directive (PSD2) among the EU countries and the rationale of the Stronger Customer Authentication. As Co-Chair of Spectrum, the … Continue reading Financial Conduct Authority, on the 2 Key Initiatives to the Era of Open Finance
R3 leads the largest blockchain ecosystem in the world, creating initiatives using distributed ledger technology. Carl Wegner, the Managing Director and Head of Asia at R3, elaborates on the consortium’s reach with its broad ecosystem, on initiatives that are built on Corda, including, Project Voltron, Project Inthanon, Project LionRock, and Project Ubin in Asia. Project Voltron: Streamlining … Continue reading R3 – Revolutionizing Trade Finance with Blockchain
Exclusive interview with Jimmy Ong, Ernst & Young: Part 1 Governments utilize enterprise resource planning (ERP) tools to track public finance nowadays, however, how can we ensure the tracking of public funds is transparent and accountable to the general public? Ernst & Young (EY) has been the leader in using blockchain to track public finance. … Continue reading EY Ops Chain: Bringing Transparency and Accountability to Public Finance Management
Singapore’s biggest bank, DBS Bank joined R3-backed Contour Network known for digitalizing global trade processes. Previously known as Project Voltron, Contour is a blockchain-based trade finance platform, built over R3’s Corda blockchain and was founded by R3 and major global institutions, including HSBC, ING, Standard Chartered, Citi Ventures, BNP Paribas, and Bangkok Bank, Bain & … Continue reading DBS Bank Joins R3-Backed Blockchain Trade Finance Network Contour Built on Corda
China’s Central Bank, the People’s Bank of China (PBoC) announced its development plans for outlining a blockchain-based trade finance platform for the so-called Greater Bay Area that links Hong Kong, Guangdong, and Macao. Governing entities in China, including the PBoC, China Banking Regulatory Commission, China Securities Regulatory Commission, and the Foreign Exchange Bureau came together … Continue reading China’s Central Bank to Develop Blockchain-Based Trade Finance Platform for the Greater Bay Area
IBM has announced a new collaboration with blockchain-based trade finance platform, we.trade to enhance network capabilities and accelerate the global growth of the platform. We.trade was designed to connect buyers, sellers, banks, insurers, and other organizations in a network, simplifying cross-border trading. We.trade is backed by a group of banks, including Deutsche Bank, HSBC, Rabobank, … Continue reading IBM Joins Trade Finance Blockchain Platform We.Trade As New Shareholder
Japan was one of the first countries around the globe to begin accepting cryptocurrency. Despite this history, Japan’s finance minister, Taro Aso, suggested that he was not willing to push for lowering the tax rate of cryptocurrencies to a flat 20% because it is difficult for the majority of households in Japan to invest in … Continue reading Japan’s Finance Minister Says No Plans to Lower Taxes for Cryptocurrencies Amid Call for Tax Rate Cut
Decentralized Finance was one of the hottest emerging topics in the crypto world in 2019. But what is DeFi really? What is DeFi in a nutshell? DeFi stands for decentralized finance. DeFi as a concept is to be able to offer almost all the financial services available with legacy and centralized institutions, typically banks, but … Continue reading Decentralized Finance (DeFi)