JPMorgan’s blockchain payments platform has just onboarded its first Singapore-based bank. With the addition of OCBC – the second-largest bank in Southeast Asia by assets – JPMorgan’s Interbank Information Network…
OCBC has become the first Singapore-based bank to join JPMorgan Chase’s interbank blockchain network. According to a Business Times Singapore report on Sept. 20, a total of 134 banks from the…
The International Monetary Fund (IMF) has released a blog in which it outlines both potential benefits and risks associated with the adoption of new digital payment methods, including stablecoins. In…
The Committee of Monetary Policy (COPOM) of Argentina’s Central Bank (BCRA) announced the intention to increase the monetary base by 2.5% per month for the next two months on Sept.…
Arab Bank Switzerland has partnered with blockchain technology firm Taurus to offer Bitcoin (BTC) and Ether (ETH) custody and brokerage services to its clients. Swissinfo reported the development on Sept.…
The Swiss branch of one of the top financial institutions in the Middle East is launching a suite of cryptocurrency-based services. Arab Bank (Switzerland) announced on Thursday that it will…
Chile’s central bank governor, Mario Marcel, says central bank digital currencies (CBDC) can provide additional flexibility at a time of “unconventional monetary policies.” Marcel made the comments in a speech titled…
Israeli cybersecurity startup GK8 has reportedly developed the world’s first offline system for transacting cryptocurrencies. The new system uses GK8’s proprietary cryptographic techniques that enable instant blockchain transactions of digital…
Australian law enforcement bodies have uncovered a criminal gang allegedly involved in laundering millions of stolen funds through untraceable assets, including cryptocurrencies. According to an announcement published on Sept. 17,…
USA’s fourth-largest bank has announced it will develop its own cryptocurrency for international transfers in 2020. United States’ 3rd Largest Bank Reveals Wells Fargo Coin In a press release on…
American financial services company Wells Fargo & Company is planning to launch a pilot of a distributed ledger technology (DLT)-based internal settlement service in 2020. In a Sept. 17 press…
The United States’ largest bank faced fresh ridicule from Bitcoin (BTC) circles this week after prosecutors said traders had conducted more market fraud. As Bloomberg reported on Sept. 16, JPMorgan…
An economist of the Bank for International Settlements (BIS) has proposed new ways of supervising financial risks through distributed ledger technology (DLT). In a recently released working paper, economist Raphael…
Equities portfolio manager turned crypto fund executive Travis Kling has argued that Bitcoin (BTC) has come into its own as a unique hedge within the current macroeconomic climate. In an…
In a coordinated fashion, more than 18 central banks worldwide have or plan to cut interest rates, sparking a domino effect of monetary easing. It’s been 10 years since the…
Germany’s largest bank, Deutsche Bank, has joined JPMorgan’s blockchain-based network, the Interbank Information Network (IIN). Two years in operation Launched as a pilot in 2017, the JPMorgan-led blockchain initiative now…
Crypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal for nationals to send over $50,000 in fiat…
Cryptocurrencies undoubtedly bring new business opportunities. The expanding industry around digital assets and its customers need more and more services that traditional sectors can provide. Banking is often a bottleneck…
Venezuela’s largest bank, Bank of Venezuela (BDV), has added support for the country’s controversial Petro digital currency. Bank of Venezuela hints at crypto wallet As cryptocurrency news outlet Decrypt reports…
Alfa-Bank and X5 Retail Group partnered to launch a blockchain liquidity management service in Russia. According to a press release published by the bank on Sept. 12, the service —…
The arguments as to why bitcoin is superior to the banking system are pretty clear cut to anyone that has used it. A decade ago BTC was conceived to cut…
Saving planet Earth is a noble goal with many different dimensions. Climate change needs to be addressed vigorously as our world warms up faster than ever. Economic development needs a…
Major Spanish bank Banco Santander has issued what it claims is the first end-to-end blockchain bond. In a Sept. 12 news release, the bank revealed that it had issued a…
BitMEX parent firm HDR Global Trading has hired a former executive of French banking group BNP Paribas as the group’s general counsel. 28 years of legal expertise Derek Gobel, who…
Interbank payments network provider, the Society for Worldwide Interbank Financial Telecommunications (SWIFT), has dismissed cryptocurrencies as being “useless and unstable.” An FXStreet report published on Sept. 10 cites unnamed SWIFT…
Banking, in the traditional sense of the term, has become a financial burden for account holders in regions where the era of subzero interest rates has already set in. European…
Twitter and Square CEO Jack Dorsey stated that there are no plans for a platform-specific “Twitcoin” cryptocurrency, noting that he will instead focus on promoting Bitcoin (BTC). Open standards are…
Chairman of the United States Federal Reserve Jerome Powell said that the United States Federal Reserve is monitoring digital currencies carefully, but not working on its own at the moment.…
Turkey’s Istanbul Clearing, Settlement and Custody Bank (Takasbank) has announced its blockchain-based platform for trading physical gold. Dubbed BiGA, Takasbank’s new project aims to enable people to transfer physical gold…
Banking is often seen as the antithesis of Bitcoin (BTC), the very industry the nascent protocol looks to defuse and disrupt. Ironically, many banks are desperately in need of the…
European Central Bank (ECB) president candidate and International Monetary Fund (IMF) chief Christine Lagarde stated on Sept. 4 that central banks and financial supervisors should protect consumers but also be…
A Norwegian savings bank dating back to the mid-1800s has just invested in a cryptocurrency exchange set up by local business magnate Bjørn Kjos. In a press release posted on the…
Banking and financial services giant HSBC has completed the first yuan-denominated letter of credit transaction on a blockchain using the Voltron trade finance platform. As Reuters reported on Sept. 2,…
Yves Mersch, European Central Bank’s key legal official, said that Facebook’s Libra stablecoin is “beguiling but treacherous” during a speech at the ECB’s legal conference in Frankfurt on Monday. Bloomberg…
California-based blockchain development firm Baton Systems has closed a $12 million Series A funding round led by Trinity Ventures. According to a Ledger Insights report published Sept. 2, the new…
The German-speaking world continues to keep up a fast pace in regard to cryptocurrencies and blockchain implementation. Among other stories during the past week: the Cabinet of Germany and Deutsche…
The world economy is a complex system that has undergone many different phases in the past century. As strange as it may sound today, there have been times when banking…
This week saw major expansion of crypto payments in Brazil, new standards freeing Bitcoin from Portuguese taxes, and the allegedly fraudulent Grupo Bitcoin Banco’s refusal to pay clients their deposited…
On Aug. 29, German blockchain-based banking startup, Bitwala, announced the launch of its smartphone app for Bitcoin banking on iOS and Android. Customers in over 30 European countries can now…
Binance Research, the research arm of the major crypto platform Binance, has reported that no bank account will be necessary to use China’s Central Bank Digital Currency (CBDC). Loose coupling…
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